ELMED Life Sciences Raises $2.7 Million in Series A Funding from AgriSURE Fund (NABVENTURES)

ELMED Life Sciences, a science-led company focused on probiotic and biological solutions across animal health, aquaculture, agriculture and human health has successfully raised $2.7 Million (₹25 crore) in Series A funding from AgriSURE Fund, an agri-focused investment fund managed by NABVENTURES, the venture capital arm of NABARD. This investment will support the company’s next phase of growth, focused on expanding its manufacturing, strengthening R&D, and scaling distribution across key markets.

Founded by Pruthivin Reddy Madduri & co-founded by Nikhil Konkathi, ELMED Life Sciences is working towards advancing biological solutions that improve productivity, immunity, and sustainability across farm ecosystems. The company operates across four key segments: animal health, agriculture, aquaculture, and human health, offering probiotic-based solutions tailored to the needs of poultry, dairy, livestock, shrimp, fish farming, and soil/plant health.

The investment comes at a time when the global and Indian agriculture ecosystem is witnessing a significant shift towards biological and microbiome-based solutions, driven by increasing regulatory restrictions on antibiotic usage, rising export standards for residue-free produce, and growing awareness around sustainable farming practices. In India, the probiotic segment across animal health, aquaculture, and agriculture is growing rapidly, with adoption accelerating across poultry, dairy, and aquaculture sectors.

With the new funding, ELMED Life Sciences aims to expand its manufacturing capabilities in Hyderabad while strengthening its research and development in microbiome-based solutions. The company is also focused on deepening its distribution network across Tier 2 and Tier 3 markets in India and building a stronger presence in international markets driven by rising demand for sustainable, antibiotic-free solutions.

“We founded ELMED Life Sciences with one conviction that nature’s own biological intelligence, when harnessed through rigorous science, can transform the health and productivity of animals, humans, aquatic systems, and soil. The support of the AgriSURE Fund is a strategic partnership with an institution that understands this market from the ground up. With this funding, we are ready to take ELMED to its next chapter: deeper into the heart of Indian agriculture, and broader into global markets that increasingly demand clean, biological, and residue-free solutions. The opportunity ahead of us is immense, and we are only getting started.” Pruthivin Reddy Madduri, Founder & Managing Director, ELMED Life Sciences. 

Speaking about the investment, Ashish Choudhary, Investment Manager, AgriSURE Fund, NABVENTURES, said, “Indian agriculture is steadily moving towards more sustainable and residue-free practices, creating a strong need for reliable biological solutions. Through the AgriSURE Fund, we focus on backing businesses that can drive this shift at scale. ELMED has demonstrated both scientific strength and on-ground adoption across key agri segments, and this investment will support its next phase of growth in manufacturing and market expansion.”

“ELMED operates in a rapidly emerging segment within the probiotic and biological solutions space, with strong growth potential. The company’s positioning and scalability make it a compelling opportunity. We are pleased to have supported this funding.” Sumeet Seraf, Founder & CEO, Equity360. 

ELMED Life Sciences currently operates across India from its headquarters based out of Hyderabad, India, and serves multiple notable MNC’s through a B2B approach across industries.

The company is also expanding its global footprint and currently exports to more than 18 countries, with plans to further strengthen its presence across Europe, Asia & South American (LATAM) countries going forward. ELMED is the first company in India to research and develop probiotics specifically for agriculture.

Over the next few years, ELMED aims to significantly scale its operations, focusing on expansion across domestic and international markets while continuing to invest in science-backed innovation in biological solutions, focusing on ONE HEALTH.

Website: https://www.elmedlifesciences.com

NABARD Brings GI-Tagged Handloom Treasures to Mumbai for National Handloom Day

On the occasion of National Handloom Day 2025, NABARD will host a two-day Exhibition-cum-Sale on 7th and 8th August 2025 at its Head Office premises in Bandra-Kurla Complex, Mumbai.

The event will feature 15 curated stalls, showcasing India’s diverse handloom traditions and providing artisans a direct platform to display and sell their exquisite creations to the public. This initiative celebrates the craftsmanship of NABARD-supported weavers while offering visitors a vibrant glimpse into the country’s rich weaving heritage.

A wide range of traditional products from across India, including Kutch embroidery & Tangaliya from Gujarat; Banarasi Sarees, Mirzapur Carpets & Durries, Muzzaffarnagar Feather Handloom & Baghpat handloom from Uttar Pradesh; Ambala Handlooms from Haryana; Batik Print & Maheswar Sarees from Madhya Pradesh; Jodhpur Bandej from Rajasthan; Pochampally Ikkat from Telangana; Paithani Sarees from Maharashtra; Mulberry and Tassar Silk from Bihar; Jamdani & Kantha Sarees from West Bengal, among others will be available for sale.

Visitors can purchase GI-tagged handloom products directly from artisan groups, ensuring authenticity and fair value.

As part of its annual tradition, NABARD celebrates National Handloom Day across all its Regional Offices and Head Office (Mumbai), reinforcing its dedication to empowering weavers and preserving India’s handloom legacy.

Observed annually on 7th August, National Handloom Day commemorates the launch of the Swadeshi Movement in 1905, celebrating the spirit of self-reliance and honouring the invaluable contributions of India’s weavers to the nation’s cultural fabric.

NABARD Chairman Launches NABSAMRUDDHI’s Climate Ready WASH Funding Programme

Shri Shaji K.V, Chairman, NABARD unveiling NABSAMRUDDHI’s Climate Ready WASH Funding Programme

Shri Shaji K.V., Chairman, NABARD launched Nabsamruddhi’s Climate-Ready WASH Funding Program at the Sa-Dhan National conference on Inclusive Growth in Delhi on 08 November 2023. The other dignitaries to grace the occasion were Shri Ravi Krishan Takkar, Chairman, NABSAMRUDDHI, Shri Jiji Mammen, ED & CEO, Sa-dhan and Shri Manoj Gulati, Regional Director, South Asia, Water.org.

Smt. Bonani Roychoudhury, Managing Director of Nabsamruddhi highlighted the role played by the company in championing WASH financing especially over the last 2 years, having disbursed over INR 250 Cr of WASH loans through 25 impact focused Financial Institutions, boosted by Special Concessional refinance from NABARD and technical support from Sa-dhan, Water.org among other stakeholders. Recognising the adverse impact of climate change on WASH, Nabsamruddhi has now realised the need to narrow its focus down to Climate Ready WASH lending. Based on insights generated through interactions with different stakeholders, the programme was launched through 3 MFI partners on a pilot mode, to finance climate proof WASH in climate vulnerable areas in Bihar and Rajasthan.

The dignitaries were felicitated with a signed note of appreciation from Shri Rajendra Singh, “Waterman of India” for their commitment towards advancing sustainable water initiatives.

 (From Left to Right) – Chairman, NABARD along with respective dignitaries releasing  NABSAMRUDDHI’s brochures. Shri Manoj Gulati( Regional Director, South Asia, Water.org), Shri Jiji Mammen(ED & CEO, Sa-Dhan), Shri Shaji K.V (Chairman, NABARD), Smt. Bonani Roychoudhury (Managing Director, Nabsamruddhi) and Shri Ravi Krishan Takkar (Chairman, NABSAMRUDDHI) 

NABSAMRUDDHI:

NABSAMRUDDHI Finance Limited was incorporated under Companies Act, 1956 on 17 February 1997 under the name of Agri Business Finance Limited and registered as Non-Banking Financial Company with the Reserve Bank of India. It was promoted with equity participation from National Bank for Agriculture and Rural Development (NABARD), Union Bank of India (erstwhile Andhra Bank), Canara Bank, Government of Andhra Pradesh, Government of Telangana, Andhra Pradesh State Cooperative Bank, Telangana State Cooperative Apex Bank and a few Industrial Houses / individuals from the State. The objective of NABSAMRUDDHI is to provide credit facilities to legal entities for promotion, expansion, commercialization and modernization in non-farm activities including microfinance, MSME, housing, education, transport, etc.

Blockchain-powered Agritech Platform TraceX Raises $1Mn Funding Led by NABARD-backed NABVENTURES Fund

Founders Anil Nadig and Srivatsa Sreenivasarao (From L to R)

The round also saw participation from Paipal Ventures and angel investor Sunil Kumar 

TraceX Technologies, a blockchain powered agritech platform that enhances supply chain traceability and transparency, has raised USD 1 million in pre-series A funding led by NABARD backed NABVENTURES Fund. The round also saw participation from Paipal Ventures, an early stage family office investment fund, and from angel investor Sunil Kumar. The newly raised capital will be used towards scaling up operations across geographies in India and in international markets, enhancing the technology platform, foraying into other value chains and for building high performance teams across functions. 

Founded in 2019 by Srivatsa Sreenivasarao and Anil Nadig, TraceX harnesses the power of blockchain technology to build clean, transparent, and traceable supply chains across the food and agriculture ecosystem. 

A report published by Markets and Markets indicates that the food traceability market is projected to grow at a CAGR of 9.1% with its estimated value reaching USD 26.1 Billion by 2025.  Increasing consumer awareness on safe food products, growing demand for healthy and ethically sourced products, and focus on transparency are some of the reasons behind this demand. Transparency and traceability are the two key pillars to building consumer trust. TraceX was founded with an aim to create connected and traceable supply chains to provide accountability and transparency for every stakeholder in the supply chain. 

In addition to building trust among consumers, TraceX also offers a significant value add to farmers and food and agri businesses. For farmers, it helps boost productivity, improve market linkages and enhance the quality of the produce. On the other hand, it helps food companies conform to regulatory compliances, reduce losses due to wastage, better  inventory management, and  timely product recalls in case of contamination. 

Commenting on the fundraise, Anil Nadig, Co-Founder, TraceX, said, “Traceability is more relevant today than ever before. More and more consumers are keen to know about the origins of the food they buy, the processes it undergoes and the journey it takes before it reaches them. Due to the opacity in supply chains, consumers today have no way to trace and track the products they buy. Traceability in the supply-chain bridges the information and trust gap among consumers, agri-businesses, and farmers. At TraceX, we believe that transparency builds trust and we are on a mission to create credible, connected and sustainable supply chains for the world. We are thrilled to have NABVENTURES join us on our journey. Their tremendous experience in the field of food and agriculture will help us accelerate our vision of building a globally connected food network on blockchain.”

Commenting on the future of food traceability, Dr. G. R. Chintala, Chairman of NABARD and NABVENTURES, said, “Traceability is the future of Indian agriculture. Leveraging technology to showcase transparency will allow farmers and FPOs to command a premium for their produce. Traceability solutions empower farmers to follow sustainable climate resilient practices ensuring continuous productivity."

TraceX’s SaaS platform integrates with the existing digital infrastructure in the supply chains and brings all the stakeholders onto the blockchain network, ensuring a single source of truth from farm to fork. In addition to food safety and operational efficiency, TraceX also helps companies build sustainable supply chains for the future.

Speaking about the investment, Rajesh Ranjan, CEO, NABVENTURES, said, "A typical  agri-food supply chain is unorganized, and the data is stored in silos. This results in a disconnected supply chain, limited interoperability and compromised transparency across transactions. Given the increasing demand for providing credibility to claims made by brands on sustainable sourcing, food handling and other aspects, TraceX is the right platform - neutral, independent, and a credible solution for building traceable supply chains  from farm to fork. It organizes the entire supply chain by providing connected, secured, auditable and verifiable information via blockchain."

TraceX currently has a B2B SaaS subscription model where it works with companies across livestock, poultry, seafood, and agri supply chains. The startup currently works with 30+ food companies that include prominent names such as Olam, MTR Foods, Slay Coffee, Govt of Telangana, GoDesi, BlueTokai, Sam Agri, Milk Mantra and many others.

Commenting on the company’s future plans, Srivatsa Sreenivasarao, CEO and Co-founder, said, "We have received an overwhelming response from our customers for the kind of positive impact our product has created. We are working towards further enhancing our product by leveraging Asset Tokenization (NFTs), AI, ML, IoT to provide digital empowerment to all the participants in the supply chain. Our aim is to  harness the power of Web3 technologies to build a large  distributed autonomous supply chain network for food and agriculture businesses. Over the next few months, we plan to extend our offerings to encompass carbon offsets and climate action goals of companies. We also plan to aggressively scale up operations in international geographies."

TraceX is a next generation digital agriculture platform that leverages blockchain to connect multiple participants across the food and agri supply chain and help them securely exchange verifiable and auditable data leading to mutual trust, accountability, traceability and transparency amongst the participating actors.

Their solution enables farmers, producer organizations, aggregators, food processors, insurance providers, credit providers, logistics providers, buyers etc to exchange information with mutual trust via a permissioned blockchain digital ledger enabling each one to prove transparency, traceability and provenance of the claims. Farmers, Processors, Procurement folks use their multilingual mobile application and others use web-based applications to interact with the system.

Website: https://tracextech.com/ 

About NABVENTURES Fund

NABVENTURES is backed by National Bank for Agriculture and Rural Development (NABARD), the apex development finance institution of India with an AUM of USD 95 billion.   

NABVENTURES is a venture growth equity fund that invests in food, agritech, and rural fintech. The fund has invested in 9 startups: Jai Kisan (2 rounds), Unnati (2 rounds), TenderCuts (2 rounds), Eggoz, VilCart, KrishiTantra, Satyukt, TraceX and Fraazo(exited). 

Apart from providing patient capital, NABVENTURES focuses on operational value additions and leverages the NABARD network and subsidiaries to provide market access, debt, and strategic advice to its portfolio companies. 

Telangana-based Rural Tech Startup Hesa Receives 450K Grant From NABARD to Up-Skill 100 Rural Women in Odisha

Telangana-based rural tech startup Hesa has received a grant of INR 450k from NABARD to upskill 100 rural women promoting Self Help Groups (SHGs) through capacity building in the geographies of Jajpur, Odisha. The two-month-long project aims at empowering women in the community with skill development and income enhancement, creating an overall impact. To ensure women's empowerment, Hesa will use the grant to increase women's participation at work with digital and financial awareness.

Established in 2020, Hesa is a socially, digitally, and physically integrated platform empowering livelihood in rural areas, enabling access to quality products and services. Connecting businesses to rural India and enabling scalable solutions for rural households Hesa is a one-stop solution for all rural problems. Using the “One District One Product” (ODOP) model, the partnership will benefit from scale procurement of inputs, availing standard services, and marketing of products.

“We are excited to join NABARD on the rural development mission. The joint initiative will empower Self Help Groups (SHGs) women with entrepreneurial opportunities and further boost institutionalised credit support leading to prosperity for rural women in Odisha. With market access creation and enhancing end-to-end infrastructure supply chain, we look forward to overall development of the rural community” said Vamsi Udayagiri Co-Founder and CEO Hesa.

With skill training, active women participation from Self Help Groups(SHGs), the partnership between Hesa and NABARD aims to address the grassroots challenges of the lack of resources, access to modern technology, and inadequate quality in the food processing industry. Creating micro-entrepreneurship opportunities with increased women engagement will help improve end-to-end agriculture infrastructure and organize the food processing industry. The project will provide opportunities for credit facilitation, easy loan access, and financial independence to women, leading to economic empowerment and self-reliance with income enhancement. Hesa will help strengthen agricultural performance and development in project-specific geographies promoting capacity building.

The partnership envisions empowering rural women with opportunities, independence, and financial empowerment, enabling an equitable life and lifestyle. NABARD and Hesa together intend to support women with investments and upscaling operations organising the food processing sector by overcoming the performance and development challenges. Hesa is a social enterprise enabling convenience with multiple solutions for both ends connecting rural entrepreneurs and brands. Empowering 11Lakh rural households to date, Hesa is on a mission to reach 15 million households, uplifting rural consumers with digital literacy, opportunity, and financial inclusion.

National Bank for Agriculture and Rural Development (NABARD) is an apex regulatory body for the overall regulation of regional rural banks and apex cooperative banks in India. It is under the jurisdiction of the Ministry of Finance, Government of India. The bank has been entrusted with "matters concerning policy, planning, and operations in the field of credit for agriculture and other economic activities in rural areas in India". NABARD is active in developing & implementing Financial Inclusion.

Rural Fintech startup Jai Kisan Raises ₹30 Cr in Funding from Arkam Ventures, NABVENTURES (NABARD), Blume and Global Financial Leaders

Jai Kisan, a Mumbai-based fintech platform for rural emerging markets that facilitates a suite of financial products to rural customers, has closed an INR 30 cr Pre-Series A round of funding led by Arkam Ventures (previously known as Unitary Helion) with participation from NABVENTURES Fund I (backed by NABARD, an apex DFI with AUM of INR 525,000 cr). Jai Kisan is NABVENTURES’ first investment.

The fresh round of fundraising saw participation from existing investors including Blume, Prophetic Ventures and Better Capital. The round also saw participation from prominent leaders in finance and agri like an affiliate of The Chatterjee Group (TCG), Rajiv Sahney (New Vernon Capital), Sanjay Mariwala (Omniactive) and others.

Jai Kisan was founded by Arjun Ahluwalia and Adriel Maniego – graduates of Texas A&M University who quit their jobs in private equity and restructuring, respectively to move to India with a clear mission to change the way finance is delivered to the rural customer.

Over the past 6 months, Jai Kisan has disbursed over INR 50 cr in loans of top tier credit quality to a diverse set of 5500+ borrowers from various income groups across 10 states. Jai Kisan's financial products and robust technology platform is able to onboard a diverse set of borrowers varying from a lady farmer with minimal documentation in a tribal village with no electricity in the Nilgiris to a large grape producer and exporter in Nashik.

“Adriel and I started Jai Kisan to facilitate rightly priced credit (and other financial services) to rural borrowers. It didn’t make sense to us that a poor woman borrower in the middle of nowhere is expected to generate over 24% IRR on a small 50K type loan – (and that too from a formal lender!), while in our previous jobs (private equity) we were expected to generate a meagre 12% IRR for our LPs armed with billions of dollars in capital. We set out on the mission to change the way financial services are delivered to rural customers. Over the past few months, we have built a diverse book while ensuring delivery of credit instantly and more importantly – cheaply, across 10 states including the most backward parts of the country.” said Arjun Ahluwalia, Co-Founder and CEO of Jai Kisan.

Jai Kisan is building the first rural fintech full-stack platform to cater to the financial needs of customers in rural emerging markets. Today, Jai Kisan provides cheap financing options for equipment, input and invoice financing for rural borrowers accessible at their fingertips or at any of Jai Kisan’s partners’ tech enabled locations.

“Very few startups have the commanding view of a large untapped space. Even fewer startups have the luxury of tail winds in these challenging times. Jai Kisan is a rare combination of both of the above along with a unique business model that adds value to multiple participants of the agri supply chain. We are very excited to lead this new round of financing in Jai Kisan”, said Rahul Chandra, Managing Director of lead investors - Arkam Ventures.

Mr. G. R. Chintala, NABARD Chairman, remarked, “We appreciate the efforts of Jai Kisan to emerge as a frontline agri/rural fintech player on the strength of its tech prowess, low cost of operations along with reasonable security levels”.

Rajesh Ranjan, CEO of NABVENTURES, added that, “Jai Kisan is charting a new course in agri/rural digital lending. Even in a COVID scenario, it has delivered stellar growth. NABVENTURES would continue to back such tech-driven agri/rural startups which are at the forefront of agri/rural transformation in India.”

Jai Kisan deploys a B2B2C approach driven by technology, partnering with businesses that sell (inputs, equipments, etc.) or procure (buyers, processors, dairies, poultries, etc.) across the agri, dairy and poultry value chains. Driven by technology end-end and leveraging these deeply rooted networks, Jai Kisan is able to facilitate cheap financing to rural borrowers at unprecedently low interest rates, with a seamless process flow and quick turnaround.

"We are delighted to continue to partner with Arjun and Adriel. Jai Kisan’s robust growth, excellent asset quality and expanding national food print have made them a highly differentiated and scaleable fintech partner for all rural stakeholders. The company's unique offering will continue to propel the growth engine of rural India. We are confident that Jai Kisan will become a large exchange and platform of choice for all things rural related." Sajid Fazalbhoy, Venture Advisor at Blume said.

Today, less than 50% of households dependent on agriculture have access to credit with even lesser having access to rightly priced credit. Rural borrowers often find it difficult to access financial services from banks and other traditional sources due to the lack of documentation, credit/transaction history, visibility of cashflow and operations.

Jai Kisan is also working closely with banking partners to expand the offering of financial products to the bottom of the pyramid to further enhance their livelihoods (more credit products, savings, etc.) while also securing (insurance, etc.) the livelihood of the rural customer.

Jai Kisan is partnered with 3 blue chip banks and 5 NBFCs, including being a key Fintech partner for Avanti Finance India Pvt. Ltd. (An NBFC promoted by Mr. Ratan Tata, Mr. Nandan Nilekani and Dr. Vijay Kelkar) to drive Financial Inclusion in India.

“Jai Kisan is helping Avanti in its mission of delivering affordable credit to the Agri and MSME sectors in India through their extensive reach as well as innovative credit assessment process. We look forward to continue to deliver sustainable impact through this partnership.” said Sunil Tadepalli - Chief of Partnerships, Avanti.

For the 1st Time, India's 36-Yr-Old NABARD Bank Launches $100 Mn VC Fund for Agri & Rural Startups

India's apex development financial institution owned by the government, National Bank for Agriculture and Rural Development (NABARD), has launched ₹ 700 crore ( ~ US $100 million) venture capital fund for equity investments in agriculture and rural -focused startups.

Established in July 1982 and fully owned by Government of India, NABARD has been contributing to other funds till now and this is the first time that NABARD, through its subsidiary 'NabVentures', has launched a fund of its own, reported Business Line.

The VC fund, which already had its first close, will be used for investing across startups engaged in agriculture, food and rural development space.

Launched in January this year as a separate subsidiary of NABARD to support start-ups, NabVentures has a proposed corpus of Rs 500 crore with an option to retain over-subscriptions of Rs 200 crore, called as the greenshoe option or "over-allotment option".

Nabventures is now scouting for equity investments in asset-light, innovative, technology-led start-ups in its focus areas

For its first close, the details of the investments done by NABARAD and other limited partners were not idisclosed yet.

NABARD chairman, Harsh Kumar Bhanwala, said,"The fund will have a high impact as it will provide a boost to investment ecosystem in the core areas of agriculture, food and improvement of rural livelihoods."

In India, more than 50% of the rural credit is disbursed by the Co-operative Banks and Regional Rural Banks (RRBs) and NABARD is responsible for regulating and supervising the functions of Co-operative banks and RRBs. NABARD also provides recommendations to Reserve Bank of India on issue of licenses to Cooperative Banks, opening of new branches by State Co-operative Banks and RRBs.

Regarding NABARD's contribution in Indian startup ecosystem, the bank has contributed Rs 273 crore to 16 alternate investment funds. Aavishkaar Bharat Fund, which had invested ₹40 crore in GoBOLT, a Gurgaon-based logistic tech startup, is backed by NABARD among other investors.