Chennai: AgTech startup KiVi, operated under the umbrella of Agrosperity Tech Solutions Pvt. Ltd., has successfully closed its seed funding round with an investment of Rs 15 crore. The investment round saw participation from notable entities like Caspian Leap for Agriculture Fund, Piper Serica Angel Fund, YAN Angel Fund, and the Impact Innovators and Entrepreneurs Foundation. KiVi is nurtured at the IIT Madras Research Park and its name is an acronym for “Kisan Vikas,” translating to farmer development.
Discussing the successful funding round and the roadmap ahead, Founder and CEO Joby C O said, “Our first institutional investors align well with KiVi’s mission to transform agriculture into a viable livelihood by streamlining credit, trade, and distribution within the farmgate ecosystem.”
The core team at KiVi, in addition to Joby C O, includes industry experts like Padmakumar K, Rajendra Kumar, Salil Nair, and Manoj Ramaswamy. Their collective expertise spans rural finance, agri-business, technology solutions for rural areas, and fundraising.
The farmgate ecosystem, which includes both farmer households and agribusiness entrepreneurs, has been largely neglected by mainstream financial institutions. KiVi aims to fill this gap by offering bespoke solutions that cater to the unique needs and challenges of this market, such as fluctuating cash flows, lack of formal financial documents, and fragmented landholdings.
“Our tech-driven platform allows us to offer affordable and timely credit, along with facilitating commerce from the farmgate to the processing units. We use cutting-edge technology to validate, identify, and monitor every transaction, making the whole process seamless for all stakeholders involved,” added Joby.
Early results indicate KiVi’s market traction, with 80% of their customers accessing agriculture-specific loans for the first time, 60% witnessing an income growth, and a strong Net Promoter Score of 77. The startup also enjoys partnerships with prominent lending institutions.
Currently operational in Tamil Nadu and Bihar, KiVi has enabled credit access for over 1,500 farmers and launched MSME loan products for agri-businesses. They have also facilitated commerce and trade finance in agricultural commodities like wheat, paddy, and maize.
Emmanuel Murray, Investment Director at Caspian Leap for Agriculture Fund, commented, “KiVi brings an innovative and much-needed solution to the agri-fintech landscape, and we’re eager to see how they will reshape rural financial services and agriculture.”
Abhay Agarwal, Principal at Piper Serica Angel Fund, expressed a similar sentiment, “We’re thrilled to back a team that’s committed to resolving some of the most urgent issues facing the agriculture and rural sectors.”
Concluding the announcement, Joby said, “The funding will accelerate our technology development, broaden our last-mile outreach, fortify our product offerings, and help us secure an NBFC license.”
