Dvara E-Registry, an AgFinTech start-up, said it has raised a pre-Series A round of funding from venture capital firm Omnivore and Dvara Holdings, reported ET. The company, however, did not disclose the quantum of funds raised in the pre-series A round. Including the latest round and the seed funding, Dvara E-Registry has, so far, raised $2.5 million in total.
Set up in 2019, Dvara E-Registry is working towards building a digital platform that enables all stakeholders in the agri-value chain, especially smallholder farmers, access to financial services and agricultural markets. It works with FPOs and farmers to ensure their success by providing access to credit, insurance, input and output markets, and extension services via partner institutions, using farm-level data and actionable insights generated using alternate data, remote sensing, GIS, and AI technologies. The startup has worked with over 55+ FPOs and impacted the lives of over 25000+ farmers across 8 states.
Sanjay Mansabdar, Founder and CEO of Dvara E-Registry, said, “We are delighted to welcome Omnivore as an investor in Dvara E Registry. Our Doordrishti platform, which focuses on farmers and FPOs, will benefit significantly from this partnership with Omnivore and its Agri focused portfolio companies. This, with Dvara Holding’s deep experience in financial inclusion, will allow us to create an unmatched full-service platform for farmers, FPOs, and indeed the entire value chain.”
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Doordrishti, the mobile and web-based platform developed by Dvara E Registry, allows farmers, FPOs, and partner institutions to leverage traditional and alternative data to digitize farmer and FPO land and business activity and provide them with farm and crop-specific products and services. KhetScore, an AI-based farm score developed by Dvara E Registry, leverages remotely sensed data from several satellites and enables remote multi-dimensional assessment of both historical and concurrent agricultural activity.
Jinesh Shah, Managing Partner, Omnivore, said “To empower every stakeholder in the Agri value-chain, we require an integrated universally accessible platform that informs, creates linkages, and generates productivity for all. Dvara E-Registry is doing just that.”
