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HexGn and AFC join hands to fund for 1,000 agri-tech start-ups in India

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Consulting agency HexGn and AFC India have joined hands together to promote agri and allied sector startups and goal to promote 1,000 agri-related start-ups in India over the next 5 years from now.

AFC India Ltd, the Mumbai based, multi-disciplinary cross-functional development organisation established in the year 1968 and is a wholly owned by Commercial Banks, NABARD and EXIM Bank. AFC is primarily involved in offering consulting, advisory and implementation assistance for agriculture, rural development and other socio-economic sectors in India.

As a part of the partnership, HexGn will host a series of programmes and initiatives to extend the capabilities and expertise of first-generation technology entrepreneurs within the agri-tech areaa press release mentioned.

AFC, together with HexGn, intends to assist, handhold and construct a group of entrepreneurs within the area of agri-tech that can, in flip, create immense financial value and employment/self-employment alternatives, it added.

AFC India Ltd Managing Director B Ganeshan mentioned that “AFC in the last 50 years has played a vital role in developing and shaping India’s agriculture sector.”

He added that within the next Ten years, technology will transform agriculture and its allied sector, and we at AFC are delighted to associate with HexGn to fast-track and nurture 1,000 agritech start-ups from India.

AFC appears to be ahead to developing a cohesive system to nurture, coach and develop agri-entrepreneurs in direction of making a brand new self-reliant India, he added.

The agri-tech sector has registered 40% increase in the funding raising by Indian agri-tech ventures. According to the HexGn, the total funding in 2019 by Indian agri-tech organisation was about USD 28 million.

Strong basis is being laid for introducing smart digital applied sciences, technology and Artificial Intelligence to transform Indian agriculture that would help in doubling farmers’ income.

“Modernisation of agriculture and agri-trade in the next 10 years will impact about 58% of the total population of India, who are directly dependent on agriculture,” HexGn CEO Jappreet Sethi mentioned.

He added that small and incremental enhancements within the farm-to-fork supply chain will immensely help the small farmers in Indian villages.