Aavishkaar India Micro Venture Capital Fund has invested Rs1 crore in Zameen Organic, a Hyderabad based organic cotton trading company. Zameen will invest the amount to strengthen its sales teams across the US, Europe and India.
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Satish Chukkapalli, Director, Zameen said that the fund will facilitate initial growth of the company and scale up the farming societies that govern the company. “In order to maximise farmer benefits, we aim to go main stream and hit the high street. We have earmarked a large proportion of this funding for the support of our sales teams across Europe, the US and India,” said Chukkapall.
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The company further stated that it sees a significant growth in domestic organic food market. The company is currently working with the farmers to develop a business plan and new product range. Zameen believes that the fresh cash inflow will help the company to launch its new range of food early next year, that include dhal among others.
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Vineet Rai, Director, Aavishkaar said that Zameen was a perfect fit with their investment portfolio as both the companies believe in producer ownership and their commitment to the management team.
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Last season, Zameen has harvested around 374 tonnes of organic cotton lint from its farms in Maharastra and Andhra Pradesh.