Cricketer Ajinkya Rahane Announces ₹ 1 Crore Seed Fund for Agritech Startups
Popular cricketer Ajinkya Rahane announced a seed fund of ₹ 1 crore for agritech startups as Indian agriculture is rapidly gaining attention with the immense opportunities it holds. Rahane’s vision is to directly benefit the farmers and this initiative will be accomplished through his company ‘Ajinkya Rahane & Associates‘.
A committee of Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) will help in shortlisting the startups as they have expertise in legal, tech, agriculture and allied areas of agriculture.
Rahane said, “Farmers are our heroes and I have always wanted to contribute to their financial empowerment. I have made few investments from this fund before; However, I was looking for an institutionalized and structured form of funding for agri-tech start-ups. Even though the funding will be in the form of equity, I am not looking at monetary returns.”
|Image – Ajinkya Rahane @twitter|
As per a report by Krishi Jagran citing MCCIA team, three more individuals, in addition to Rahane, have expressed interest in investing in the fund.
The startups to be funded by Rahane will be curated by MCCIA which comprises legal, finance, technology, and agriculture domain experts.
MCCIA is aiming to exhaust the seed capital put up right now by November 2023.
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