ERGOS Raises $10 Million In Series B Funding Ergos brings small and marginal farmers into the mainstream of economic activity through enabling access to storage services for 8-9 months after the harvest

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Bengaluru based Agritech company Ergos has raised $10 million through a combination of equity and debt, as part of its Series B round led by Abler Nordic – a Norway based financial inclusion fund, along with existing investors Aavishkaar Capital, Chiratae Ventures and Trifecta Venture Debt Fund.

"There is a pressing need to revitalise agriculture by empowering farmers and catering to their needs at the farmgate. Ergos's comprehensive Grainbank platform enables farmers to take optimal decisions on sales / storage of their produce, access credit from Banks as well as get access to competitive prices through planned liquidations and access to a wide spectrum of buyers. We are overwhelmed by the immense opportunity ahead of us and we intend to further deepen our presence amongst the farming community even whilst we rapidly scale our operations," said Kishor Jha, founder and CEO, Ergos.

Ergos brings small and marginal farmers into the mainstream of economic activity through enabling access to storage services for 8-9 months after the harvest. The farmers can then access credit for up to 70 percent of their stored and digitised grain through an end-to-end digital process with affordable interest rates from banking partners.

"Our Investment in Ergos demonstrates Abler Nordic's approach of investing in a wide range of innovative, inclusive solutions that help build financial and climate resilience. Ergos are helping solve the problem that many farmers in India increasingly face – produce spoiling due to lack of access to quality storage, affecting both the farmers' income and general food security. Our investment in Ergos aligns well with Abler Nordic's vision of contributing to a more inclusive, just and environmentally sustainable society, and we are excited to partner with them on their journey to scale and expand their solutions for the benefit of farmers across the different agri-belts in India," said Arthur Sletteberg, managing director of Abler Nordic.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Leadership

Praveen Someshwar to Succeed Hina Nagarajan as CEO of Diageo India

Praveen Someshwar will take over as managing director and CEO from Hina Nagarajan, effective from April 1, 2025. Someshwar will join as CEO-designate on March 1, 2025, before officially assuming the role.

Growing a Business

How to Build a Solid Go-to-Market Strategy for 2025

Here's your playbook for creating a GTM strategy that works in 2025.

News and Trends

Indian Companies to Raise $35 Billion in 2025 Through IPOs: Kotak Mahindra

As part of the findings of the annual roundtable at KMCC, it reported that a majority of the USD 9 billion of the IPOs in the pipeline is poised to come from the financial services sector, adding that it includes the likes of HDB Financial Services, Avanse Financial Services and also Tata Capital.

Leadership

5 Keys to Promoting Accountability in Your Business

Start by making sure you are a good role model for your employees to follow.