An agtech start-up incubated at T-Hub is attempting to tackle a special dilemma that farmers in the nation facial area – little or no benefit-addition to the commodities that they provide, resulting in poor incomes.
Our Meals, which is closing the monetary year 2020-21 with a turnover of ₹85 crore, has processed 10,000 tonnes of foodgrains.
The start-up is relying on low-expense, small machines for the processing of foodgrains in buy to continue to keep the expense overheads underneath manage. It identifies progressive farmers with small holdings in villages and will help them get bank financial loans to set up the village-degree franchises.
“Each of the unit would have to have an investment decision of ₹7 lakh, which includes ₹3 lakh from the rural business people. We enable them protected a bank personal loan, besides investing in them in fairness,” Balareddy, Founder and Main Executive Officer of Our Meals, explained to BusinessLine.
It has so considerably set up 1,000 these kinds of processing units in 9 States. “Each unit can system up to 400 kg of grains or other agri commodities,” he stated. The organization will also handhold the farmers to provide their develop to both bulk purchasers or to provide it as a result of the company’s brand name.
On Friday, the company entered into an arrangement with the Government of Telangana to set up around 20,000 micro processing units in various components of the State with an investment decision of ₹1,500 crore. The start-up has a facility to manufacture processing machines at Zaheerabad.