Ergos operates a farm-gate Grainbank model that gives farmers access to better prices, storage, and the ability to turn stored grain into tradable assets and collateral for credit via NBFCs and banks. The company uses technology to offer end-to-end post-harvest supply chain solutions tied to its physical network of farm-gate warehouses. Ergos reports supporting over 160,000 farmers and operating Grainbank locations in more than 200 sites across Bihar, Karnataka, and Maharashtra. The company says farmer income has increased 30–35% annually with its assistance. On the financial front, operating revenue grew from Rs 40.81 crore in FY21 to Rs 134.6 crore in FY22 (a 3.3x increase), while losses rose from Rs 5.8 crore to Rs 23 crore over the same period; FY23 statements have not yet been submitted. Prior fundraising and investor relationships have supported network growth and product expansion. Ergos operates a farm-gate Grainbank model that enables farmers to convert their grains into tradable assets, avail credit against stored produce via NBFCs and banks, and obtain end-to-end post-harvest supply chain services. The company leverages technology to facilitate these services and to connect farmers to better price discovery. Ergos was founded by Kishore Kumar Jha, Praveen Kumar and Priyanka Kumari and is based in Patna. According to the company, more than 32,000 farmers are registered on the platform who have sold Rs 126 crore worth of produce. Ergos has a physical footprint in more than 60 locations in Bihar and targets to scale into nearby states, aiming to serve more than a million farmers by 2025 with over 2,000 branch locations. The company’s post-money valuation after the latest tranche is reported at Rs 160 crore (about $22 million). Ergos operates a grain-bank platform that enables farmers to convert their grains into tradable assets, avail credit against stored produce via NBFCs and banks, and secure better prices. The company says it has close to 30,000 farmers registered on the platform who have sold about Rs 125 crore worth of produce. Ergos was backed by Avishkar Bharat Fund in 2016 when it was at the ideation stage. The business model focuses on farmer onboarding, storage-to-finance linkages, and market access for produce. The company is five years old and is based in Patna. Recent investor interest comes amid broader funding momentum in agritech and supply-chain startups during the pandemic. Financially, the firm completed Series A share allotments and converted earlier convertible debentures as part of its funding round. Founded in 2010, Ergos operates a 'grain bank' model that digitizes grain deposits and runs a network of micro-warehouses located close to farmers. Farmers deposit bags of grain, receive certification/passbook records, and can withdraw or sell equivalent-quality grain from the network. The company leases or repurposes local village buildings as asset-light micro-warehouses and trains farmers in packing and warehouse management. Ergos generates revenue by charging storage rent to depositors and fees on sellers, and by creating arbitrage between buyers and sellers. It currently operates about 100 micro-warehouses and plans to scale beyond Bihar into multiple states. Management aims to secure over one million farmers, expand to roughly 2,000 branches within five years, and increase average grain stock from about 20,000 tonnes to millions of tonnes.

Total raised

$21M

Funding rounds

5

Latest round

Series B

Latest activity

Sep 2023