Sohan Lal Commodity Management (SLCM), an agri-commodity logistics and procurement company based in Delhi, today announced that it has received a Rs 10 crore investment from a venture capital firm-- Nexus Venture Partners.
"We plan to become the leading agri-logistics company in India covering the whole gamut from farm to port. The funding will help us expand our warehousing capacity and help us grow our pan-India presence," Sandeep Sabharwal, Founder and CEO, Sohan Lal Commodity Management.
SLCM provides comprehensive agri-commodity warehouse management and procurement solutions to farmers, processors, traders, agri-exchanges and government organisations across 70 locations and 12 states in India. Last year, the company handled over Rs 5,000 crore of agri-commodities ranging from grains, oilseeds, pulses and spices among others.
Sandeep Singhal of Nexus Venture Partners who will join the Sohan Lal Commodity Management board. He said, "The agriculture supply chain in India is currently very inefficient leading to huge losses in agricultural commodities in India. Sandeep Sabharwal is a high energy passionate entrepreneur who has developed high quality processes to ensure very low wastage while procuring, transporting and warehousing of commodities."
ICICI Bank was the sole advisor to this transaction.
