 "Funding, Fund raising, Funding round")
Agriculture value chain enabler Samunnati on Friday said it has raised Rs 133 crore ($16 million) in credit financing from Swiss impact investment firm Blue Earth Capital.
This is Blue Earth Capital's first debt investment and will help Samunnati expand initiatives aimed at improving the lives of small farmers across the country through projects focused on climate adaptation, resilience and mitigation practices.
The funding from Blue Earth is the single largest debt tranche raised by Samunnati during the first quarter of the fiscal year.
"We're grateful for the support from Blue Earth Capital... This boost will strengthen our efforts to improve the lives of smallholders through climate and sustainability projects," Samunnati founder and chief executive Anil Kumar SG said in a statement.
In the current fiscal year, Samunnati has already secured $5 million (Rs 41 crore) in debt funding through external commercial borrowing from Enabling Qapital. In the previous fiscal year, it raised a total of $155 million (Rs 1,291 crore) in debt and equity financing.
Currently, 22 per cent of Samunnati's active lending portfolio is dedicated to climate-smart financing models.
Amy Wang, head of private credit at Blue Earth Capital, said the firm is "excited about supporting the first mover in agriculture value chain financing in India.
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