In a series of funding from Chiratae Ventures and Aavishkar Capital, Agritech startup Ergos Business Solutions has raised Rs 38.5 crore. It is expected that the ongoing round could see it raise as much as Rs 80 crore.

The company is set to offer farmers with a platform which will act as a bank, while it would also be offering facilities for storage, digitisation, credit and liquidation for grains. To help them improve their incomes, for over five years, the startup said that it has been working with small farmers.

“We are building the Ergos Grainbank to serve small and marginal farmers by leveraging technology and data sciences to disrupt the way farmers deal with their produce. We intend to rapidly scale our geographic footprint...at over 2,000 Grainbank locations over the next few years,” said Kishor Jha, founder and CEO at Ergos.

“Ergos is bridging the large gap between the selling price of produce and the realisation of farmers at the farm-gate by using technology to facilitate credit and market linkages to the grains stored with it,” said TCM Sundaram, founder and MD at Chiratae Ventures.

“Ergos is expected to capitalise on its early lead to become a market leader that creates sustainable development to the farmers' life,” added Sundaram.