ⓘ Featured image credits: Inventiva
Ajinkya Rahane who is the vice-captain of India’s test cricket team has reportedly invested in the Pune, Maharashtra-based organic products startup MeraKisan for a minority stake. The startup is an associate of Mahindra Gri Solutions Ltd and a fully-owned subsidiary of Mahindra and Mahindra. Rahane will also be the brand ambassador for the startup as said by the Mahindra Group in a statement.
PTI contacted Ashok Sharma, the Managing Director and CEO of Mahindra Agri Solutions who said that Rahane will procure a minority stake in MeraKisan without disclosing the amount of investment by the cricketer. Sharma also claimed that MeraKisan is pocketing revenue of INR 2 – 3 crore monthly and growing rapidly with an inventory of over 130 products at present. Started in 2016, the company is growing at an impressive rate of 40 percent annually and expecting revenue of INR 1,300 crore in FY20.
“MeraKisan is a 2-3 year old company with a focus on organic food. The company works with over 7,000 farmers, helping them with certification, technical support and initial handholding,”
“The start-up has witnessed robust growth since its inception and we expect it to contribute 5-7 per cent of the total revenue of Mahindra Agri Solutions by FY25,” Sharma told PTI.
Adding further on Rahane’s association with MeraKisan, Sharma said,
“We are delighted to welcome Ajinkya to the Mahindra family, he is a role model for the new generation and a passionate supporter of the Indian farming community.”
Rahane on being a part of MeraKisan told PTI,
“I strongly believe that organic food contributes to overall wellness, and this partnership is significant as we share a common goal. Further, I am excited to be part of a journey which delivers sustainable prosperity for our farmers through organic farming methods”.