Cricketer Ajinkya Rahane has invested in Mahindra Group-backed organic products startup MeraKisan. Rahane, who is the vice-captain of the Indian Test Cricket team, will own equity in MeraKisan, and will also be its brand ambassador, Mahindra Group said in a statement.
MeraKisan is a three-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 hand-holding. Founded in 2016, MeraKisan Pvt Ltd is an associate of Mahindra Agri Solutions Ltd, a wholly-owned subsidiary of Mahindra and Mahindra. It is a prominent leader in the organic food industry closely working with organic farmers, assuring certified, nutritious, and healthy organic food.
Ashok Sharma, MD & CEO, Mahindra Agri Solutions, said, Rahane will hold a minority stake in the company, but did not disclose the amount invested by the cricketer. He also said, MeraKisan is posting a revenue of Rs 2-3 crore per month, and is growing very fast. He said the company currently sells more than 130 products. The startup is expected to contribute 5-7 percent of Mahindra Agri Solutions by 2024-25, he said.
The company is growing at 40 percent annually, and is expected to see a revenue of Rs 1,300 crore in FY20, he added. The startup has witnessed robust growth since its inception and we expect it to contribute 5-7 percent of the total revenue of Mahindra Agri Solutions by FY25,
On Rahane’s association, he 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 said, “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“.
More from Featured
International cricketer and former India captain, Mahendra Singh Dhoni, has made an undisclosed amount of funding in Bengaluru-based KhataBook that …
Candor Techspace and Nobroker have introduced NoPlastic as a part of their Board Room Agenda to ensure long-term performance gains In …