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Star Agriwarehousing Gets $41 million Funding From Temasek

29 April 2014

INDIA - Star Agriwarehousing and Collateral Management Limited, a post harvest solutions provider has received $41 million funding from Singapore based investment company, Temasek.

The funds will be used in developing world class agri-infrastructure like warehouses, supply chain & logistics facilities with a pan-India footprint, Star Agriwarehousing said in a statement.

With a key focus on building efficiencies in the agri value chain, the company will invest in acquiring international best practices like silo based storage, mechanized sorting of agri-produce and technology to ensure real time inventory and risk management, the statement adds.

Amith Agarwal, co-founder and Executive Director of Star Agriwarehousing said: “We look forward to leveraging Temasek’s global network and insights of the agri-logistics space to grow StarAgri to a company of international size and reputation.”

“We are committed to building a professional company of global scale which contributes to the India food security programme and helps our country regain the glory of being the food bowl to the world,” Agarwal adds.

The financial advisor for the transaction was Kotak Investment Banking.

Star Agri currently provides collateral management services to 31 banks and financial institutions and has facilitated over $5.8 billion of funding till date to farmers, traders and processors.

“Through StarAgri’s efficient procurement, transparent price discovery, collateral finance and innovative value added services, the company is expected to touch the lives of millions of farmers.

Together with the StarAgri promoters, we look forward to building a company that will contribute to India’s agri-infrastructure, especially in rural India,” Girish Nadkarni, Partner, IDFC Alternatives, initial investor that has invested $20 million in 2012 said.

Star Agri also provides procurement services for large traders and processing companies. With its pan India reach and knowledgeable team it has procured goods worth $410 million to date.

TheCropSite News Desk

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