Indian Agro-Industry start-up QuantoAgro raises USD 650K to expand sustainable essential oils business
Mar 13, 2023
Mumbai (Maharashtra) [India], March 13 (ANI/BusinessWire India): QuantoAgro has announced raising funds through angel/HNI round co-led by SANangels Network with participation from HNIs from UAE and the USA and opened the round for institutional investors. ReHive.Org was the advisor to this round.
With circular economy initiatives that generate additional revenue streams and reduce operating costs, QuantoAgro aims to create a sustainable and economically resilient agricultural sector in India and improve smallholder farmer livelihood. It is committed to reducing environmental impact of agriculture, transitioning to chemical-free, regenerative, and commercial-scale farming of aromatic crops to make specialty ingredients like essential oils for pharma, home & personal care, food & beverage, and aromatherapy industries.
"We are delighted by the response we are getting from our customers and are rapidly expanding farming and processing capacity to meet their demands. We will use this funding to increase production capacity, diversify product mix, and hire talent to deliver value to our customers," said Dushyant Gupta, the CEO of QuantoAgro.
Recently, QuantoAgro acquired 400+ acres of farmland in Maharashtra for expanding its operations and is setting up a world-class essential oil plant including isolate extraction capabilities.
In the next 3 years, QuantoAgro aims to generate 1 million employment days in rural India, expand farming to 3,000 acres, use 1,03,175 MT of agricultural waste, sequester 20,000 tons of carbon, and produce 12,50,000 Kgs of sustainable essential oil.
"We believe QuantoAgro's ability to streamline a highly fragmented farming and processing value chain, deliver consistently on product quality, and focus on sustainability will be a game changer in the essential oils industry. We are excited with the overwhelming response from our angel investors and look forward to supporting QuantoAgro in their institutional round," said Sanjay Shukla, Co-Founder and CEO of SANangels Network.
Globally essential oils industry is valued at USD 22 billion and Indian market is around USD 1.5 billion with some of the segments growing at 7-12% CAGR. The need to replace synthetic components with sustainably sourced plant-based ingredients is driving demand globally.
With its innovative approach to sustainable agriculture, QuantoAgro is well-positioned to take advantage of this growing demand. The company's focus on reducing environmental impact of agriculture while delivering high-quality products has caught attention of customers worldwide.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
