Agrostar acquires INI Farms

On Thursday, agriculture startup, Agrostar has acquired INI Farms Pvt Ltd to expand its business. Agrostar is a farm advisory and input platform. The company aims to increase its revenue to more than Rs 1,000 crore in the next fiscal year. At the acquisition of INI farms, co-founder and chief executive officer (CEO) of AgroStar, Shardul Sheth said: "We have acquired INI Farms through a combination of cash and stock. However, the startup did not disclose the amount at which it acquired INI Farms. INI Farms exports fruits and vegetables and markets products under the brand name ‘Kimaye’. It was founded by Pankaj and Purnima Khandelwal in the year 2009. Annually, it handles over 50,000 tonnes of fruits. Agrostar aims to help farmers in marketing their products in the domestic market as well as overseas through this acquisition. Mr. Sheth further said: "Kimaye is now a well-known global consumer brand out of India, synonymous with great quality and safety. This acquisition will enable us to rapidly scale our business into the domestic and international food supply chains."