ONO Secures $1.2 Million in Funding

ONO, known for its innovative approach in agri-finance, has successfully raised $1.2 million in a pre-Series A funding round, with leadership from Aeravti Ventures. This funding round also included contributions from Angels and Tremis Capital. This investment represents Aeravti Ventures’ second financial backing of ONO, as they previously led the startup’s seed funding.

Goals for the New Capital

The newly acquired funds are set to bolster ONO’s technology platform, facilitate entry into additional markets, and enhance its lending infrastructure.

The Vision Behind ONO

Founded by Rama Rao Kancharapu and David Pokuri, ONO has created a data and AI-driven platform aimed at optimising post-harvest agricultural supply chains and providing lending solutions for Agri-SMEs. The startup equips farmers, traders, transporters, and buyers with essential market intelligence, pricing data, logistics assistance, and access to formal credit.

Current Operations

ONO’s operations extend across 12 states and over 125 districts, impacting more than 1.3 lakh participants in the agricultural ecosystem. The platform currently boasts over 2,000 paying subscribers and has facilitated payouts exceeding Rs 200 crore. ONO asserts that it has efficiently enabled the transition of more than 25,000 metric tonnes of produce via long-distance agricultural trade routes.

Expansion Initiatives

In line with its growth strategy, ONO has acquired a substantial stake in a Non-Banking Financial Company (NBFC) to enhance its lending operations, thus improving credit accessibility for Agri-SMEs.