IIM Ahmedabad startup incubator invests in dairy-tech startup

NEW DELHI: The Indian Institute of Management (IIM) Ahmedabad based agri-fintech startup OneImpact Technologies has announced that it raised funding in a seed round from CIIE.CO, a startup incubator established by IIM Ahmedabad. The startup received funding through the IIMavericks programme, a programme that provides mentoring and financial support to graduating students in their innovative pursuits such as start-ups.

OneImpact Technologies is a startup that seeks to help dairy farmers with credit accessibility. It was established by Maharshi Thaker, a second-year student of IIM Ahmedabad. The company aims to help farmers in lending by enabling identification, risk profiling and diversification of credit portfolios by using digital technology, artificial intelligence and machine learning capabilities. "The company aims to use the fresh funds to scale up loan disbursements to dairy farmers and validate proof of concept," said a statement from CIIE.CO, IIM Ahmedabad .

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“I was always very purpose driven, and dropping out of the IIMA placements was a big decision, however, I was committed to build a business that would create value and benefit the masses. In the pursuit of my dream, I received tremendous support from IIMavericks program, and today we, at OneImpact, are on the path to revolutionise Agri-lending in India via digital technologies,” said Thacker.

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"We understand that The most critical period for any entrepreneur is the first two years of business challenges. Identifying this need gap, we launched the IIMAvericks program to provide mentorship & financial support to graduating students to help them sustain during the initial period of their venture. Happy to extend the same support and guidance to OneImpact." said, Vipul Patel, Partner, Seed Investing at CIIE.CO.