MICROCAPITAL BRIEF: Agritech SuperZop Nets $2.7m in Equity from Incofin India Progress Fund to Connect More Farmers, Retailers

Incofin Investment Management of Belgium recently invested USD 2.7 million to purchase a stake of undisclosed size in SuperZop, a technology firm that helps farmers and mills sell their whole grain, flour and other staples to restaurants and shops in India. SuperZop also packages food under its Khetika brand and provides training on topics such as industrial hygiene and warehouse logistics. In the past year, it has served 2,800 farmers, delivering 20,000 tons of food.

Incofin made the investment – its second in SuperZop – from the India Progress Fund. Incofin completed the first close of this fund in 2021 with the goal of providing “patient capital, mentoring and access to a global network” for financial services providers and actors in agricultural value chains.

Founded in 2001, Incofin is a for-profit firm that seeks “to promote inclusive progress.” As of 2022, it had 350 investees in 65 countries, mostly active in financial inclusion and agriculture. Incofin’s portfolio is valued at USD 1.2 billion and comprises funds affiliated with organizations such as the Belgian cooperative BRS, the German firm Invest in Visions, and Belgium’s vdk bank. Incofin has offices in Belgium, Colombia, Cambodia, India and Kenya.

Sources and Additional Resources

Incofin press release
https://incofin.com/incofin-makes-a-second-investment-in-agritech-company-superzop/

SuperZop homepage
https://www.superzop.com

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