The impact investor has picked up a minority stake in Suminter, marking its second deal in the food and agriculture sector in the India.
Suminter India Organics Pvt Ltd has raised an undisclosed amount of funds from Switzerland-based responsAbility Investments AG.
The impact investor has picked up a minority stake in Suminter, marking its second deal in the food and agriculture sector in India. The funds raised will be used for expansion and working capital requirements.
Founded by Sameer Mehra in 2004, Suminter sources, processes and exports organic products like soya, spices and herbs, cocoa, virgin coconut oil, vanilla, sugar, cereals and pulses, and cotton.
Akshay Dua, regional head of private equity investments in the agriculture sector at responsAbility, said, "Agriculture and food is one of the core sectors for responsAbility globally. We are excited to back a leading organic products player backed by a driven and capable management team and featuring an inclusive business model that integrates smallholder farmers into global supply chains."
Sameer Mehra, Founder and Promoter of Suminter, said, "We, at Suminter, believe in a triple-bottom-line approach to create lasting impacts in society resulting in social and economic growth of farmer communities whom we work with, environmental benefits by promoting chemical-free farming and ensuring that our customers receive a highly nutritious and chemical-free product."