Indian agri-logistics firm, Sohan Lal Commodity Management (SLCM) has raised Rs 100 cr (US$15.13 million) in a Series D round of fundraising led by Creation Investments Capital Management.

 

The funds from the round, which also included Everstone Capital, will be used by the company’s non-banking financial company (NBFC) unit, Kissandhan, which is targeting a 300% growth in loan disbursements and expansion into international markets by the end of this fiscal year. In the first 15 months of its existence, Kissandhan has seen a total loan disbursement of Rs 250 cr (US$37.8 million).

 

Currently, SLCM operates a technology-enabled agri-warehousing network that includes more than 760 warehouses and 17 cold-storage facilities across India with a total capacity of more than 1.77 million tons. The group handles more than 157 agri-commodities including barley, bajra, castor seeds, wheat, cotton, pulses, corn, spices, and aloe vera, among others, across all of India.

 

The company also plans to nearly double its network from its existing 760 warehouses to 1,500 – an expansion which has already begun. After realizing success with its ‘Integrated Asset Light Agri-Logistics’ model in India, SLCM began providing services in Myanmar last year.

 

“We will leverage our operational expertise with the knowledge of Creation Investments which have invested in, and possess in-depth insight of financial solution providers, across Asia and other developing economies,” said SLCM’s Promoter and Group CEO, Sandeep Sabharwal.

 

In previous rounds of fundraising, SLCM has been backed by a variety of private equity firms including Everstone Capital, Mayfield Advisors, Nexus Venture Partners, and the Emerging India Fund of ICICI.