Edited excerpts from the press release:
Sohan Lal Commodity Management (SLCM), an agri-commodity logistics and procurement company based in Delhi, has received a Rs 10 crore investment from VC firm Nexus Venture Partners. Sandeep Singhal of Nexus Venture Partners will join the Sohan Lal Commodity Management board. ICICI Bank was the sole advisor to this transaction.
SLCM provides comprehensive agri-commodity warehouse management and procurement solutions to farmers, processors, traders, agri-exchanges and government organizations across 70 locations and 12 states in India. Last year the company handled over Rs 5,000Cr of agri-commodities ranging from grains, oilseeds, pulses and spices among others. SLCM works with leading commodity exchanges as their delivery partner across India and provides collateral management for banks for their warehouse receipt based financing products.
Speaking about the funding, Mr Sandeep Sabharwal, Founder & CEO, Sohan Lal Commodity Management, said, “We plan to become the leading agri-logistics company in India covering the whole gamut from farm to port. The funding will help us expand our warehousing capacity and help us grow our pan-India presence.”
For more details about SLCM, visit www.slc-india.com
For more on Nexus Venture Partners, visit www.nexusvp.com