Ankur invests in medicinal herbs supplier Carmel Organics

NEW DELHI: India-focused venture capital firm Ankur Capital has invested an undisclosed amount in medicinal herbs supplier Carmel Organics. Founded in 2012 by Shailendra Dhakad and Rajesh Sagitla, Carmel helps small farmers increase their incomes by growing organic herbs and spices.

The startup intends to use the funds raised to scale-up business, with a special focus on targeted global markets. “We were attracted by Carmel Organics’ positioning as a quality supplier of medicinal herbs and its traction in markets like Europe and Australia,” said Krishnan Neelakantan, senior investment director at Ankur Capital. “In the founders, we saw a great combination of strong on-ground connect with farmers as well as drive to build a global scale firm.”