Incofin India Progress Fund has invested EUR 5.6 m (INR 500m) in Qul Fruit Wall Farm Installations Private Limited (Qul), a Kashmir based horticultural startup. Qul becomes the first agtech in the region to receive global institutional capital, marking a significant milestone for the startup ecosystem of the state.
Qul, founded in 2019, is a tech-enabled integrated platform covering the entire apple value chain from orchard installation, development and maintenance to controlled atmospheric storage facilities to digital supply chain integration with the national markets, thereby empowering 5,000 farmers in the Kashmir Valley.
Incofin aligns with Qul’s ambitious vision to quadruple apple yields in the next 5 years and expand operations to benefit 30,000 farmers. This partnership not only injects much-needed capital but also strategic support for Qul’s impactful mission.
The investment will not only crowd-in more private capital to Jammu & Kashmir but also support delivery of the potential of the horticulture sector, which supports the livelihood of half the population of the state.
Commenting on the investment, Rahul Rai, Partner at Incofin India shared “By leading this investment round, Incofin furthers its mission to back innovative agritech startups that make farming viable and sustainable. We are excited by Qul’s ambition to take Indian apples to the world stage.”
For more information, please see Incofin_Qul Press Release.
