Man Quits Wipro Job to Launch Agritech Startup, Earns ₹205 Cr in FY23

Shashi Kumar's Vision and Mission for Sustainable Farming

The Indian agriculture sector has long struggled with challenges that impact farmers' livelihoods. With increasing demand for organic and sustainable products, the agriculture market has been ripe for transformation.

In that context, let's take a journey to Tiptur, a special place in Karnataka, India. 

There, a man named Shashi Kumar started a journey that changed things in a big way. Shashi grew up in a family of farmers, and he knew the hard work and difficulties they faced.

After learning some things in a local school, Shashi wanted to know more. He went to Bangalore University and later studied a lot about technology and communication at IIT Chicago.

He worked in the telecommunications industry for close to 17 years, 13 of which were in Wipro Technologies. He loved debugging protocol stacks and driver implementations, especially Adax SS7 boards.

But during his time at Wipro, Shashi saw huge problems in farming. He saw that farmers like his dad were having a tough time. This made him really want to make things better.

Shashi talked to his friends at Wipro about his ideas, and they all got excited. 28 people, inspired by Shashi's determination, decided to join him on this amazing journey.

In 2010, Shashi and his friends quit their regular jobs to start something new: Akshayakalpa Organic.

Their Big Mission? Making farming more reliable. 

They wanted to make farming better so that small and medium farmers could earn more money.

Shashi Kumar, Founder & CEO of Akshayakalpa, explained his idea to Startup Pedia, "We want to help young people stay in their villages instead of moving to cities by creating ways for them to make money."

Innovation in Organic Dairy: Akshayakalpa's Journey and Achievements

They understood that farmers needed a way to sell their products and make money – and in order for that to be done, they needed to be linked to the market with a commodity. 

So, they came up with an idea: they used milk to connect farmers and people who wanted to buy it.

This made Akshayakalpa Organic the first certified organic dairy business in India. They used smart methods mixed with traditional farming to make sure the milk was really good. They even tested it to make sure it was safe to drink.

At Akshayakalpa Organic, Shashi and his friends wanted to solve many problems for farmers. They wanted to:

• Help people start their own businesses
• Make sure farmers earned money
• Make products better right from the farms
• Stop young people from leaving villages for cities

They started small, working with just three farmers who produced raw milk. 

But as time went on, they got recognized for their amazing work and smart ideas. They even won awards from places like ISB and Ashoka.

Shashi Kumar cared about more than just money. He wanted to help the environment and make farming better. They thought about nature and the future while farming.

They knew how important farmers are, and they wanted to make sure farmers felt proud of their work.

Impact of Akshayakalpa Organic in Rural India's Sustainable Development

As years passed, more and more people liked what Akshayakalpa Organic was doing. They became bigger and bigger. Now they have over 10,000 customers in 600 farms. They also have a team of 400 talented people who worked together for ten years.

People in big cities like Bengaluru, Chennai, Hyderabad, Mumbai, and Pune also loved their organic products.

But Shashi Kumar didn't forget his mission. He saw a big problem in farming: not enough education. So, he started teaching farmers to be better at their job and feel proud.

Now, their goal is to help 5,000 villages and 5,000 farmers, making a big change in rural India.

But Akshayakalpa Organic didn't stop at milk. They also started growing organic vegetables and fruits, showing they cared about healthy food.

They became even bigger by making new things like Ultra High Temperature (UHT) milk packs. People loved these healthy choices, showing how much things were changing.

Even though they faced problems, they never gave up. They worked hard even when they didn't make much money. The inauguration of a new ₹10 crore plant marked a turning point. With the capacity to process one lakh liters per day, the organization aims to achieve breakeven by the end of FY24.

Akshayakalpa Organic: Impressive Growth Trajectory and Valuation Milestones

As per a report by Entrackr, in mid-2022, Akshayakalpa Organic raised $15 million in its Series B round from British International Investment, Rainmatter Foundation, and its existing investor Venture Dairy. 

As per a report by The Hindu, Mr Kumar said that they are eyeing a 25% growth in revenue to ₹300-350 crore in FY23-24.

Akshayakalpa Organic started small but became a huge success. It shows that when people work together and care about the environment, they can change things. 

Just like Shashi Kumar said, "Our journey proves that when people share a goal, they can make a big difference."

FAQ

1. What is Akshayakalpa Organic, and what does it specialize in?

Akshayakalpa Organic is India's first certified organic dairy business that specializes in producing high-quality organic milk and diversified into organic fruits and vegetables.  

2. Who is CEO of Akshayakalpa Organic?

Shashi Kumar, the founder & CEO of Akshayakalpa Organic, was inspired by his family's farming background and the desire to improve farmers' livelihoods.

3. What was the primary motivation behind the establishment of Akshayakalpa Organic?

The primary motivation behind Akshayakalpa Organic was to improve farming practices, empower rural communities, and create sustainable livelihoods for small and medium farmers in India and that’s how the story of Akshayakalpa Organic started.

 4. What milestones and recognitions has Akshayakalpa Organic achieved in its quest for sustainable farming and rural development?

Akshayakalpa Organic received accolades from ISB, Ashoka, and other institutions for its sustainable farming practices, rural development initiatives, and its pioneering role in the organic dairy industry.

 5. What is the valuation of Akshayakalpa Organic? Have they raised any fund?

Akshayakalpa Organic's valuation has seen significant growth, highlighted by its successful fundraising endeavors. In mid-2022, the company raised $15 million in its Series B round from notable investors like British International Investment, Rainmatter Foundation, and its existing investor Venture Dairy. This fundraising round signifies investor confidence in Akshayakalpa Organic's vision and potential for sustainable growth.