Omnivore Capital, a corporate venturing unit of Godrej Group, an India-based agricultural business, has struck two deals as its closes in on its final close of its fundraising.
Omnivore’s two latest investments are R5crore ($1m) in agri-tech start-up FrontalRain and an undisclosed amount for agricultural equipment firm Khedut Agro.
The venture firm has also raised about R187.5crore of its planned R250crore fund, which is expected to close later this year. Godrej’s agribusiness division Agrovet will commit 10% to the fund and act as its general partner.
Omnivore struck its first deal in August last year by investing in the series A round of India-based weather forecaster Skyline Met Solutions (SkyMet) for an undisclosed sum. It took a 33% stake, according to news provider LiveMint.com.
SkyMet started providing weather forecasting to the Hindustan Times in 2003 and has received prior funding from India-based incubator Villgro.