Home / Companies / News /  Suminter India raises funds from responsAbility’s PE arm

New Delhi: Organic products company Suminter India Organics Pvt. Ltd, which has previously raised funds from venture capital firm Nexus Venture Partners, has raised an undisclosed sum from responsAbility Investments AG’s private equity arm. The terms of the latest deal were not disclosed, but responsAbility typically invests anywhere between $5 million to $25 million in mid-stage ventures and companies.

In 2008, Mumbai-based Suminter India Organics Pvt. Ltd had raised funding from Nexus and Capricorn Investment Group. As a part of the latest deal with Suminter, Akshay Dua from responsAbility will join Suminter’s board. responsAbility is a global social impact investment firm based in Zurich.It currently has over $3 billion in assets under management.

Earlier this year, responsAbility also invested in Samunnati Financial Intermediation and Services Pvt. Ltd, a non-banking financial services company (NBFC) focusing on loans to farmers and entities engaged in agriculture.

Founded in 2004, Suminter is an organics supply chain management company that sources, processes and exports organic and genetically modified (GM) free products such as spices, cereals, pulses, herbs and cotton.

The company has operations in Asia and Africa and claims to serve customers in 20 countries including US and Europe.

Suminter plans to use the fresh capital primarily for expansion and working capital requirements.

“Agriculture and food is one of the core sectors for responsAbility globally. We are excited to back a leading organic products player backed by a driven and capable management team and featuring an inclusive business model that integrates small holder farmers into global supply chains," said Dua.

Suminter also helps small-holder farmers convert to certified organic cultivation. The firm currently works with over 50,000 certified small-scale farmers in India.

It claims to cover over 110,000 hectares of agricultural land to procure organic produce. Suminter also offers training to farmers on sustainable and organic farming practices that allow them to reduce costs while increasing yield. The global organic food market is growing at a compounded annual growth rate of 13% and is expected to touch $321 billion by 2025, according to a report by Dublin’s Research and Markets.

“We, at Suminter, believe in a triple-bottom line approach to create lasting impacts in society resulting in social and economic growth of farmer communities whom we work with, environmental benefits by promoting chemical-free farming and ensuring that our customers receive a highly nutritious and chemical-free product," said Sameer Mehra, founder and promoter of Suminter.

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