Caspian Debt, which provides loans to start-ups and social enterprises, has added nine new SMEs operating in varied sectors to its portfolio up to October this fiscal.
The loans disbursed were from ₹ 50 lakh to ₹ 5 crore and fund their operational requirements. The funding will help the enterprises manage working capital cycle, procure raw materials and strengthen supply chains, the Hyderabad-based firm said on Thursday.
Chakr Innovation, Retas Enviro, Eggoz, Varcas Automobiles, Samosa Singh, Sevamob Ventures, Hesa Enterprises, Payagri Innovations and Process Nine Technologies are the nine SMEs and operate in food and agriculture, education and skill development, clean energy and healthcare sectors.
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Head of Caspian Debt Avishek Gupta said, “There is enormous scope for growth in the SME sector. We have witnessed the stability and resilience of SMEs during the pandemic and other economic crises in the past and are sure that timely and effective capital infusion will further enhance the sector’s growth.”
He said this citing challenges on the logistics front, supply chain disruptions, stalled projects in the execution stage and delays in collection of receivables the SMEs had faced as a result of the lockdown triggered by the pandemic.
Sharing details of the new SMEs in the portfolio, Caspian Debt said Chakr Innovation manufactures emissions controlling devices that are retrofitted to diesel gensets; Varcas provides electric two-wheeler-based affordable mobility solution in tier 2 and tier 3 cities of north India; Process9 offers real-time multi-language access for websites and Samosa Singh operates cloud kitchens with the aim to recreate and lead the Indian snacks category by making household nostalgic Indian snacks accessible to all.
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HESA connects Bharat Phygitally by enabling end-to-end access to the untapped rural markets as a one-stop solution provider, while Sevamob is working to provide primary medical care to rural and semi-urban fraternities supported by an asset-light delivery model and backed by CSR of various large-scale MNCs. Retas is engaged in providing fresh water management solutions; and Eggoz solves problem of inefficiencies in the poultry supply chain, it said.