Rukart, an agritech firm, has teamed up with SBI to assist potential customers in obtaining simple loan options for purchasing their flagship product, the “Subjee Cooler.” This cold chain storage system, which was developed in May 2019, requires a mere 20 liters of water per day to operate and can increase the shelf life of fruits, flowers, and vegetables by 4-6 days.
Each unit of the Subjee Cooler has a storage capacity of 100 kg and is priced at INR 50,000.
Rukart receives mentorship from the Powering Livelihoods program, which is a collaboration between the Council On Energy, Environment and Water (CEEW) and Villgro Innovations Foundation.
In a statement, Rukart announced its partnership with State Bank of India (SBI), the country’s biggest bank, with the goal of alleviating distress sales among small and marginal farmers as well as retailers.
According to the statement, small and marginal farmers as well as retailers can now purchase Rukart’s Subjee Cooler more easily through SBI’s affordable EMIs.
Over the course of the last four years, Rukart has installed over 1,000 Subjee Coolers in ten different states throughout India, including Assam, Meghalaya, Nagaland, Bihar, Jharkhand, Odisha, Chhattisgarh, Maharashtra, Karnataka, and Telangana, as per the statement.
Rukart reportedly generated approximately INR 63 lakh in sales during its first year of operation by selling 126 Subjee Coolers in Maharashtra.
According to Dinesh Kumar Jha, AGM of SBI Solapur in Maharashtra, the bank has partnered with Rukart, a company committed to reducing carbon footprint through their innovative solutions.
“The partnership will help bridge the gap between the financial and agricultural sectors, resulting in greater financial inclusion and a more sustainable and prosperous rural sector,” he said.
According to Sharayu S Kulkarni, Co-Founder of Rukart, this partnership will help farmers and retailers adopt cold chain solutions based on clean energy.
“Our Subjee Cooler is user-friendly. It can be installed at farm gates/retail outlets without requiring any external power,” Kulkarni said.
Rukart has diversified its product line to encompass portable and mobile models as well.