1st private startup in Kashmir receives global capital

Srinagar: Qul Fruitwall (Qul), the Kashmir-based horticultural startup, becomes the first private sector enterprise to receive global institutional capital in Jammu and Kashmir. Incofin, a Belgium-based impact investor -- along with Fiedlin, an Indian growth capital platform for small and medium enterprise, have invested Rs 60 crore in Qul which serves 5,000 farmers and has an EBITDA run-rate of more than Rs 40 crore in four years.

The transaction not only opens the door for more foreign institutional capital in an untapped region of Jammu and Kashmir but puts the spotlight on the tremendous potential of its horticulture industry which supports the livelihood of half of its population.

Founded in 2019 as a tech-enabled integrated platform for growers, it covers the entire value chain from orchard installation, development and maintenance to controlled atmospheric storage facilities to digital supply chain integration with the national market.

Qul demonstrates a farmer-centric value system by collaborating with small and marginal farmers to strengthen their entrepreneurial capabilities. Through precision farming techniques and use of artificial intelligence/machine learning tools, it empowers farmers with orchard-specific predictive insights, market trends and pricing details. Its commitment to innovation, both biological and non-biological, is reinforced by strategic partnerships with global research institutes, nurseries and groundbreaking enterprises.

Qul leverages process and technology as transformative forces to enhance efficiency and sustainability in line with the global Sustainable Development Goals.