Horticulture commodity exchange Praman.ai crosses $100mn monthly GTV mark
16 February 2022, Gurugram: Praman.ai, the world’s largest horticulture Exchange platform announced early this January that it would have a monthly $100mn Gross Transaction Value (GTV) by March 2022. The company has successfully achieved $60mn monthly GTV and will be crossing $100 MN monthly GTV by 31 March 2022 making it the only Exchange in India to trade in horticulture commodities and fresh produce.
Praman.ai was launched in August 2021 and within a span of 6 months, the company has disrupted the way fresh produce is traded. The horticulture market is a massive 1.4 Trillion-Dollar in value and Praman with its AI-enabled Quality underwriting and Trade settlement guarantees through smart contracts. Praman’s technology intervention converts farmyards into digital market yards with end-to-end traceability, quality assurance and trade discovery.
Sellers and Buyers get access to the national price discovery grid, digital trade discovery, quality underwriting & guaranteed trade settlements. Praman has proved to be a trusted partner with a flourishing community of 34000+ growers, 5000+ buyers, and 700+ partnerships including major corporate houses and nodal governmental organizations like NAFED, AP Markfed, Spices Board of India, J&K Horticulture Board among others.
Speaking on this announcement, Milan Sharma, Founder and Chairman at Praman.ai said “At Praman.ai, we have always been passionate about revolutionizing the way the agricultural supply chain functioned and reducing food loss in the process. We began our journey 6 months back with an aim to bring efficiency, accuracy, quality assurance and ensure there are guaranteed settlements. We are thrilled to showcase that so far, 99% of contracts executed on our platform have resulted in Zero produce loss trade. To add to the benefits of our users, we are developing an open ecosystem for an array of services like logistics, warehousing, and credit facilitation that makes the exchange a one-stop for its users.”
Praman.ai has settled over 15400 Tonnes of cardamom trade in the domestic markets which is over 70% market share of cardamom trade in India, over 2.5 Lakh Tonnes of Onion Trade and over 1 lakh tonnes of apple trade since inception.