Greenikk, an agritech startup founded in 2020 by Farooq Naushad and Praveen Jacob, aimed to revolutionize banana cultivation through a digital ecosystem. Despite providing farmers with financing, seeds, advisory, and market connectivity, Greenikk failed to achieve Product Market Fit. The company faced significant financial losses, primarily due to loan defaults, and has decided to shut down operations. Investors, including 100Unicorns, IIM A Ventures, and others, will receive partial returns on their investments following the business closure.
PM ModiDec 11