After three years of cultivating and marketing vegetables, I identified climate risk as the primary factor making vegetable farming unpredictable and often unviable.
1. Could you please share how your journey has been?
I am originally from a small town in Andhra Pradesh/Telangana, where I grew up in a traditional joint family. This family included my parents, sister, grandparents, and my father's elder brother. From an early age, I displayed a strong curiosity and a particular fondness for sports and mathematics.
My family background was diverse and inspiring: my paternal grandfather was a freedom fighter, while my maternal grandfather was a farmer. These influences shaped my early life significantly.
In my mid-teens, after completing my 10th grade, I recognized the need to start working early to support my higher education. This led me to join my father, a lawyer by profession, as his assistant. This experience was followed by a series of odd jobs, preceding my commencement of Chartered Accountancy (CA) studies.
A pivotal moment in my life occurred during this period. I witnessed a farmer in my village eating mud out of sheer hunger, a direct consequence of his crop failure. This disturbing sight deeply affected me and ignited a desire to understand and address the underlying issues in agriculture. My grandfather encouraged me to look beyond the immediate problems and consider their root causes.
This motivation stayed with me as I embarked on an internship at PwC during my CA studies. It was there that I firmly decided to find a way to contribute to solving the challenges faced by farmers.
2. What inspired you to become an entrepreneur?
Upon completing my internship in my early 20s, I embarked on a journey across India to gain a deeper understanding of the agricultural sector and the challenges faced by farmers. Despite extensive travels and interactions, the complexity of the issues left me perplexed, unable to pinpoint the root causes amidst the prevalent rhetoric and superficial problems.
Seeking a more hands-on perspective, I engaged with agricultural university professors, attended conferences, and immersed myself in relevant literature and interviews. This exploration led me to a pivotal decision: the best way to truly understand farming was to experience it firsthand.
During this exploratory phase, I met Shri Raghavan, a senior director at IOC, at a conference. His insights further shaped my approach to understanding agriculture. I also reconnected with my childhood friend, Ayush Sharma, who enthusiastically joined me in this new venture.
With the encouragement and support of my mentor at PwC, Mr. Rama Krishna Pachigolla, Ayush and I commenced farming in Raichur, Karnataka. This marked the beginning of our company, CosmosGreen, specializing in agro-horticulture and dry land crops.
Our agricultural journey expanded with the establishment of a second farm in Telangana, in partnership with another mentor, Shri Jayaraman. This farm focused on vegetable cultivation, recognized for its short harvest cycles and potential for regular, profitable income.
After three years of cultivating and marketing vegetables, I identified climate risk as the primary factor making vegetable farming unpredictable and often unviable. This realization was not just ours; it was shared by hundreds of local farmers who faced similar challenges such as increased heat, dwindling groundwater, pest infestations, and erratic rainfall.
Recognizing the need for predictability and sustainability in farming, my co-founder and I began exploring climate-smart technologies, particularly greenhouses, as a potential solution for smallholder farmers in India. During my Acumen Fellowship, I discussed these challenges and solutions with Kaushik, a fellow participant, who was keen to collaborate. This partnership, along with the involvement of Kaushik's ex-colleague Saumya, led to the formation of 'Kheyti,' our next startup focused on innovative agricultural solutions.
After dedicating eight years to building and scaling Kheyti, I made the decision to step down from my executive role as co-founder and president, shifting my focus to a new venture, Soul Forest.
3. What problem or need in the climate and agriculture industries drove you to create your startup?
In the context of Soul Forest, our mission is driven by the urgent need to address the dramatic decline in biodiversity, a crisis exacerbated by human actions such as accelerated climate change, land-use changes, and habitat destruction. The gravity of this situation is highlighted by a startling statistic from the 2022 UN Environment Programme report: the funding for activities harmful to nature overwhelmingly surpasses conservation efforts, with a ratio of 30 to 1.
Soul Forest aims to prove that it is feasible to create a positive environmental impact while also achieving financial profitability. Our strategy is anchored in three main pillars:
- Climate: We focus on enhancing biodiversity and revitalizing barren landscapes. This contributes to environmental restoration and reinforces climate action efforts.
- Business: We are committed to offering healthy returns to our investors. By doing so, we demonstrate that investing in biodiversity restoration is not only ecologically responsible but also economically viable.
- Impact: Improving the livelihoods of local communities is central to our approach. We adopt a holistic view of sustainability, ensuring that our actions benefit both the environment and the people living in it.
Our vision for Soul Forest, particularly at our Veltoor location, is to achieve a balanced development. Here, 80% of the area is dedicated to preserving a biodiverse forest, while the remaining 20% is allocated for sustainable commercial activities. This model provides a blueprint for private sector entities, such as High worth individuals (HNIs) and businesses, to invest in transforming barren or uncultivated lands into thriving biodiverse spaces.
The financial landscape in 2021, where climate change financing garnered $87 billion from venture capitalists and approximately $8 billion from philanthropy, illustrates a significant trend: mainstream capital is outpacing grant funds by a factor of ten. To enact real change in the sector, attracting private capital is crucial. However, this requires a clear and profitable business model. At Soul Forest, we are committed to developing and implementing such a model.
4. What have been the most valuable lessons you've learned while building and growing your startup?
Reflecting on my experiences, I have learned three crucial lessons that have been fundamental in my entrepreneurial journey:
- Think Big: Adopt an ambitious mindset. Aim for solutions that are not just effective but transformative. If successful, such an approach can change the game; if not, at least we aimed high. This mindset encourages asking bold questions and fearlessly exploring opportunities without constraints.
- Look Deep: It's easy to become fixated on a single path and overlook vital considerations. Always question whether there are better approaches, more suitable locations, different customer segments, or more effective channels to reach customers. Formulating hypotheses and setting timelines for evaluation, supported by data, is key. This iterative process ensures we're on the right track or need to pivot.
- Build a Champion Team: There's a distinct difference between merely assembling a group of people and building a team of champions. A champion team not only supports but challenges you, taking ownership of the company's vision and goals. As a leader, your role is to create an environment where this team can excel. If there are misfits, it's crucial to make swift decisions; prolonging a mismatch benefits neither party.
5. What are the key challenges you foresee in scaling your startup?
Our goal is to create large-scale biodiverse forests near major cities, focusing on authenticity and sustainability. This ambitious project involves a market-based approach with specific objectives and challenges:
- Business Model for Private Investment: We recognize that attracting substantial private sector investment hinges on a clear and viable business model. To achieve this, we aim to make 20% of the ecosystem economically profitable, providing attractive returns to investors while preserving 80% for conservation. This balance is crucial to demonstrate the feasibility of our model not only in one location but across multiple sites.
- Land Acquisition: A significant challenge is acquiring large tracts of clear-titled land in strategic locations within India. Our strategy involves navigating the complexities of land acquisition to secure hundreds of acres legally and efficiently. This step is vital to realize our vision of creating these biodiverse spaces.
- Development Challenges: The development of these spaces needs to be methodical and timely, acknowledging that working with nature requires flexibility to adapt to its unpredictability. Fortunately, attracting investment is not a concern, as there is ample interest from individuals willing to invest in well-developed, sustainable projects. The key lies in the effective development and management of these biodiverse spaces to meet both conservation and economic objectives.
6. What is your favorite book and how does it influence you?
"Speed and Scale" by John Doerr stands out as one of my favorite books for its authentic, hopeful approach to addressing the climate crisis. Doerr's work meticulously presents a roadmap for tackling this global challenge. What makes this book particularly impactful is its combination of realistic assumptions and a compelling narrative. This approach not only renders the journey towards solving the climate crisis believable but also acts as a catalyst, nudging readers towards meaningful action on critical issues. The book's insightful analysis and actionable strategies make it a vital resource for anyone looking to understand and contribute to combating climate change.
BIO:
Co-founder of Kheyti and CosmosGreen currently working on Soul Forest, also a TEDx speaker.
Interviewed By- Shreya
Edited by - Pragya Lamba
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