WeGro Technologies Ltd: Biniyog Briddhi’s Latest IRMF Candidate

WeGro Technologies Limited signed the Impact Ready Matching Fund (IRMF) agreement with Biniyog Briddhi on 12th October 2022 at the LightCastle Partners Headquarters.

WeGro Technologies Ltd is a tech-based agri startup working towards revolutionizing the archaic agriculture industry by integrating the latest technology in all aspects of this agri supply chain. The enterprise is bringing major reforms in the agriculture industry of Bangladesh while ensuring that all the stakeholders – farmers, agriculture facilitators, partner merchants, and definitely, consumers – are benefited. Through Biniyog Briddhi’s Impact Ready Matching Fund (IRMF) structure, WeGro will receive financial incentives to develop a set of individualized impact management-related milestones and a timeline of implementation; to implement and report their impact.

IRMF is a one-to-one matching fund, targeting early stage impact startups, or startups with impact potential. The average ticket size is USD 100k and the goal is to incentivize enterprises to establish and implement impact measurement and management practices.

The signing ceremony took place on 12th October, 2022 in Dhaka, where Bijon Islam, Co-founder and CEO at LightCastle Partners, Md. Alvi Rahman, COO & Co-Founder at WeGro Technologies Ltd along with Md Mahmudur Rahman, CEO & Co-Founder were present.

B-Briddhi is a multi-year partnership between the Embassy of Switzerland in Bangladesh, Roots of Impact, LightCastle Partners, and other stakeholders including investors, private sector organizations, incubators, and support organizations for impact enterprises. It supports impact enterprises to have better access to innovative financing options and be better equipped to attract investors.