Indian Law Partners (ILP) advised Qul Fruitwall in an investment by Belgian investor Incofin & Fiedlin

Indian Law Partners (ILP) advised Qul Fruitwall in an investment by Belgian investor Incofin & Fiedlin

Qul Fruitwall (Qul), the Kashmir-based horticultural startup, has become the first private sector enterprise to receive global institutional capital in J&K.

Incofin, a Belgium-based impact investor along with Fiedlin, an Indian growth capital platform for SMEs, have invested Rs. 60 crore in Qul.

Qul is set to modernise the region’s horticulture industry, drawing attention from global investors and paving the way for a brighter future for the farmers of Jammu and Kashmir. The transaction set as a strong precedent for more foreign institutional capital in J&K.

Founded in 2019, by Mir Khurram Shafi, as a tech-enabled integrated platform for apple growers, Qul 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.

From orchard installation, development, and maintenance to controlled atmospheric storage facilities and digital supply chain integration with the national market, Qul is redefining how farmers operate in the region.

“The transaction of Rs. 60 crore 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,” Mir said.

ILP advised Qul on corporate matters for this transaction, from out of its Srinagar and Delhi offices, led by a team of Partners Gopika Pant & Vineet Gupta and assisted by Of Counsel Meraj U Din Sofi and Associate Ibrahim Meraj.