NABVENTURES Fund I, the investment arm of agriculture and rural development institution Nabard has made its maiden investment in Mumbai-based rural fintech startup Jai Kisan as part of a ₹30 crore funding round.

The pre-Series A round of funding was led by Arkam Ventures (formerly Unitary Helion) along with participation from existing investors Blume Ventures, Prophetic Ventures and Better Capital. Other investors including The Chatterjee Group (TCG), Rajiv Sahney of New Vernon Capital LLC and Sanjay Mariwala of OmniActive Health Technologies also invested as a part of this round.

NABVENTURES was launched in May last year with a proposed corpus of over ₹500 crore.

Jai Kisan plans to invest the capital to hire across roles in operations and process management, as well as invest in its technology platform, as it looks to provide newer financial services offerings.