Agrim is an online B2B platform for agri-inputs that secured 17.3 million USD in its ongoing series B funding round from existing investors. The funding round saw the participation of various investors including Kalaari, Omnivore, India Quotient, and Accion Venture Lab. The company plans to use these fresh proceeds to scale its operations, enhance its platform, expand its network, improve its marketing efforts, and develop market presence.
This agritech startup offers an e-commerce platform that operates in a B2B model. The company also provides good delivery to the shops. The Gurgaon startup has secured $29.3 million since its inception, including the $10 million raised during the Series A funding round from Kalaari in 2022. This online agriproduct platform claims to offer high-quality agri products with different financial options and an affordable price range. The company will focus on strengthening its market presence in the existing areas. The company will use some of this investment to expand its operations and become the preferred partner for agri-input retailers and manufacturers in India. The startup provides retail services for agriculture products and allows retailers to purchase agri-inputs at reasonable prices.
The application connects buyers directly with agri sellers and offers fresh agri-produce. The investment will help the startup achieve its goal of market expansion and strengthen its online platform through its integrated services. This startup provides several agriculture-related products and grocery deliveries. The platform uses advanced technologies to provide personalized financing solutions to customers. The company claims to provide over 20,000 SKUs from 1,200 manufacturers to 25,000 retailers serving education to 15 million farmers. This Gurugram startup faces competition from other agriproduct platforms such as WayCool, NinjaCart, and Deehat.
The startup data intelligence platform, the kredible mentioned that the company reported around a 2.5 times increase in its operating revenue to Rs 157.36 crore in FY23. However, the losses also increased by 64 percent to Rs 28 crore in the same duration. The development came just after the Indian Agritech sector saw an increased investor interest. The online platform connects retailers directly to manufacturers while providing marketing, distribution, logistics, and credit solutions. Agrim’s $17.5 million round marks the highest funding rounds for agritech startups this year. The startup operates in different agri-input areas including seeds, crop protection, farm implements, animal nutrition, and fertilizers.
Conclusion:
Agrim is an agritech startup that secured $17.5 million in its series B funding round led by Kalaari, India Quotient, Accion Venture Lab, and Omnivore. The company offers an online platform that connects farmers directly to customers. The startup intends to use this fresh capital to strengthen its operations, enhance its platform, and expand its service to become preferred agri-input retailers and manufacturers in India. The company claims to have served over 25,000 retailers through 1,2000 manufacturers from its 20,000 SKUs. The company reported an increase in operating revenue for FY23. The startup has raised around 29.3 million USD across multiple funding rounds since its inception. The funding round came just when the agritech saw increased interest from investors globally.
