Regular Update
Bengaluru-based agritech startup, BharatAgri, has successfully raised INR 35 crore ($4.3 million) in a Series A funding round, with Arkam Ventures leading the investment. The round also witnessed participation from Capria Ventures, as well as existing investors including India Quotient, 021 Capital, and Omnivore.
ATM News Network: In a significant development for the Indian agricultural technology sector, BharatAgri plans to utilize the freshly acquired funds to expand its ecommerce platform to new geographical locations and bolster its last-mile delivery capabilities. This move is expected to enhance the platform's reach and efficiency, further benefitting farmers across the country.
Established in 2017 by founders Siddharth Dialani and Sai Gole, BharatAgri has emerged as a key player in the agritech landscape. The startup operates a thriving ecommerce platform and offers AI-based agronomy services aimed at helping farmers increase their income through the systematic application of scientific farming techniques.
BharatAgri's ecommerce product portfolio encompasses a wide array of agricultural necessities, exceeding over 1 lakh products, including fertilizers, seeds, pesticides, insecticides, and farming equipment, among others. These products are made available to farmers across India, covering more than 20,000 pincodes, making it a comprehensive one-stop destination for their agricultural needs.
As a part of the Series A funding, Rahul Chandra, the Managing Director of Arkam Ventures, will be joining the board of BharatAgri, lending his expertise and insight to the startup's strategic development.
Commenting on the successful fundraise, BharatAgri's co-founder Siddharth Dialani expressed his ambitions, saying, "With this investment, BharatAgri aims to further strengthen its rural supply chain, expand the user base, and become the largest and the de facto e-commerce platform for farmers. The rural infrastructure in India is rapidly modernizing with the last mile touching more and more villages, and farmers are increasingly trusting digital knowledge sources. The credible advice from BharatAgri helps bridge the trust deficit that accompanies input purchasing and promises to open a digital channel for thousands of new products and brands that farmers seek to buy."
The Indian agritech sector is currently experiencing significant growth, with increasing investor interest and scalable innovations. A report suggests that the agritech space is poised to expand to a market size of $25.4 billion by 2028.
BharatAgri faces competition from other agritech players such as AgroStar, DeHaat, and BigHaat Agro. With Arkam Ventures now backing BharatAgri, the investment firm strengthens its position in the agritech sector, alongside other investments in Jai Kisan and Jumbotail.
This successful funding round for BharatAgri is indicative of the growing importance of agricultural technology in India and its potential to positively impact the livelihoods of farmers across the country.
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