Agrim Wholesale Pvt Ltd, a Gurugram-based on-demand B2B platform for agricultural inputs, has raised $17.3 million (around Rs 145 Crore) in a Series B funding round led by impact investment firm Asia Impact.
Agrim’s existing investors also participated in this round, but it didn’t disclose their names.
Previously, the startup had raised $10 million in its Series A funding round led by Kalaari Capital. It had also raised $2 million in seed funding in 2020 from India Quotient, Omnivore, Accion Venture Lab and a few angel investors.
Agrim said it plans to use the fresh capital to strengthen its technology, enhance offerings, and expand operations. The startup aims to become the preferred partner of farm input retailers and manufacturers nationwide.
Founded by Mukul Garg and Avi Jain, alumni of IIT Kharagpur and IIM Calcutta, Agrim offers more 30,000 stock-keeping units from 1,200 manufacturers to 25,000 retailers. It claims that its retailer partners educate 15 million farmers.
“Our goal is to make Agrim the go-to platform for agri-input retailers. With the current funds, we will continue to invest in our technology and people to deliver transformative digital solutions for the agri-inputs supply chain in India,” Garg and Jain said in a joint statement.
Prior to Agrim, Garg was Head of Growth at logistics startup Blackbuck. Jain previously worked in investment banking with Nomura and then co-founded Taazu, a corporate travel platform.
The agritech startup claims that its on-demand tech platform solves pricing and visibility issues in existing supply chains by reducing demand and supply mismatches.
“Agrim’s impressive growth trajectory and commitment to innovation in the agri-inputs sector align perfectly with our vision to support scalable solutions that enhance efficiency and accessibility in critical industries,” said Christian Banno of Asia Impact.
The impact investment firm's other portfolio companies in India include Arya.ag, Vilcart, Banyan Nation, and Creditas.
Unitus Capital acted as the exclusive financial advisor on the latest transaction.
