Agrim, a B2B platform for agri-inputs, has raised $17.3 million in a Series B funding round led by investment advisor Asia Impact SA, according to media reports.
The funding round also saw participation from existing investors Kalaari Capital, Omnivore, India Quotient and Accion Venture Lab.
The firm is expected to use the funds to strengthen its tech stack, enhance offerings and scale up its operations.
Founded in April 2020 by serial entrepreneurs and IIT Kharagpur alumni Mukul Garg and Avi Jain, Agrim is building a digital platform for India’s $50 billion agri-inputs industry by connecting retailers directly with manufacturers and providing all parties with solutions for distribution, credit, logistics, and marketing. Agrim works across agri-input categories, including seeds, fertilisers, crop protection, animal nutrition, and farm implements.
“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 statement.
Agrim joins a host of agritech startups in India that have piqued the interest of investors this year, particularly since the start of the second quarter, aided by realistic valuations and their strong unit economics, among other factors.
Last month, Arya.ag, a grain commerce platform that connects agri producers and buyers, secured $29 million in funding from its existing investors such as Asia Impact SA and Quona Capital. In June, Copenhagen-based life sciences investor Novo Holdings invested an undisclosed amount in Indian agritech player AgNext Technologies Private Limited to support the latter’s growth and international expansion.
In other instances of funding in the agritech space in India, Superplum raised $15 million in a Series A funding round led by Erik Ragatz, former partner and current senior advisor of private equity firm Hellman & Friedman. Meanwhile, BharatRohan secured $2.3 million in a pre-IPO round from investors including Villgro Innovation Foundation, Caspian, RevX, and Venture Garage. Agritech robotics firm Niqo Robotics, on the other hand, raised $9 million in a new round led by Brida Innovation Ventures.
