Agrim Wholesale, a Gurugram-based on-demand B2B platform specialising in agriculture inputs, has raised ₹17.3 million in a Series B funding round led by Asia Impact.
This round also saw participation from existing investors, including Kalaari, India Quotient, Omnivore, and Accion Venture Lab while Unitus Capital acted as the financial advisor for the transaction.
The latest round of funding will be instrumental in bolstering AGRIM’s technological infrastructure. The startup plans to invest in enhancing its tech stack, which includes upgrading its digital platform to support more sophisticated features and capabilities. These improvements aim to create a more seamless and efficient user experience for both farmers and retailers, enabling them to conduct transactions with greater ease and accuracy.
In addition to technology enhancements, AGRIM is set to scale up its operations. This includes expanding its reach to new regions and increasing its inventory of agricultural inputs. By broadening its geographic footprint and product offerings, AGRIM aims to serve a larger customer base and address the diverse needs of farmers across India. This strategic expansion is expected to drive significant growth and establish AGRIM as a leading force in the agri-tech space.
The funding will also support AGRIM’s efforts to innovate and develop new solutions that address the evolving challenges faced by the agricultural sector. With a focus on improving supply chain efficiency and reducing costs for farmers, AGRIM is poised to play a crucial role in transforming the agriculture industry. The startup’s commitment to leveraging technology to solve real-world problems reflects its mission to empower farmers and enhance the agricultural ecosystem.
“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,” said Mukul Garg and Avi Jain, Founders of AGRIM.
“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. This investment marks a pivotal moment in AGRIM’s journey towards transforming the agricultural supply chain in India, and we are thrilled to be part of their story as they expand their reach and deepen their market impact,” said Christian Banno of Asia Impact.
The firm previously raised $10 million in a Series A round led by Kalaari Capital and other existing investors. It also raised $2 million in seed funding in 2020 from India Quotient, Omnivore, Accion Venture Lab and a few angel investors.
Founded in April 2020 by Mukul Garg and Avi Jain, AGRIM connects agri-input retailers directly with manufacturers, offering a comprehensive suite of services that include distribution, credit, logistics, and marketing.
Before 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 firm currently offers more than 30,000 SKUs from 1,200 manufacturers to 25,000 retailers which serve and educate 15 million farmers.
The company has reported revenue of Rs 159 crore for FY22-23 compared to Rs 65.1 crore in FY21-22.
