Total amount raised
$15.7 Millions
Latest funding date
Location
BharatAgri has successfully raised funds through multiple rounds, with the latest being a Series A round on October 19, 2023. The company is backed by notable investors including Omnivore and 021 Capital, among others.
Keep reading to explore the intricacies of BharatAgri's fundraising journey and the investors backing this innovative platform.
What Is BharatAgri?
BharatAgri, founded in 2017 by Sai Gole and Siddharth Dialani, is headquartered in Pune, Maharashtra, India. The company operates in the agriculture, agtech, farming, information services, and productivity tools industries.
With an employee count ranging from 11 to 50, BharatAgri provides actionable insights to help farmers increase their yield and income. The platform focuses on the systematic implementation of scientific techniques, delivering critical information at appropriate times and regular monitoring.
BharatAgri also runs an e-commerce platform, BharatAgri Krushi Dukan, which offers a wide range of agricultural products including fertilizers, seeds, pesticides, and farming equipment. The company aims to support farmers by providing high-quality products and educational content on smart farming techniques.
How Much Funding Has BharatAgri Raised?
- Angel Round
- Amount Raised: $89.6K
- Date: January 27, 2018
- Lead Investors: Uber
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial platform.
- Seed Round
- Amount Raised: $481.1K
- Date: March 6, 2019
- Lead Investors: Hari Balasubramanian, India Quotient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach more farmers.
- Seed Round
- Amount Raised: $718.9K
- Date: June 21, 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance its features.
- Seed Round
- Amount Raised: $2M
- Date: October 28, 2020
- Lead Investors: 021 Capital, Google for Startups
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and improve its technological infrastructure.
- Series A
- Amount Raised: $6.5M
- Date: September 2, 2021
- Lead Investors: Omnivore
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance its service offerings.
- Series A
- Amount Raised: ₹140M
- Date: February 7, 2023
- Lead Investors: Capria Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the e-commerce platform into new geographies and strengthen last-mile delivery.
- Series A
- Amount Raised: ₹350M
- Date: October 19, 2023
- Lead Investors: Arkam Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's geographical reach and strengthen the rural supply chain.
Total Amount Raised: $14.1M
Current Valuation: Not publicly disclosed
Key Investors
- Omnivore
- Details: Omnivore is a venture capital firm that invests in startups from the agriculture and food sectors. They aim to transform rural livelihoods and make farming more profitable.
- Investment Focus Areas: Agriculture, Food
- Notable Investments: Not specified
- 021 Capital
- Details: 021 Capital is a venture capital firm focusing on technology, biotechnology, and agriculture sectors. They support early-stage startups with high growth potential.
- Investment Focus Areas: Technology, Biotechnology, Agriculture
- Notable Investments: Not specified
- Arkam Ventures
- Details: Arkam Ventures is an early-stage venture fund dedicated to Middle-India startups. Rahul Chandra, MD of Arkam Ventures, will join the board of BharatAgri.
- Investment Focus Areas: Agritech, Rural Fintech
- Notable Investments: Jai Kisan, Jumbotail
- Capria Ventures
- Details: Capria Ventures is a global investment firm focusing on early-stage startups in emerging markets. They aim to create significant social impact through their investments.
- Investment Focus Areas: Early-stage startups, Emerging markets
- Notable Investments: Not specified
- India Quotient
- Details: India Quotient is an early-stage venture capital firm focusing on technology-driven startups in India. They support innovative ideas that can transform industries.
- Investment Focus Areas: Technology, Consumer startups
- Notable Investments: Not specified
What's Next for BharatAgri?
With the recent infusion of funds, BharatAgri is poised to expand its e-commerce platform into new geographies, aiming to serve over 50 million farmers in the next three years. The company plans to strengthen its last-mile delivery and open multiple warehouses, which will significantly enhance its distribution network and serviceability.
Future fundraising opportunities are likely as BharatAgri continues to grow. The company may seek additional capital to support its ambitious expansion plans and technological advancements. The integration of advisory services with e-commerce has already shown promising results, increasing farmers' production by 30% and earnings by 100%.
However, challenges such as stock-outs, misinformation, and non-scientific usage behavior among farmers could pose hurdles. Ensuring efficient last-mile delivery in rural areas and maintaining the accuracy of advisory services will be crucial for sustained growth. Despite these challenges, BharatAgri's innovative approach and strong investor backing position it well for future success.
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