Agri-inputs platform AGRIM raises $17.3M in Series B funding
The Gurugram-based company will use the newly-raised funds to expand its operations and strengthen its technology.
On-demand B2B agri-inputs platform AGRIM has raised $17.3 million (Rs 145 crore) in a Series B funding round led by Asia Impact.
The company said it will use the funds to expand its operations across the country and strengthen its technology.
The round also saw participation from existing investors and Unitus Capital acted as the exclusive financial advisor for the transaction.
“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.
Founded in 2020, the company previously raised $10 million in a Series A round led by Kalaari Capital and other existing investors.
AGRIM currently offers more than 30,000 SKUs from 1,200 manufacturers to 25,000 retailers which serve and educate 15 million farmers, according to the company.
“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 company, which provides retail services for agriculture products and offers services for agri-input retailers had reported revenue of Rs 159 crore for FY22-23 compared to Rs 65.1 crore in FY21-22, according to Tracxn.
(The article has been updated)
Edited by Megha Reddy