Bihar-based Agrifeeder eyes exports and revenue jump
Bihar-based Agrifeeder secures USFDA nod for exports and targets a 75% revenue jump to Rs 3.5 crore this fiscal.
Bihar-based Agrifeeder, a startup co-founded by actress Neetu Chandra, on Thursday said it will tap opportunities in the export markets, and aims to clock a 75% increase in revenue to Rs 3.5 crore this fiscal.
The company, which was founded in 2017, sells various food items made from agricultural produce procured from farmers in Bihar. The products, which include chana sattu, makhana, lemongrass herbal tea and maize, are sold under the brand 'Agrifeeder by Neetu Chandra' through both physical and online retail channels.
"We have secured USFDA certification, which will help the company to enter export markets," Chandra told reporters here. She invested an undisclosed amount in this startup last year and joined Priya Pandey, Raunak Kumar and Raman Kumar as co-founders.
This push for global exports comes at a time when Bihar is witnessing a massive wave of rural entrepreneurship and self-reliance, fundamentally transforming the state's economic landscape. The environment for women-led enterprises is being vigorously supported by state initiatives like the Mukhyamantri Mahila Rojgar Yojana (MMRY), which has channeled Rs 10,000 each to 1 crore women, injecting seed capital into an already functioning system of trust and enterprise.
Agrifeeder, which has a manufacturing plant in a village near Bhagalpur, is looking to raise funds from investors to expand its food business. Pandey said the company is expecting a turnover of Rs 3.5 crore this fiscal year, as against Rs 2 crore in the preceding year. She added that the turnover is expected to jump significantly from the next fiscal year onwards.
Agrifeeder said it is working with a network of over 50,000 farmers across Bihar.
Pandey said that the company started selling products from 2020 onwards. At present, maize contributes the maximum to the company's turnover. The company is looking to raise funds from investors to boost manufacturing capacities.