E-commerce for farmers: Agri advisory and e-commerce startup for farmers BharatAgri has raised Rs 35 crore in Series A funding led by the early-stage venture fund Arkam Ventures with participation from Capria Ventures and existing investors India Quotient, 021 Capital, and Omnivore. The company said it will deploy funds to expand its operations into new geographies and strengthen its last-mile delivery.
Founded by IIT Madras Alumni, Siddharth Dialani and Sai Gole, BharatAgri uses smart farming advisory for farmers to identify and order the right input products specific to their farming needs. Farmers can use the platform for custom advisory for increasing farm yield, and lower input costs and labour effort.
“BharatAgri delivers agri-inputs to farmers pan-India across over 20,000 pin codes including states and UTs like J&K, Andaman Nicobar Islands and Daman & Diu. Currently, we are processing more than 40,000 orders in a month on our e-commerce platform and have more than 10 lakh farmers using our website and our app on a monthly basis,” Siddharth Dialani, Cofounder, BharatAgri told FE Aspire.
Dialani added that the company is growing at 20 per cent month-on-month across these metrics. Farmers can choose from over 10,000 SKUs, and there are more than 100 sellers and leading brands listed on the marketplace including the likes of Bayer, Deepak Fertilizers, Anand Agro, BioPrime etc.
“We are currently clocking an annual gross merchandise value of Rs 50 crores and aiming to hit Rs 70 crore by March 2024,” he said.
Also read: Agritech startup Ergos raises $10 million in Series B round led by Norway’s Abler Nordic
According to BharatAgri, it has helped increase farmers’ production by 30 per cent, enhance their earnings by 100 per cent and reduce costs by 10 per cent. It said the advisory engine algorithms are developed through extensive weather experiments in collaboration with the Indian Council of Agricultural Research, Hyderabad.
As per an Ernst & Young report in September 2020, the market for agritech startups in India is estimated to be $24 billion by 2025.