SUMMARY
BharatAgri raised INR 14 Cr ($1.7 Mn) in its extended Series A round led by Capria Ventures
The funding round also saw participation from Omnivore, India Quotient, 021 Capital, Ratnagiri Impex, and Sanjiv Rangrass, former CEO of ITC’s agri business
Founded in 2017, BharatAgri offers farmers AI-based agronomy services to farmers to help increase their incomes through scientific farming techniques
Agritech startup BharatAgri has raised INR 14 Cr ($1.7 Mn) in its extended Series A round led by Capria Ventures. The funding round also saw participation from Omnivore, India Quotient, 021 Capital, Ratnagiri Impex, and Sanjiv Rangrass, former CEO of ITC’s agri business.
BharatAgri plans to use the proceeds of the funding round to scale its personalised advisory-driven ecommerce offerings.
Founded in 2017 by IIT Madras alumni Siddharth Dialani and Sai Gole, BharatAgri offers AI-based agronomy services to farmers to help increase their incomes through systematic implementation of scientific farming techniques.
The startup also operates ecommerce platform Krushidukan which offers agricultural products including fertilisers, seeds, pesticides, insecticides, farming equipment, among others, to farmers. BharatAgri claims that Krushidukan has grown at a cumulative monthly rate of 100% since its launch.
BharatAgri CEO and cofounder Dialani said that Indian farmers continue to rely on traditional farming methods despite the advancements in technology, and this impedes the quality and production of their crops.
“At BharatAgri, we are committed to revolutionising agricultural practices by fostering trust and democratising access to affordable technology. Through our digital advisory platform and personalised scientific farming techniques, we have been able to deliver higher farm output, and improve farmers’ income significantly,” Dialani said.
The development comes at a time when agritech startups have grabbed investors’ attention. Over the last few months, a number of agritech startups such as Grow Indigo, CropIn, and DeHaat have raised funding.
According to a Bain & Company report, agritech investments in India could soar to $35 Bn by 2025 from $329 Mn in 2020.
The agritech sector has been increasingly gaining attention from the government as well. Finance Minister Nirmala Sitharaman, in her speech for Union Budget 2023-24, announced an agriculture-focused accelerator fund to encourage agritech startups in the rural parts of the country.
“The fund will aim at bringing innovative and affordable solutions for challenges faced by farmers. It will also bring in modern technology to transform agricultural practices, increase productivity and profitability,” the finance minister said.
