The mcommerce platform for agriculture has raised $4 Mn in a round led by IDG ventures. Existing investor Aavishkaar also participated in the round. The company boasts of Snapdeal’s Kunal Bahl and Rohit Bansal as its early mentors and backers.
Agrostar attempts to solve problem in the Agricultural equipments and machinery supply chain by enabling farmers to procure an entire range of agricultural product by just giving a missed call to their number.
Agrostar assures good quality products, fair pricing, product availability, laser focus on customer service and door to door delivery services. The company has joined hands with several national and multinational brands whose products will be put up for sale. Agrostar intends to be the one stop shop for farmers agro needs, be it the seeds, nutrients, crop protection or the hardware products.
The company would be channelising the funds to expand its operations across Maharashtra and Gujarat and intends to add a handful of states in its fold by the next year. Further they will also strengthen the tech and leadership teams.
“It is just the beginning of what an agricultural mcommerce platform can achieve, in a mobile-first nation. Their success in Gujarat is a testimony and validity of the idea, and we look forward to AgroStar replicating this change nationally. Having funded many vertical, ecommerce leaders in early stage, we believe AgroStar has the potential to be the disruptor and the leader in the Agricultural mcommerce vertical with a $200 Bn market opportunity.” said T C Meenakshisundaram, Founder & Managing Director, IDG Ventures India.
Agriculture is the bread and butter for a major chunk of rural households and its alarmingly declining share in the country’s GDP is a matter of great concern. The agricultural practices in India need a prompt evolution and platforms like Agrostar might just be the beginning. The supply chain for seeds, fertilizers and other agricultural equipments has been marred by the fact that it is still a largely unorganised industry and consistency in quality is still far behind good.
