5 AgriTech platforms helping Indian farmers to access finance | Agriculture Financing

In order to fulfill the requirements of Indian farmers, agriculture financing and maximise their productivity, a number of agritech startups have emerged in the country that use cutting-edge techniques and new technologies like data analytics, machine learning, and satellite imaging, among others.

AgriTech start-ups have been more prevalent in India over the past few years, making technology more approachable while also assisting farmers in getting access to financing. However, the country still confronts many difficulties because of a lack of technological infrastructure and financial services.

Numerous agripreneurs are attempting to close this gap (majorly shortage of finance among other necessities), improve the quality of life for farmers, and boost the Indian agricultural ecosystem by providing them with a variety of solutions.

As a result, agritech is undoubtedly one of India’s most essential sector. Below is a list of the top 5 agritech startups that support Indian farmers by financing their agricultural endeavours.

Top 5 AgriTech platforms helping in the financing | Agriculture Financing

Apna Godam

Apna Godam is a post-harvest solution company working mainly in the non-perishable category. It is the first notified online Mandi in Rajasthan as well as India. Apart from facilitating spot trading of commodities, it also provides Warehousing, Commodity Finance and Logistic services as value-added services. The farmer can sell the commodity to any buyer in the country without going anywhere. The logistics are managed by Apna Godam with the help of a network of Logistic partners.

Read also – How Apna Godam brings Mandi at the door step of the farmer

In addition to ths, Apna Godam facilitates an online platform that facilitate farmers, traders and buyers with online trading in commodities.Thus helping in better price discovery and provide facilities for smooth marketing of their produce.

Apna Godam mobile application is owned by two companies jointly. First is the Singodwala Fintech Pvt Ltd (the NBFC company) and the second is Singodwala Warehousing and Logistics Pvt Ltd which owns rest of the business. 

Jai Kisan

Arjun Ahluwalia and Adriel Maniego founded the rural fintech platform Jai Kisan in Mumbai in 2017 with the goal of enabling the development of rural Indians, especially farmers. Jai Kisan, as an organisation, holds customer empathy at the heart of our operations stemming from a first-hand understanding of rural value chains.

The startup wants to provide financial inclusion to rural populations and small companies. It provides digital financial services, starting with credit for revenue generation, offline and internet trade, and rural trade.

Read also – [Funding alert] Rural Fintech Jai Kisan raises $18 mn in Series B round

In comparison to other finance options available today, Jai Kisan offers flexible and quick financing for agricultural equipment, dairy equipment, and other rural yield generational assets.

Samunnati

Samunnati, an open agri network based in Chennai and founded by Anilkumar SG in 2014, aims to unleash the $1 trillion-plus potential of Indian agriculture with smallholder farmers at its core.

Samunnati promotes collective development and prosperity for the agricultural ecology. Through several technology-enabled interventions and cooperative alliances, Samunnati’s Agri Commerce and Agri Finance solutions, which serve the full value chain, help associated Farmer Collectives and the greater ecosystem to be more effective and productive.

Read also – Top 20 Agritech Startups in India | Indian Agritech Startups 2022

The firm wants to set itself apart from the current farmer welfare and agri-finance laws in India. It also intends to address the operating capital requirements of agri-SMEs and smallholder farmers.

FarMart

Alekh Sanghera and Mehtab Singh Hans founded the Gurugram-based company FarMart in 2015. By digitising and rewarding the rural agri-retailer, FarMart has built one-stop-hubs for farmers to acquire input and sell produce nearby their fields.

The startup offers a micro-SaaS platform that helps retailers run their existing businesses more effectively while also digitising their operations and increasing sales to farmers.

Read also – [Funding alert] Foodtech SaaS startup FarMart raises $32 mn in Series B round

Their goal is to make food distribution equitable, transparent, and financially rewarding for the agribusiness community across India.

FarMart is proud to have partnered with and backed by renowned VCs like General Catalyst, Matrix Partners, Omidyaar Network and Avaana Capital that invest in leading tech companies that are sustainable and purposeful.

AgriGator

AgriGator is a trustworthy and effective online marketplace with a Bhopal base that was established in 2019 by Udit Sangwan and Charu Chaturvedi with the goal of streamlining the unorganised grain trading value chain.

The opportunity to build their network of commerce and create new opportunities for growth is given to the verified buyers and sellers.

Agrigator wants to be a B2B digital platform for the supply chain of the agricultural industry. Their emphasis is on the secondary segment of the supply chain for grains, which includes FPOs, traders, local mills, businesses, exporters, and distributors.

Read also – Apna Godam – Super App for Farmers | Online Mandi

Delhi, Maharashtra, Uttar Pradesh, Gujarat, Haryana, and Chhattisgarh are the current states where AgriGator is in operation.

This was our selection of the Top 5 Agritech Startups in India which is provide agriculture financing. We hope this is useful to you as you develop your own agritech company.

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