Agrim, a B2B platform for agri-inputs, has raised $10 million in a funding round led by Kalaari Capital. Existing investors Omnivore, India Quotient, and Accion Venture Labs. Axis Bank, as part of its Bharat Banking initiative also participated in this funding round.
The company plans to use this funding for talent acquisition, embedded fintech product development, and scaling up operations.
“This investment will help us expand exponentially into new categories and geographies. Given the unit-level profitability, most funds will be used to bring rock stars onboard and launch embedded fintech services for our retailers.”Mukul Garg Co-foinder & CEO, Agrim, said.
The Gurugram-based startup, founded by IIT Kharagpur alumni Mukul Garg and Avi Jain, Agrim is building a B2B commerce marketplace app for Agri-Inputs, which brings retailers and manufacturers on one platform.
“Agrim’s goal of building a strong, tech-enabled ecosystem for small retailers of crucial agricultural supplies can transform the way agri-inputs are sourced across the country while ensuring better quality and access to products for agri-based communities,” Vamshi Krishna Reddy, partner at Kalaari Capital, said.
Their vision is to enable 1M+ Agri-input retailers to discover superior quality products at the right price and get on-time delivery and Connect 40K+ small to large size manufactures with the large and loyal retailer network and improve the supply chain.
The company currently works across 500 districts, with over 2,500 manufacturers and 170,000 retailers on the platform.