JM Financial Private Equity, the private equity subsidiary of JM Financial Ltd., has provided INR 40 Cr (approximately $4.8 Mn) in funding to Jaipur-based agritech startup Balwaan Krishi as part of its Series A funding operation.
The company will utilize the recent profits to establish its distribution network throughout the nation and develop new products. Additionally, it intends to broaden its presence in the southern regions.
Read also – AVIOM Housing Finance Secures $5 Mn Debt Funding from InsuResilience Investment
One of the objectives of the startup is to assist farmers in reducing their operational expenses by utilizing new agricultural machinery.
Balwaan asserts that it has sold more than 60,000 units of apparatus. The startup fulfills over 1,000 orders daily and the products are available on e-commerce platforms such as Amazon and Flipkart.
Balwaan Krishi provides technologies that enhance the quality of life for producers and increase production. The startup asserts that it transforms rural communities by offering affordable and efficient machinery to oversee small and marginal farms.
This coincides with the emergence of startups such as Ninjacart, Dehaat, and Cropin as prominent participants in the broader agritech space, which is currently receiving investor interest.
Rohit Bajaj, founder, Balwaan Krishi, said: “At Balwaan, enhancing farmers’ productivity and cutting their operational costs is at the core of our mission. The capital infusion and partnership with JM Financial Private Equity will accelerate our current and long term expansion plans”
About Balwaan Krishi
Founded in 2016 by Rohit Bajaj and Shubham Bajaj, ‘Balwaan Agri’ fastest-growing smart agriculture machinery company, headquartered in Jaipur, India.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
