Agitech startup Bull Agritech secured $100K (INR 8 million) in a pre-seed fundraising round led by PedalStart. One-to-N, the present cohort of PedalStart, includes Bull Agritech and is supported by prominent venture capital funds within the ecosystem.
According to a news release from Bull Agritech, the company intends to use the funds for team building, operational acceleration, and business growth.
Hit Desai, Co-founder at Bull Agritech said, “We see a huge opportunity in the non perishable agri-trade market as the farmers have been left with a 100-year-old monopoly that is APMC which lacks market connectivity, transparency, and efficiency. It is a known fact that the intermediaries use this monopoly to manipulate the market which results in farmers’ loss. There has been no brand in the output linkage space which is widely trusted by farmers at scale when it comes to selling their crop. We come from North Gujarat, the land of white revolution and cooperative movement which created the brand AMUL in the rural as well as urban market, and with enablers like Pedalstart by our side. We are hopeful about being a pillar to the green market revolution which India awaits”.
Bull Agritech facilitates direct connections between farmers and agricultural commodity processors, enabling them to sell non-perishable crops and achieve optimal price realisation. At the moment, they have four collecting centres up and more than fifteen thousand farmers connected to us online.
Manas Pal and Aditya Darolia, Co-founders at PedalStart commented, “One-to-N has been a cohort that has set a benchmark for us as well. Out of 9 startups which have been selected had raised their first round and here we came up to upscale their journey to level two. Bull Agritech has been the first success, and counting on more coming up.
By utilising technology and our network of farmers and commodity processors, Bull Agritech hopes to establish the largest commodity supply network in India. Bull Agritech wants to turn the farmer into a trader by providing him with financing, warehouses, and a marketplace on which to sell his produce. Bull Agritech also intends to use output linkage distribution to build brands in the agri-input sector.
About Bull Agritech
Bull Agritech is a commodities supply chain company that handles all the middleman work, such as logistics, quality control, and payment protection, in order to link farmers and industries directly for trade.