Noida-based Tractor Junction, a rural vehicle marketplace, has raised $5.7 million in its seed funding round from Info Edge Ventures and Omnivore.
The round also saw participation from existing investors AgFunder GROW Impact Fund and RockstartAgriFoodFund and angel investors including Vikram Chopra & Mehul Agrawal (co-founders of Cars24), Vellayan Subbiah & Arun Venkatachalam (Murugappa Group), and Sanjiv Rangrass.
The startup plans to use the funds for talent acquisition, financial services development and launch physical stores for used tractors across North India.
Noida-based Tractor Junction was Founded in 2019 by Animesh Agarwal, Rajat Gupta and Shivani Gupta, It is a digital marketplace to buy, sell, finance and insure new and used tractors as well as agricultural equipment and rural commercial vehicles.
The startup claims that it is revolutionizing the rural vehicle sector by providing essential information and vetted reviews on farm machinery, enabling users to compare shortlisted options, and bringing transparency to pricing.
“The rural vehicle ecosystem is at the cusp of a digital revolution and our team at Tractor Junction are excited to tackle the opportunity that lies ahead. We are humbled to have the confidence of marquee investors like Info Edge and Omnivore who bring vast experience of building scalable businesses”, said, Rajat Gupta, Co-founder of Tractor Junction.
Tractor Junction also claims that they have seen 7x growth in annual revenue and remain operationally profitable over the past two years.
Last year in December, the startup acquired rival marketplace TractorGuru, further strengthening its leadership in this space.
“The used tractor and farm equipment market is highly unorganised with a lack of established sales channels. As a result, farmers struggle with access to quality information and inventory for a relatively high-value purchase. Tractor Junction is bringing convenience, transparency, and affordability to the farm equipment buying process”, said, Kitty Agarwal, Partner at Info Edge Ventures.
About Tractor Junction
Tractor Junction is India’s leading digital marketplace for Farmers. They help farmers to Buy, Sell, Finance, Insure and Service New/Used tractor and farm equipment. Tractor Junction has revolutionized the Indian tractor industry by bringing transparency on pricing, information and comparison of tractors, farm equipment and related financial products.
Tractor Junction is India’s No.1 Website for Tractors and Farm Implements. Tractor Junction lists over 300+ new tractors from across the brands.
Tractor Junction connects to thousands of tractor dealers across India. All the popular brands presented here include Mahindra, Sonalika, Swaraj, New Holland, Eicher, John Deere, and many more. Tractor Junction was founded in 2017 with the idea to provide a transparent platform to Indian farmers. The brain behind this idea is Rajat Gupta (Founder) and his better half Shivani Gupta (Co-Founder), who wants to make farmers self-dependent. Tractor Junction’s head office is located in Alwar, Rajasthan.