We are proud to share that Agrim, our portfolio company, has successfully raised $17.3 Million in a Series B funding round. This round was led by Asia Impact Fund, with our continued support along with India Quotient, Omnivore, and Accion Venture Labs.
Congratulations to Mukul, Avi, and the entire Agrim team on this remarkable milestone. Since our initial investment in the Series A round in 2022, Agrim’s team has consistently demonstrated extraordinary perseverance, resilience, and dedication. Their unwavering commitment has established Agrim as the leading platform for Agri-inputs in India.
Progress Since Our Series A Investment in 2022:
Agrim has achieved remarkable growth since our Series A investment in 2022. With an impressive portfolio of over 30,000 SKUs, Agrim has established a strong product-market fit across diverse categories, including seeds, crop protection, agro-tools, and fertilizers. This extensive product range has enabled Agrim to provide high-quality Agri-inputs to more than 15 million farmers throughout India.
Founded in 2020 by Mukul Garg and Avi Jain, Agrim’s team brings together a unique blend of complementary skills and diverse expertise. Their sharp vision and profound understanding of the Agri-inputs market have propelled Agrim to become one of India’s fastest-growing platforms in this sector.
Agrim’s retailer-focused app, supports over 25,000 retailers across more than 2,000 cities in 27 states, helping them access affordable Agri-inputs. Over the past three years, Agrim has introduced a credit line for select retailers, enhanced app engagement, formed partnerships with 1,200 manufacturers, and expanded its platform with over 6,000 additional products.
Next Steps Post-Funding: The Roadmap Ahead
The Agri-inputs sector, valued at $50 billion, is notable for its diversity, fragmentation, and susceptibility to seasonal fluctuations. Traditional supply chains in this sector often face challenges such as excessive costs and lack of transparency, leading to substantial inventory losses and frequent unmet demands. Agrim’s technology-driven platform, bolstered by a distinctive go-to-market (GTM) strategy, is strategically positioned to address these critical gaps in the Agri-inputs supply chain.
On the fundraise, Mukul Garg & Avi Jain (Founders) commented –
“We are elated about our continued partnership with Kalaari Capital, India Quotient, Omnivore, and Accion and welcome the incoming investor- Asia Impact Fund. Our goal is to make Agrim the go-to platform for Agri-input retailers. With the current fundraise, we will continue to invest in our technology and people to deliver transformative digital solutions for the Agri-inputs supply chain in India.”
Vamshi Krishna Reddy, Partner at Kalaari Capital said –
“Availability of Agri-inputs both from a quality and timing perspective can impact the farm economics and increase the output for the farm. Agrim since its inception has shown great traction to bridge the gap with technology to solve this problem. We are excited to be a part of this journey and look forward to creating an impact with Mukul and Avi in their journey.”