The fund will be used to strengthen tech platform, hire senior talent, expand into new categories, geographies and scale to over 5,000 AgroStar branded retail stores
AgroStar has raised $70 million in its Series D funding round from Evolvence, global asset manager Schroders Capital, Hero Enterprise, and UK’s development finance institution CDC. The round also saw participation from existing investors Aavishkaar Capital, Accel, Bertelsmann, Chiratae Ventures, and Rabo Frontier Ventures. The Raine Group was the exclusive advisor for this transaction.
Shardul Sheth, Co-Founder, and CEO, AgroStar said, “We are now doubling down on our omnichannel strategy to provide a seamless experience to our farmers across various touchpoints both digital and physical. We plan to utilise the funding to strengthen our tech platform, hire senior talent, expand into new categories, geographies and scale to over 5,000 AgroStar branded retail stores to fuel our omnichannel strategy. We will also expand our services to provide meaningful market linkage value additions for our large and growing farmer base and we will look at acquisition opportunities in this area.”
