The company plans to use the fund for talent acquisition, embedded fintech product development, and scaling up operations
AGRIM, a B2B platform for agri-inputs, has raised $10 million in Series A funding. The round was led by Kalaari Capital, with participation from existing investors Omnivore, India Quotient, and Accion Venture Labs. Axis Bank also joined the round as part of their Bharat Banking initiative.
AGRIM is building a digital platform for India’s $50 billion agri-inputs industry by connecting retailers directly with manufacturers and providing all parties with solutions for distribution, credit, logistics, and marketing. AGRIM works across agri-input categories, including seeds, fertiliser, crop protection, animal nutrition, and farm implements.
AGRIM currently works across 500 districts, with over 2,500 manufacturers and 170,000 retailers on the platform. AGRIM plans to use this funding for talent acquisition, embedded fintech product development, and scaling up operations. The startup expects to clock annualised GMV (gross merchandising value) of $100 million in 2022.
AGRIM plans to increase stock-keeping units by 10x, to reach 250,000 SKUs across agri-input categories, providing retailers with a vast selection on the platform. AGRIM will soon be launching financial services to ease their burden while ensuring optimum stocking.
