The startup will utilise the fresh capital for its business growth, expansion and other general corporate activities

Pune-based agritech startup AgroStar is raising Rs 53 crore in a funding round led by Aavishkaar Bharat Fund, Accel India and Bertelsmann. The fresh infusion seems to be part of the startup’s Series D round.

The startup is raising Rs 47.3 crore from Aavishkaar Bharat Fund, Accel India and Bertelsmann by allotting a total of 1,68,178 Series E Compulsory Convertible Preference Shares (CCPS) at an issue price of Rs 2816.06.

AgroStar will also raise Rs 5.2 crore by allotting 20,796 optionally convertible redeemable preference shares (OCRPS) to Innoven Capital India. The startup will utilise the fresh capital for its business growth, expansion and other general corporate activities.