Agricultural Technology Startup, Agrostar raised $10 Million of Series B funding from Accel Partners. The existing investors, IDG ventures and Aavishkar ventures, have also participated in the round. Earlier in August 2015, the startup raiseds $4 Million of Series A funding from IDG Ventures.
The fresh fund will be used in the upgrading the field. They will build In-house technology, expanding their products across the country, marketing, analytics and data science.
The Pune based Startup is operated and owned by ULink AgriTech Pvt. Ltd. It was founded in the year 2002 and became online in the year 2013. The co-founders of Agrostar are Shardul Seth and Sitanshu Seth. Agrostar is India’s First & Largest ‘Direct to Farmer’ mobile commerce platform for Agriculture. Farmers can buy seeds, nutrients, crop protection, as well as hardware products. The startup has partnered with multiple leading national and multinational brands whose agro products can be bought through AgroStar.
Shardul Seth, Co-founder of Agrostar said “We want to grow geographically. Currently, we have the highest concentration of users in Gujarat, followed by Maharashtra and Rajasthan. Out of over one million users, approximately 1 lakh farmers have downloaded the app, with our monthly active users ranging from 30,000 and 40,000 farmers. Upcoming target markets would include Madhya Pradesh, Andhra Pradesh, Karnataka and Uttar Pradesh.”
The service of Agrostar will be accessible through its Android Mobile Application. As most of the farmers are uneducated, the startup has introduced ‘Missed Call Service’, in which the user gives a missed call and the executive will call back to the number and guide the farmer through his requirements.
The co-founder also commented that “Farmers in India face significant challenges at every point from buying agri-inputs, to improving their yields and finally getting a good price for their produce. We are working hard on solving some of these challenges through technology to make farming more sustainable and profitable for farmers.”
Agrostar is connected with more than 150 partners and provided services for 1 Million farmers. Currently, Agrostar operated from Gujarat, Maharastra and Rajasthan. The startup is also planning to expand its services in South India. Read more startup funding news.