Pune-based Agrostar, which provides farmers with real-time data relevant to their crops and agricultural land, has secured a fresh $27 Million from multiple investors. The round was led by Bertelsmann India, with participation from existing investors Accel Partners.
Prior to this, AgroStar had raised a total of $14 Million spanning across two rounds. While $10 Million came in 2017, a $4 Million round was raised by the startup back in 2015. The company, that started as a purely mCommerce platform, has since diversified into a tech heavy business. The company provides intelligent insights to farmers backed by data science and proprietary tech.
“We intend to invest more in data science and strengthen our technology capabilities so that we can provide better real-time and relevant information to more farmers in the country,” said Shardul Sheth, chief executive officer of AgroStar.
The company is also planning to strengthen its leadership team by bringing in top executives to lead various verticals like technology, data science and agriculture.
“We have achieved more than a million downloads and wish to scale it up to 10 million beneficiaries within the next two to three years,” said Sheth. The company currently claims to have about 400,000 monthly active users.
AgroStar currently operates in the states of Gujarat, Maharashtra, and Rajasthan and claims to have over 5 Lakh farmers on its digital platform. Farmers in these states can avail agri solutions for their entire crop life-cycle with a simple “missed call” or through its Android app. The app has highly favorable reviews on app store.
Over the next 5 years, according to the company’s website, Agrostar plans to continue to provide incremental value to farmers in terms of wide range of inputs delivered at their doorsteps, world-class agronomy guidance and also access to market linkages and credit.
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