Leading the way in agritech, the full-stack startup, Leads Connect, has secured a substantial investment of INR 500 crores (equivalent to $62.5 million) from BL Agro Industries Ltd, a prominent FMCG company. This considerable investment is poised to reinforce Leads Connect’s agritech capabilities, benefiting farmers across India.
BL Agro’s funding commitment to Leads Connect will be distributed over three years, ultimately leading to the acquisition of a controlling stake in this innovative startup. Leads Connect specializes in farm analytics and advisory services, leveraging agritech-driven data analytics, crop-cutting experiments, risk management, financial services (including farmer loans), and direct procurement from farmers.
The influx of capital will empower Leads Connect to advance its technological infrastructure, broaden its outreach to farmers, Farmer Producer Organizations (FPOs), and cooperatives, and expand its network of beneficiary farmers by establishing AGRANI Centers in various cities. Moreover, this investment will facilitate awareness campaigns, promote mergers and acquisitions, champion contract farming initiatives, and facilitate research and development in deep tech and AI/ML applications for the agricultural sector. Furthermore, it will optimize procurement quality and streamline the supply chain cycle for BL Agro.
Founded in 2009 by Navneet Ravikar, Leads Connect has actively enhanced market linkages. Through this collaboration, it will now further bolster BL Agro’s supply chain management capabilities. BL Agro aims to leverage Leads Connect’s comprehensive farm value chain solution, encompassing farm advisory, fintech interventions, and market linkage, to establish a stronger connection with farmers. This partnership endeavours to bridge the gap between farmers and buyers, ensuring favourable prices and markets for their high-quality produce while maintaining control over quality and pricing.
Navneet Ravikar, Chairman and Managing Director of Leads Connect Services, emphasized the significance of this investment, stating, “With agritech taking the lead, Indian agriculture stands at a turning point. Agriculture contributes nearly 20% to India’s GDP, and changing weather patterns and sustainability challenges have posed significant hurdles for the industry. It’s time for agri-tech to play a more substantial role in boosting productivity and addressing farmers’ challenges. Our partnership with BL Agro will enable us to expand agri-tech and agri-fintech in the country, delivering greater value to Indian farmers.”
Ashish Khandelwal, Managing Director of BL Agro, expressed enthusiasm about this collaboration, stating, “We are delighted to announce our strategic investment in Leads Connect, aimed at forging a new chapter in the Indian agri-tech industry. Over the next three years, we will invest Rs. 500 crore, leading to a controlling stake in Leads Connect. The synergy between BL Agro and Leads Connect will enhance market linkages, offering Indian farmers more value. We hope this partnership will bring farmers closer to consumers through improved supply chain management.”
