AGRIM, a leading B2B platform specializing in agricultural inputs, has successfully raised $17.3 million in its Series B funding round. The round was spearheaded by Asia Impact, with significant contributions from existing investors including Kalaari Capital, India Quotient, Omnivore, and Accion Venture Lab.
The fresh capital infusion will be directed towards bolstering AGRIM’s technological capabilities, enhancing its product offerings, and expanding its operational footprint across India. The company aims to solidify its position as the go-to partner for agri-input retailers and manufacturers nationwide.
Founded in April 2020 by Mukul Garg and Avi Jain, AGRIM connects agri-input retailers directly with manufacturers, offering a comprehensive solution that includes distribution, credit, logistics, and marketing services. The platform covers a wide range of agri-input categories, including seeds, fertilizers, crop protection products, animal nutrition, and farm implements.
AGRIM’s platform currently features over 30,000 SKUs from 1,200 manufacturers, serving 25,000 retailers who, in turn, support and educate approximately 15 million farmers. The company employs a sophisticated pricing intelligence model to ensure competitive pricing, with margins ranging from 10% to 70% depending on the product.
This $17.3 million funding round marks one of the largest for agritech startups in 2024. Despite a slowdown in agritech investment—where startups have raised only $150 million across more than 30 deals as of August 30—AGRIM’s significant raise stands out. Other notable rounds in the sector include Arya.ag’s $29 million and Superplum’s $15 million.
AGRIM’s continued growth and ability to attract substantial investment underscore its pivotal role in transforming India’s agricultural supply chain, ultimately benefiting millions of farmers across the country.
