Agri-tech startup AgroStar has raised Rs 57.65 crore (approximately $6.7 million) in a fresh funding round led by its existing investors. This marks the first investment round of the year for the Accel-backed company, reinforcing investor confidence in its mission to digitally empower farmers across India.
According to regulatory filings accessed via the Registrar of Companies, AgroStar’s board approved a special resolution to allot 1,45,397 compulsory convertible preference shares for Rs 3,965 each. The round saw participation from long-time backers including Accel India, Evolvence, Chiratae Ventures, Hero Enterprises, Bertelsmann, and Aavishkaar Capital.
Post-allotment, the Pune-based company is now valued at approximately $293 million, according to Entrackr’s estimates.
Founded to streamline and digitize agricultural services, AgroStar operates through a hybrid online and offline model that provides farmers with agri-advisory services and inputs. The startup earns its revenue primarily from the sale of agricultural inputs such as seeds, fertilizers, and crop protection products.
With this round, AgroStar has now raised over $110 million in total funding. Its previous major round was a $70 million Series D, led by global asset manager Schroders. Data from TheKredible indicates that before this latest infusion, Chiratae Ventures held the largest external stake in the company, followed by Aavishkaar Capital, Accel, and Bertelsmann.
AgroStar last filed financials for FY22, where it posted Rs 260 crore in revenue, reflecting an impressive 88.4% year-on-year growth, though it also incurred losses amounting to Rs 142 crore during the same period.
In the competitive agri-tech space, AgroStar faces off with players like Ninjacart, DeHaat, and WayCool, all of which are working to transform India’s agricultural value chain through technology-driven solutions.
This fresh capital is expected to help AgroStar strengthen its product offerings, expand its farmer network, and drive deeper penetration into India’s rural heartland.
