Indian agriculture tech startup AgroStar announced today that it has raised a $27 million Series C for its platform, which helps farmers increase crop production, manage orders and buy supplies online. The round was led by Bertelsmann India Investments, with participation from returning investors Accel, Chiratae Ventures and Aavishkaar Bharat Fund.
AgroStar bills its app as a “one-stop solution” that contains everything India’s 135 million farmers need, including agronomy tools, such as a crop disease diagnosis tool that combines image recognition technology, educational content and an e-commerce store that sells farming products. Its new funding, which brings AgroStar’s total raised so far to $42 million, will be used to scale the platform in order to take advantage of India’s increasing smartphone penetration in rural areas and hire more agriculture experts.
CEO and co-founder Shardul Sheth told TechCrunch that the app has been downloaded more than a million times and engaged with by more than a million farmers. Its target is to reach 10 million downloads over the next two years and expand its e-commerce operations to more states in India.
In a statement, Bertelsmann India Investments managing director Pankaj Makkar said the investment firm will work with AgroStar to “build the right strategy for its supply chain and will bring the best practices from our investments in similar spaces in China.”
Source: New feed