Funding Alert
Kalaari Capital led a $10 million Series A round for AGRIM
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ByStartupStory | February 18, 2022
Agrim, a B2B agri-inputs platform, announced on Thursday that it had secured $10 million in a fundraising round headed by Kalaari Capital. Existing investors Omnivore, India Quotient, and Accion Venture Labs also participated in the round. As part of its Bharat Banking program, Axis Bank also participated in the round.
The business intends to utilize the funds to hire more employees, create embedded financial products, and expand its operations. In 2022, it plans to generate $100 million in annualised gross merchandising value (GMV).
The Gurugram-based firm, established by Mukul Garg and Avi Jain, is creating a digital platform for India’s $50 billion agri-inputs industry by linking merchants directly with producers and delivering solutions for distribution, credit, logistics, and marketing to all stakeholders.
Agrim now has approximately 2,500 producers and 170,000 shops on its network, which spans 500 districts.
The firm, which was founded in 2020, received $2 million in venture investment from India Quotient, Omnivore, Accion Venture Lab, and a handful of other unicorn cofounders in the same year (Rajesh Yabaji of BlackBuck and Rahul Jaimini of Swiggy).
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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