Bengaluru based BigHaat Agro raises INR 100 crore funding from JM Financial PE
- ByTejika Bajaj | January 21, 2022
Bengaluru based agritech startup BigHaat Agro has recently revealed that it has raised a sum of INR 100 crore in a funding round led by JM Financial Private Equity. The round also witnessed participation from existing investor Beyond Next Ventures.
Talking about the recent infusion of capital and the successive strategy of the startup, the Managing Director at BigHaat, Sateesh Nukala said, “This growth capital infusion and partnership with a seasoned investor like JM Financial Private Equity will help us accelerate our current expansion plans and expand our reach across the Indian hinterlands. We are committed to deepening this relationship with each passing year and to create the first profitable, end-to-end agritech platform in the country.”
The company officials have revealed that the recently infused capital will be utilised by the firm to support the augmentation of its existing technology infrastructure. Furthermore, the startup also intends to deploy the funds to accelerate the expansion of the firm’s operations. This investment marks the ninth investment of JM Financial PE.
“We are extremely bullish on the fundamental shift that we are witnessing in the Indian agriculture sector driven by the increased internet and smartphone usage in rural India. It’s the start of a decade-long story and will eventually go on to digitise the oldest, biggest and employment-wise the most important sector of the Indian economy,” said Darius Pandole, MD & CEO, PE & Equity AIFs, JM Financial.
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