Agri trading startup Agri Marg raises 1.12 Crore in its Pre-seed round of Funding
- ByStartupStory | July 7, 2022
In a pre-seed round, AGRI MARG, an agricultural commodity trading platform, has raised 1.12 crore rupees. Angel investors including Ramesh Kumar Bajaj, Ankitha Bung, Megha Bung, and CA Shubhangi, a member of IVY Growth Associates, are the investors who took part in pre-seed funding.
AGRI MARG provides a simplified and one-stop solution to the agricultural commodity supply chain. India is a country where agriculture is often called the backbone, with more than 50% of its work force engaged in agriculture and food processing sectors, yet the supply chain network for agricultural commodities remains unorganised and inefficient, with a lot of intermediaries present between the real producers (farmers, first-hand suppliers) and end buyers.
AGRI MARG, with its services, builds the bridge and connects the producers of agricultural commodities directly to end buyers. AGRI MARG’s services include providing day-to-day real-time rates of commodities as well as price history; quality checks while sourcing commodities; optimised logistics to minimise waste; delivery tracking; credit lines for end buyers; and resale assurance to buyers in the event of damage to delivered commodities.
The company leverages data, technology, and logistical services to build a complete supply chain network. With AGRI MARG being present at every step of the supply chain and by cutting down on various middleman dependencies, it provides an opportunity to improve ease, efficiency, and ways to enhance profits for all parties (suppliers, customers, etc.) involved.
Rajiv Bang, founder of AGRI MARG, said, “Their vision is to create an ecosystem of services and trust for their customers to increase ease and efficiency in their daily business.” He further added, “Unless the day-to-day operations of every stakeholder in the agricultural supply chain aren’t organised and efficient, development and growth are just mere words in the agricultural sector.”
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