Agritech Startup Balwaan Secures $2 Million Funding in Pre-Series A Round Led by Caspian Leap for Agriculture Fund

• ByStartupStory     |    May 30, 2023

Agritech startup Balwaan secures $2 million funding in Pre-Series A round led by Caspian Leap for Agriculture Fund. Notable investors, including Deepak Agarwal (MD of Bikaji group), Rishab Jain (CFO of Bikaji), Pulkit Bachhawat (Founder, Right Pillar Advisors), and other prominent investors, also participate in the funding. Right Pillar Advisors acts as the financial advisor, while Skwerup Capital serves as the legal advisor for the round.

Balwaan, the agritech startup, plans to utilize the funding to drive product development and establish an extensive distribution network across India. With a focus on expanding in the southern and eastern regions of the country, Balwaan aims to reach a wider customer base. Additionally, the startup intends to set up a dedicated local language after-sales support center to provide 24/7 technical assistance to farmers. This customer-centric approach aims to enhance customer service and optimize the farming experience for users of Balwaan’s machines.

In addition, the funding received will enable the startup to introduce consumer finance options for farmers, facilitating their machine purchases through convenient EMI plans. Furthermore, under its Balwaan Krishi brand, the startup plans to launch ISI-approved small farm machine products, ensuring quality and reliability for farmers in the market.

Commenting on the fresh investment, Rohit Bajaj, cofounder and CEO, Balwaan said, “We are at the forefront of innovation, harnessing cutting-edge technologies like artificial intelligence (AI) and machine learning (ML) to revolutionize our product offerings and obtained to give proactive maintenance and unparalleled support to our dedicated farmers.”

Balwaan Krishi, established in 2016 by Rohit Bajaj and Shubham Bajaj, is a pioneering agricultural technology company that empowers farmers to enhance production and improve their livelihoods. The startup prides itself on transforming rural communities through the provision of affordable and efficient machinery tailored for small and marginal farms.

Balwaan boasts a remarkable track record, having successfully sold over 60,000 units of agricultural equipment. The startup’s products are readily accessible through leading ecommerce platforms such as Amazon and Flipkart, with a remarkable fulfillment rate of over 1,000 orders per day. With a focus on the Indian agricultural sector, which comprises approximately 12 crore farmers, with 10 crore being small-scale and marginal farmers, Balwaan strives to make a significant impact. The startup’s awareness campaigns have garnered substantial traction, connecting with an impressive count of over 10 million farmers.

Despite a significant portion of India’s landmass dedicated to agriculture, farmers face challenges due to limited awareness and inefficiencies in the supply chain. To address these issues, Agrizy, an agritech startup, recently secured $5 million in debt funding from prominent financial institutions such as SBI, Yes Bank, Vivriti Capital, and others. 

The funding will be utilized to enhance Agrizy’s technological capabilities and improve its processing infrastructure. In a separate development, popular personalities Akshay Kumar and Virender Sehwag participated in a Pre-Series A funding round for agritech startup Two Brothers Organic Farm (TBOF) last month. Noteworthy players like CropIn and WayCool also operate in the thriving agritech startup landscape in India.

Follow Startup Story