Kalaari Capital led a $10 million Series A round for AGRIM
- 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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