Farm Equipment platform Pumpkart raises $2 million funding under Samruddhi Scheme
- ByTejika Bajaj | January 24, 2022
Farm equipment platform Pumpkart has recently announced that it has raised a sum of $2 million under the Karnataka Government’s Samruddhi Scheme . The state government had introduced the scheme to allow entrepreneurs from economically backward segments to set up their own retail stores.
The startup has pegged INR 65,000 crore for organising farm equipment market. The company officials have revealed that the startup intends to utilise the recently infused capital to procure and produce more farm equipment. Furthermore, they also intend to add modern practises into agriculture through its platform.
“We’re on a mission of revolutionising the biggest sector our economy is based upon. We’re organising the unorganised market of farm equipment and agricultural machinery. Pumpkart has enabled a lot of people with employment and entrepreneurship by opening more than 75 stores across Karnataka. This is what we are all about, and we will keep doing it throughout our journey,” said K S Bhatia, Founder and Chief Executive Officer (CEO) of Pumpkart.
The Punjab-based firm said it has recently inked a pact to set up 1,200 stores across Uttar Pradesh. It believes that partnerships like these will generate employment and entrepreneurship opportunities for people of rural pockets.
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