ImpactAlpha, December 14 — Pune-based AgroStar launched in 2013 to help small farmers secure seeds, fertilizer and other agricultural inputs at affordable prices.
Today, it provides online and offline farming advisory services for five million farmers in Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, and Uttar Pradesh.
The Series D round was led by Evolvence, Schroders Capital, Hero Enterprise and CDC Group. Existing investors Aavishkaar Capital and Accel also participated.
The financing gives “us opportunities to go after acquisitions,” said AgroStar’s Shardul Sheth. “The idea is to look at exactly what farmers need.”
AgroStar currently operates 1,000 stores and is hoping to add up to 4,000 more in the next two years as it connects with farmers beyond the five states where it currently operates.