AGRIM has announced that it had raised over US$2 million in seed round funding, back in May 2020, which was led by Omnivore, India Quotient and Accion Venture Lab.
AGRIM is building a digital marketplace for India’s US$50 billion agri-inputs industry, by connecting rural retailers directly with manufacturers and providing value-added solutions for distribution, logistics, marketing and credit. India has over one million agri-input retailers often struggle with limited assortment of goods, poor availability, opaque pricing, spurious product quality and the high cost of working capital. Its marketplace is solving these issues via a simple digital interface, a robust fulfilment process and embedded fintech solutions.
Mukul Garg, Co-founder of AGRIM, said he has seen the agri-inputs supply chain and its challenges firsthand through their family business. “We believe AGRIM, a technology and data-driven marketplace will have a massive impact on the overall agriculture landscape in India in the coming decade.”
Mark Kahn, Managing Partner of Omnivore, said they are thrilled to partner with Mukul and Avi on AGRIM’s journey to transform agri-inputs distribution in India. “At Omnivore, we believe digital marketplaces like AGRIM will create tremendous value for India’s agricultural economy and its 130 million smallholder farmers.”
Madhukar Sinha, Partner at India Quotient, said supply chain for agri-input has always been opaque and broken. “Digital supply chain can unlock huge value for both manufacturers and retailers. We are excited to back AGRIM to take a stab at this large market.”
Amee Parbhoo, Director of Investments for Accion Venture Lab, said agricultural retailers are critical link in the agricultural value chain that supports farmers’ livelihoods.
AGRIM is building a digital B2B marketplace for Indian’s US$50 billion agri-inputs industry, connecting rural retailers directly with manufacturers and providing value-added solutions for distribution, logistics, marketing and credit.