Agri-tech Startup AgroStar raises $10mn in Series B funding led by Accel Partners

Pune-based Agri-tech Startup AgroStar raises $10mn in Series B funding led by Accel Partners and backed by existing investors, IDG ventures and Aavishkar ventures.

Accel Partners ‘s Prashanth Prakash commented on the deal,

“There are two things he finds interesting about agrotech: first, it speaks of digitisation of startups beyond the first 100 million population of metro and tier-II cities, and second, since AgroStar also works with a number of B2B platforms, Accel looks at it as a B2B platform, with the farmer as a business.The amount of time the team has taken to build, develop and hone this model shows a team that is on-the-ground on execution. They end up spending most of their time in the deep rural areas of the states, which just shows customer focus and dedication towards understanding what really works.”

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Agri-Tech Startup had also raised  $4 million in August 2015 from IDG ventures.

AgroStar is started in 2013 by two brothers Shardul Sheth and Sitanshu Sheth. AgroStar is a “direct to farmer” m-commerce startup that sells agricultural inputs directly to farmers. provides agronomy solutions to farmers and allows them to place an order from pesticides to fertilisers by simply giving a missed call or downloading the mobile app. The call centre follows up with farmers on their requirements and the products are shipped from their warehouses directly to the farmers’ doorsteps.

AgroStar plans to have a pan-India presence in the next 24 months from the current presence in only 3 states Rajasthan, Gujarat and Maharastra. Startup first plans to extend agriculture-rich states like  Haryana, Punjab and Karnataka.

AgroStar Co-founder, Shardul Sheth Said

“The smartphone presence has been growing among the farmers. Around 35% of our customer base now has a smartphone. Around 1 lakh farmers have been using apps to order. They can see the pictures of the products clearly on the app which further pushes the base for us”

AgroStar clocks around 5,000-7,000 transactions daily and receives 2 lakh missed calls from farmers every month.

Shardul Sheth also added,” that the company will use the funds to expand its presence to a few more states including Madhya Pradesh, the Punjab-Haryana belt, Telangana and Andhra Pradesh, and hire in key positions including a chief technology officer, and head of customer experience and marketing.

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