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AgroStar Secured 70 Million in its Series D Round

The agricultural market for advisory services and trade AgroStar has secured $70 million in its Series D financing round led by Evolvence, Schroders Capital, Hero Enterprise, and CDC. The new round came after 33 months for AgroStar.

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AgroStar Secured 70 Million in its Series D Round

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  1. AgroStarSecured$70Million initsSeriesDFinancingRound AgroStarStartupFundingNews TheomnichannelagriculturalmarketforadvisoryservicesandtradeAgroStarhassecured$70millioninitsSeriesDfinancingroundledbyEvolvence,SchrodersCapital,HeroEnterprise,andCDC. Thenewroundcameafter33monthsforAgroStar.BertelsmannIndiahadleda$27millionSeriesCroundwithinthePune-basedcompanyinMarchof2019.Thenewmoneywillbeusedtoexpandbusinessandproductofferingsandhireandenhancemultichannelstrategies,statedthecompanyinthepressrelease. Itwaslaunchedin2013asamissed-callknowledgeprogramforagriculturalists.AgroStarhasevolvedintoanall-stackplatformforfarmersandoffersfarmadvisoryservicesandagriinputsusingacombinationofofflineandonlinechannels.AgroStarhasmorethan1,000offlinetouchpointsinMadhyaPradesh,UttarPradeshandMaharashtra,aswellasotherregions. Youmayalsoliketoread:Zepto on ItsWay to Raise $250Million AgroStarplanstoinstallatleast5,000touchpointslikethisoverthecomingyears.Accordingtoitswebsite,itsAndroid-onlyapplicationhasmorethan5milliondownloads,wherefarmerssharetheirknowledgeandcanpurchaseauthenticagriculturalinputs.Thecompany'sofferings

  2. havebeenlimitedtocontentandcommerceuptothepresenttime,butit'sexpectedtostartlendingshortly.havebeenlimitedtocontentandcommerceuptothepresenttime,butit'sexpectedtostartlendingshortly. AlthoughthecompanyhasyettoannouncefinancialresultsforFY21,itsoperatingearningsjumpedby80%to153.69millioninFY20,whichwasjust85.56croreforFY19.Intermsofrevenues,thelossesincreasedby78%to93.81millioninFY20,upfromthe52.82millioninitspreviousbudgetperiod(FY19). Alsoread:CREDisLooking to Acquire Happay ItisamongthelargestroundsoffundingforAgritechstartupsinIndia.ThemonthofOctoberwaswhenPatna,alongwithGurugram-basedDeHaat,wereabletosecure115millionintheSeriesDround,whichwasthelargestamounteverraisedbyanIndianagriculturaltechstartupinonetime. TigerGlobal,whichNinjacartbacks,alsoreceivedasumof$90mduringitsseriesCround.However,Waycoolhaslaunchedanadditionalroundandisexpectedtoraisemoreexistingandnewinvestors.Entrackrreportedexclusivenewsofthisonthe13thofOctober.AgroStariscompetingwithUnnati,Gramophone,DeHaatandothercompanies.Unnatialsohasraisedthesumof$8.5millionfromIncofinInvestmentManagement,NabVenturesandOrios.

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