🚜 Agrim's Mission in Agriculture
Agrim, co-founded by Mukul Garg and Avi Jain in 2020, is on a mission to simplify the procurement of agricultural inputs for India's vast farming community. Agriculture supports 42% of India's population and contributes 18% to the GDP. The agri-input market, despite its size, faces challenges due to its reliance on traditional, fragmented supply chains. Agrim aims to streamline this by offering a just-in-time supply chain for agri-inputs, including seeds, pesticides, and tools, ensuring timely delivery directly from manufacturers to retailers.
💰 Recent Funding Boost
In its recent Series B funding round, Agrim secured $17.3M, led by Asia Impact. The funds will help Agrim expand its product catalog from 30,000 to 150,000 items over the next three years. The startup also plans to expand its reach to southern and western regions of India, including states like Telangana, Karnataka, Tamil Nadu, and Maharashtra. This expansion is part of Agrim's broader goal to democratize access to high-quality agricultural inputs and support farmers across India.
🛠 Expanding Services and Catalog
Agrim currently offers products across four categories: seeds, agrochemicals, nutrition, and tools. With the new funding, Agrim plans to add two more categories—animal feed and irrigation equipment—within six months. The company is also exploring the private-label market to offer more affordable options for farmers. This move is expected to address the demand-supply gaps that often leave farmers paying premium prices for essential inputs.
📈 Growth and Future Plans
Agrim claims a network of 1,200 manufacturers and 25,000 retailers, serving 15M farmers. The company generated over $36M in the last financial year and is on track to reach an annual revenue run rate of $60M. Agrim also offers credit to retailers, with plans to extend the credit period and increase its lending base from 10% to 30% of retailers in the coming years. As Mukul Garg stated, “We are trying to democratize as a platform,” emphasizing Agrim's commitment to solving the challenges faced by India's agricultural sector.
Will Agrim’s expansion solve India’s agri-input challenges?
