BharatAgri, an advisory led e-commerce platform for farmers, has raised $4.3 million (Rs 35 crore) in its extended Series A funding round led by Arkam Ventures. The round also saw participation from Capria Ventures and existing investors, India Quotient, 021 Capital, and Omnivore.
The funds will be used to scale BharatAgri’s e-commerce platform into new geographies and strengthen its last-mile delivery, the company said in a press release.
Following the investment, Rahul Chandra, MD of Arkam Ventures, will join the board of BharatAgri. The funding marks Arkam’s third investment in the agritech space. Previously, it backed Jai Kisan and Jumbotail.
Founded by Siddharth Dialani and Sai Gole, BharatAgri uses smart farming advisory for farmers to identify and order the best input products specific to their farming needs. The company has built prediction algorithms that provide advisory customised to crops, regions, and climatic changes.
Farmers can access this custom advisory that would help them increase farm yield, and lower input costs and labour effort. Its e-commerce platform claims to offer more than, 10,000 agricultural products such as fertilisers, seeds, pesticides, insecticides, and farming equipment, among others.
With the integration of advisory and e-commerce, BharatAgri claims to increase farmers’ production by 30%, reduce costs by 10% and improve their earnings by 100%. In the next 12 months, it aims to solidify its distribution network, bolster its last mile delivery and improve its turnaround time (TAT).
BharatAgri raised the first tranche of the extended Series A round led by Capria Ventures in February this year.