AGRIM Secures $17.3 Million in Series B Funding

Gurugram, India—AGRIM, a leading B2B platform in the agri-inputs sector, has successfully raised $17.3 million (approximately ₹145 crore) in a Series B funding round. Asia Impact led the round, which saw continued participation from existing investors, including Kalaari Capital, India Quotient, Omnivore, and Accion Venture Lab.

This fresh infusion of capital will be instrumental in expanding AGRIM’s operations across India, strengthening its technological infrastructure, and enhancing its product offerings. AGRIM aims to solidify its position as the preferred partner for agri-input retailers and manufacturers nationwide.

Transforming the Agri-Inputs Ecosystem

Established in April 2020 by Mukul Garg and Avi Jain, AGRIM connects agri-input retailers directly with manufacturers, providing a seamless distribution, credit, logistics, and marketing platform. The platform currently boasts an impressive portfolio of over 30,000 SKUs from 1,200 manufacturers, serving 25,000 retailers who, in turn, educate and supply 15 million farmers across India.

AGRIM employs a sophisticated pricing intelligence model that ensures optimal product pricing. The company earns margins ranging from 10% to 70%. This approach, combined with its robust technological capabilities, has positioned AGRIM as a key player in the agri-inputs market.

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“Our vision is to make AGRIM the go-to platform for agri-input retailers across India. This funding round is a significant milestone in our journey towards revolutionizing the agricultural supply chain. We are committed to investing in our technology and expanding our team to deliver transformative digital solutions that will enhance the efficiency and accessibility of agri-inputs in India,” said Mukul Garg, Co-founder and CEO of AGRIM.

Impressive Growth and Market Impact

AGRIM has shown remarkable growth since its inception. According to TheKredible, a startup data intelligence platform, AGRIM’s operating revenue nearly tripled to ₹157.36 crore in FY23 from ₹64.6 crore in FY22. However, the company also reported a 64% increase in losses, amounting to ₹28 crore during the same period.

Despite the broader slowdown in agritech funding, AGRIM’s $17.3 million Series B round is one of the largest in the sector this year. The agritech space has seen a noticeable decline in investment, with startups raising only $150 million across more than 30 deals as of August 30. AGRIM’s successful funding round highlights the growing investor confidence in its business model and its potential to reshape the agricultural supply chain in India.

Christian Banno of Asia Impact commented on the investment: “AGRIM’s rapid growth and dedication to innovation align perfectly with our mission to support scalable solutions in critical industries. We are excited to partner with AGRIM as they expand their reach and deepen their impact on the agricultural sector in India.”

With this new funding, AGRIM is well-positioned to continue its growth trajectory and further disrupt the traditional agri-inputs market, bringing more efficiency, transparency, and accessibility to the sector.