ACTIVITY : 6

AGRI STARTUP COMPANY

INTRODUCTION:
Agriculture startups are companies that work in agriculture and related industries
and are leveraging the benefits of technology to provide added value services and automation
solutions to traditional agriculture. These benefits are already gaining a lot of ground,
especially among tech-savvy farmers.
These startups work towards disruptive cultivation, distribution, and processing
technology for the agricultural industry. Hence, investors also believe in the idea and invest
in agriculture startups so that we may see brighter and better days ahead.

GROWTH OF AGRI STARTUPS:

Since the Indus Valley Civilisation, agriculture sector has been a mainstay of the
Indian economy. Almost 70% of Indian households still depend on agriculture, and the sector
contributes to 17-18% of the country’s overall GDP.

The increasing demand for innovation in agriculture and the declining last-mile
delivery to farmers have introduced new terminology to the Indian agriculture ecosystem,
Agritech.

AgriTech is an amalgamation of agriculture infused with modern technologies to

produce efficiently generating sufficient revenues to support livelihoods. India is home to a
large piece of arable land with 15 agro-climatic zones, having almost all types of weather
conditions and soil types to produce multiple types of crops.

Because of this fact, AgriTech startups are providing relevant and innovative
solutions to a number of challenges faced across the agriculture value chain. A wave of
AgriTech startups has started emerging in the last few years, with thousands of startups
disrupting the age-old agriculture system with innovative ideas and affordable solutions.
Through its flagship event of the National Startup Awards, Startup India acknowledged
startups in the agriculture sector which have been instrumental in revolutionising the story of
new India. Here is a look at the winners of the National Startup Awards 2021 that are helping
India propel forward through their remarkable and impactful solutions.
TOP NINE AGRISTARTUPS IN INDIA :

1. FARMART:

Alekh Sanghera, Co-founder and CEO of FarMart, said: “Ranking top 5 in the
prestigious Deloitte Technology Fast 50 India, for two consecutive years is a testament to our
relentless pursuit of pioneering innovation within the food-tech domain. This recognition
mirrors the dedication and innovative solutions our exceptional team has contributed to
building a robust food economy. This accolade inspires us to persist in pushing technological
boundaries, delivering impactful solutions, and shaping a progressive future in an age-old
industry.”

FarMart is India’s leading SaaS-B2B food commerce platform serving Asia, the
Middle East, and Africa. We are revolutionizing food sourcing and processing by making it
faster, more efficient, and more sustainable for humanity. We are on a mission to make the
food economy more resilient, reliable and rewarding .

FarMart is dedicated to building The Good Food Economy. FarMart has ranked top 5
in the prestigious Deloitte Tech Fast Companies in 2023 as well as 2022. FarMart is proud to
have partnered with and backed by renowned VCs like General Catalyst, Matrix Partners,
Omidyar Network and Avaana Capital that invest in leading tech companies that are
sustainable and purposeful. As of May 2024, FarMart has built a network of 250K farm
aggregators, over 3.8 million farmers, and over 4000 food businesses across the globe.
2. VEGROW:

Vegrow is in the business of fresh fruits with addressable market size of $60
Billion. Vegrow is a tech platform partnering with farmers, aggregating supply, and selling
to organized demand through partnership.

Vegrow simplifies farming and increases the land utilization for farmers. Vegrow is
a VC funded startup and founded by a group of IITians having a passion for agtech and with
experience in agri-input & agri-output companies viz. AgroStar & ITC.

The team has experience in building products from 0 to 1 and 1 to 100 solving
critical problems of market places & B2B business like UrbanCompany & Chronus.

Founded in 2020 by IIT alumni Praneeth Kumar, Mrudhukar Batchu, Kiran Naik
and Shobhit Jain, Vegrow offers a B2B tech platform for fruits and connects wholesalers and
traders with farmers.

Agritech startup Vegrow, on December 13, said it raised $46 million in a Series C
funding round led by GIC, Singapore’s sovereign wealth fund, in contrast to the low number
of late-stage deals in 2023.

In a statement, the company said that the funding round also saw participation from
existing investors Prosus Ventures, Matrix Partners India, Elevation Capital and Lightspeed.
The company said it will use the fund to expand Vegrow’s reach across India and strengthen
its global network.
3. BIGHAAT:

BigHaat is the largest Agriculture Digital Platform for Farmers in India.

Combining years of experience in agriculture with the power of data, science, and
technology, BigHaat's Online Farmer-Centric Platform is empowering farmers to acquire
the right knowledge about crops and get timely and vital advice.

BigHaat is the largest pan India Agri Inputs digital marketplace platform. As a
farmer-centric platform, we are providing a holistic solution offering personalized technical
guidance and accessibility to a wide range of high quality inputs to the farmers.

Since inception in 2015, we have been transforming the future of millions of farmers
by leveraging the power of data, science and technology, thereby significantly improving
sustainability and profitability for the farmers and over 4 million+ farmers across the country
have engaged on the platform. Our ‘Direct-to-Farmer’ model is building an efficient and
transparent Agri inputs ecosystem and transforming factory-to-farm supply-chain.

Data analytics platform for Agri Input manufacturers is offering key insights of
demand-supply, new opportunities, product feedback and leading to significant reduction in
marketing and distribution cost to over 200+ manufacturers. It is an industry leading
platform today and growing rapidly with the huge internet penetration in rural India, and we
aim to build India’s largest and dominant Agri digital platform with a target to impact over 10
Million farmers in next 3 years.
4. AGROSTAR:

AgroStar is one of India’s foremost AgTech start-ups, working on the mission of

#HelpingFarmersWin. We are building the largest and most impactful agri-solutions platform
to provide end-to-end solutions for Indian farmers.

At AgroStar, solutions are powered by an extensive amount of data and agronomy

knowledge, disseminated through our state-of-the-art tech-enabled platform, built in-house by
our product and engineering teams. Our capability of omnichannel accessibility has further
enhanced our reach to millions of farmers in the country. Our platform also provides farmers
with access to domestic and global markets for their produce.

AgroStar’s solutions create a significant impact on the lives of farmers by helping

them in increasing their crop yield, reduce their input expenditure, help grow better quality
output and access global and domestic markets to fetch the best rate for their output.

AgroStar currently operates in the states of Gujarat, Maharashtra, Rajasthan,

Madhya Pradesh, Uttar Pradesh, Bihar, Chattisgarh, Haryana, Karnataka and Andhra Pradesh.
Farmers in these states can avail of agri solutions for the entire crop life-cycle with a simple
call to our Agri Advisory Center, through the AgroStar Agri Doctor app, and by visiting an
AgroStar retail store within proximity for personal assistance.
5. DEHAAT:

DeHaat was founded in 2012 by Shashank Kumar, an IIT Delhi alumnus, Shyam
Sundar, IIT Kharagpur and IIM Ahmedabad alumnus, NIT Jamshedpur alumnus Amrendra
Singh, IIT Dhanbad alumni Adarsh Srivastava and Abhishek Dokania. DeHaat provides
agricultural services to farmers, including distribution of seeds, pesticides, fertilizers, farm
machinery, cattle feed and all agriculture allied products, farm advisory, financial services,
and market linkages to sell farm produce.

In January 2021, DeHaat acquired FarmGuide, a business-to-business (B2B),

Software as a Service (SaaS) platform.

In January 2022, DeHaat acquired agri-input marketplace startup Helicrofter to

expand its presence in Maharashtra and other parts of western India.

To strengthen its foothold in the global food supply chain, DeHaat acquired the food
tech company, Y-Cook India Pvt. Ltd. in April 2022.

DeHaat has established linkages with around 7 lakh smallholder farmers in Bihar,
Jharkhand, West Bengal, Odisha, Uttar Pradesh, Rajasthan, and Madhya Pradesh through its
4,000 Dehaat centers, which are run via the franchise model.

Farmers linked to DeHaat get access to agricultural input products such as seeds,
fertilizers, and pesticides, along with an artificial intelligence (AI)-based customized crop
advisory on pest and disease management, delivered via a mobile app and call centers.
[Link]:

FarmTheory focuses on the ethical sourcing and delivery of fresh produce. The
company specializes in delivering fresh fruits and vegetables to the food service and
processing industry within 20 hours of harvesting. It was founded in 2020 and is based in
Bangalore, India.

Turning food waste into farmers' gain through a tech platform that connects local
farmers with businesses like restaurants, cafes and cloud kitchens that are more interested in
taste and nutrition of farm produce rather than in looks. With us, fruits and vegetables that
might have been wasted get used, farmers get paid, and less food ends up in the landfill. It's a
win-win-win idea to save what's good.

Online B2B distributor of farm produce. It sources fruits and vegetables from
nearby farms and delivers them to restaurants and other commercial kitchens.
FarmTheory serves in the B2B space in the Retail, Food and Agriculture Tech market
segments.

"Farmtheory embodies a vision where every connection between farmer and consumer
signifies more than just a transaction — it represents a commitment to enriching lives and
fostering sustainability. Through our platform, we empower farmers to share their harvests
with the world, creating meaningful connections that sustain communities and promote
environmental responsibility. We're thrilled to welcome Merak Ventures as our partner,
sharing our values and vision as we work together towards our goals," said Arpit Agarwal,
Co-founder of Farmtheory.
[Link]:

Gramophone is a full-stack intelligent farming platform that guides farmers

throughout the crop cycle – offering crop input, intelligent selection, access to scientific
agronomy advice, including cropping practices, and output market linkages

The agritech startup currently operates in five states - Uttar Pradesh, Madhya
Pradesh, Chhattisgarh, Rajasthan and Maharashtra

Farmers can expect a 30-40% net increase in income by using Gramophone’s

solutions, the startup claims

It has also partnered with a number of companies such as Bayer, Dhanuka, PI

Industries, Coromandel and Tata Rallis to provide quality seeds and agrochemicals to
maximise crop yield. To enable market linkages for farm output, it has partnered with several
corporate buyers and has created a network of 4,000+ traders on its platform.

The agritech startup claims to have onboarded more than 2.5 Mn farmers from
Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Rajasthan and Maharashtra.

It has raised close to $17 Mn to date with the business expected to grow nearly
2.5x in FY23. According to Khan, the platform clocked more than INR 180 Cr in revenue in
FY22, and it is targeting INR 400-500 Cr in the current year.
[Link]:

Ergos aims to transform the agricultural landscape by digitising grain storage,

effectively turning grains into tradable digital assets. This allows farmers to sell their produce at
opportune moments, rather than immediately post-harvest, thereby maximising their profit margins.

Founder and CEO of Ergos, Kishor Jha, articulated the need for revitalising the farming
sector, stating, "There is a pressing need to revitalise agriculture by empowering farmers and catering
to their needs at the farmgate." Ergos does exactly that through its 'Grainbank' platform.

With secure storage options for grains, the platform grants farmers an eight to nine-
month buffer after harvest, during which they can decide on the optimal time to sell their produce.
Furthermore, the startup extends financial support by facilitating affordable credit options through
partner banks.

Currently, Ergos claims to support more than 160,000 farmers through its platform, with
a physical network of farm-gate-based warehouses, known as Grainbank, in over 200 locations. This
expansive network illustrates the scalability and effectiveness of Ergos’ model, and the recent funding
will likely catapult it into its next phase of development.

In a major financial boost to Indian agriculture, Bengaluru-based agritech

startup Ergos has secured $10 million in funding.
[Link] KISAN:

Salam Kisan is a tech-enabled end-to-end agriculture platform powered

by artificial intelligence and data to increase productivity and profitability for farmers.
In less than a year of operations. Salam Kisan has amassed over 116649 farmers,
making us one of the fastest-growing full-stack startups in the ag-tech space. The
fourth agriculture revolution is here, and Salam Kisan is a key enabler.

Nearly five decades ago, India opened its eyes to the dawn of the green revolution
with the adoption of high-yielding variety of seeds, mechanised farm tools, pesticides, and
fertilisers. Consequently, the country was able to cull widespread hunger and poverty and
move from importing grains to a state of self-sufficiency.

Notably, the Centre liberalised the drone industry in 2021, paving the way for their
use in the Indian agri space and in areas of crop assessment, digitisation of land records, and
spraying of pesticides.

This has not only helped Indian farmers unlock new opportunities but also
entrepreneurs, who are making waves in the Indian agri space with their state-of-the-art
services, top-of-the-class indigenous tech stack and intelligent drones.

Mumbai-based agritech startup Salam Kisan is one such name that is enabling the
agricultural space with its ‘drone-as-a-service’ offerings and drone training to rural youth.

Founded in 2022 by Dhanashri Mandhani, Salam Kisan is an end-to-end agritech

startup, which offers services like drone-based soil testing, produce procurement, and
marketplace offerings, to the farmers.