Rabo Frontier Ventures announced an investment in AgroStar, India’s largest Agri platform for farmers. This second close of the recently announced series C investment led by Bertelsmann will bring the total capital raised by AgroStar to $27 million. Along with RFV, Bertelsmann and its existing investors Accel, Chirate Ventures and Aavishkar Bharat Fund participated in this series C round.
With the capital raised AgroStar will focus on scaling its operations to other states of the country and provide additional value added services to farmers, thereby strengthening its position as an Indian e-commerce platform for farmers.
In India alone, more than 130 million farmers who are in pursuit of higher yields, less costs and better margins for the farms could potentially benefit from AgroStar’s services of access to inputs, door step delivery and agronomy guidance. Due to the market potential, fast digitization and access to affordable data connectivity, AgroStar will further invest in its farmer facing mobile app to provide real time solutions to farmers agri needs. AgroStar has already managed to attract one million farmers that are using the platform through its mobile app.
Shardul Sheth CEO and Co-Founder of AgroStar said “We are thrilled to have Rabo Frontier Ventures participate in our growth journey. Rabo’s deep and years of experience in the global agri space would be invaluable to us as we continue to scale our operations and brings greater value additions to the Indian farmer.”
Rabo Frontier Ventures sees a global development in food & agri towards more and more digital oriented services. It is a market on the brink of a data revolution. Rabo Frontier Ventures is a partner for these companies with the ambition to be on the forefront of this data revolution. Besides the capital infusion, RFV will provide (global) knowledge, expertise and its extensive network in the food and agri sector to support AgroStar in its growth trajectory.
For more information:
Rabobank
www.rabobank.com