PNN
Ahmedabad (Gujarat) [India], November 1: Agritech supply chain startup Bull Agritech raises pre-seed investment worth USD 100k (Rs 80 Lakhs) funding led by Pedalstart, with participation from renowned names in the Indian agritech space. Bull Agritech has raised investments worth more than 1 Crore so far this year.
The startup plans to use the fresh capital to grow aggressively and hire across tech and business functions.
Founded in 2021 by Hit Desai and Divyajeet Chauhan, Bull connects farmers directly to agri-commodity processors providing end to end supply chain solutions, in a highly fragmented non-perishable agri-supply chain market. The way Bull has gained traction amongst the farmers has been the reason behind the buzz in the Agritech space.
In the current traditional system farmers face obstacles like payment insecurity, logistical challenges, and limited market access, forcing them into lengthy intermediary chains, eroding profits. Bull Agritech offers an integrated platform, managing technology, logistics, quality assessment, and payment security, streamlining connections between farmers and processors.
"Bull has facilitated trades worth 25 Crores in the last 18 months, more than 5000 farmers have chosen to sell their crop with Bull instead of going to a local APMC. we have reported 200% year on year growth and we plan to grow at 25% month on month," the company said.
"We see a huge opportunity in the nonperishable agri-trade market as the farmers have been left with a 100 years old monopoly that is APMC which lacks market connectivity, transparency and efficiency. It is a known fact that the intermediaries use this monopoly to manipulate the market which results in farmers' loss. There has been no brand in the output linkage space which is widely trusted by farmers at scale when it comes to selling their crop. We come from North Gujarat, the land of white revolution and cooperative movement which created the brand AMUL in the rural as well as urban market, and we are hopeful about being a pillar to the green market revolution which India awaits," said Hit Desai, cofounder of Bull Agritech.
"There are many players who have dabbled with agri output marketplace; however, the way Bull Agritech has gone deep on select commodities and stitched the ESG story together with basic economics is surely commendable. I am extremely bullish about the founders and this business model," said Ramakrishnan M, director at zetta Farms and angel investor.
To learn more, please visit: https://www.bullagritech.in/
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)