Private Equity

PE-VC Fund Investments

Farm-tech startup AgroStar raises $30-M from Just Climate, others

Economic Times  

Pune-based farm-tech startup AgroStar has raised USD 30 million in a funding round led by environment-focused investment firm Just Climate with participation from existing investors Aavishkaar India, Bertelsmann, Evolvence India, Chiratae Ventures, and Hero Enterprises.Founded in 2013 by Sitanshu Sheth and Shardul Sheth, AgroStar uses data and technology to provide farmers with quality agri-inputs and address knowledge gaps in farming practices. AgroStar has an omnichannel network comprising over 10,000 retail stores and a direct-to-farmer digital platform, reaching over 10 million farmers across 11 states, including Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, and Uttar Pradesh.The firm will use the fresh funds for omnichannel expansion, product innovation, and development of artificial intelligence (AI) capabilities.

Between May-13 and Apr-25, Agrostar had attracted about USD 142.92 M from Aavishkaar, Intellecap Impact Investment Network , Chiratae Ventures, Accel India, Accel USA, Bertelsmann India Investments, Rabo Frontier Ventures, British International Investment, Evolvence, Hero Motocorp, InnoVen Capital, Schroders, and others.For FY24, Agrostar had reported about INR 746.89 Cr in Operating Income and about INR 327.43 Cr in PAT.