Agri-tech Startup Bull Agritech Raises $100K in Pre-seed Funding Bull Agritech has facilitated trade worth INR 25 crores and has onboarded 15,000 farmers digitally in just 18 months
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Bull Agritech, an agri-tech startup, announced it had raised INR 8 million in a pre-seed funding round led by PedalStart, a startup accelerator. The startup will be utilizing funds for the growth of the company, accelerating its operations, and expanding and building its workforce.
Founded by Hit Desai and Divyajeet Chauhan in 2021, Bull Agritech is working to connect farmers directly to agri-commodity processors providing end-to-end supply chain solutions. NASSCOM, reports that there were around 450 agri-tech startups in 2022. Additionally, the Indian agri-tech sector is expected to touch USD 34 billion by 2027.
"We see a huge opportunity in the non-perishable agri-trade market as the farmers have been left with a 100-year-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," shares Hit Desai, Co-founder, Bull Agritech.
Bull Agritech is a part of PedalStart's current cohort One-to-N. "One-to-N has been a cohort that has set a benchmark for us as well. Out of 9 startups which have been selected had raised their first round and here we came up to upscale their journey to level two. Bull Agritech has been the first success, and counting on more coming up," shares Manas Pal and Aditya Darolia, Co-founders, PedalStart.
So far, Bull Agritech has facilitated trade worth INR 25 crores and has onboarded 15,000 farmers digitally in just 18 months. "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 with enablers like Pedalstart by our side. We are hopeful about being a pillar to the green market revolution which India awaits," adds Desai.
