This influx of fresh capital will propel the start-up into an aggressive expansion and recruitment phase, focusing on bolstering its technological and business capabilities
Bull Agritech, the innovative agritech supply chain start-up, has successfully raised a substantial pre-seed investment of Rs 80 lakh in funding. Pedalstart, a leading player in the agritech sector, spearheaded the funding round and saw participation from esteemed names within the Indian agritech industry. Notably, Bull Agritech has accumulated investments exceeding 1 crores this year alone.
Established in 2021 by founders Hit Desai and Divyajeet Chauhan, Bull Agritech is revolutionising the agricultural supply chain by forging direct connections between farmers and agri-commodity processors. In a highly fragmented, non-perishable agri-supply chain market, Bull Agritech provides end-to-end supply chain solutions, making waves within the agritech space.
Traditionally, farmers in India encounter numerous challenges, including payment insecurity, logistical hurdles, and limited market access. These issues often lead to lengthy intermediary chains that erode farmers' profits. Bull Agritech, however, offers an integrated platform that manages technology, logistics, quality assessment, and payment security. This streamlines connections between farmers and processors, empowering farmers while enhancing efficiency in the supply chain.
"Bull has facilitated trades worth 25 crores in the last 18 months, with over 5000 farmers choosing to sell their crops through Bull instead of relying on local APMCs. We have reported an impressive 200% year-on-year growth, and we are committed to sustaining 25% month-on-month growth," stated the company.
"We see a tremendous opportunity in the non-perishable agri-trade market, as farmers have long been ensnared in a century-old monopoly represented by the APMC. This monopoly lacks market connectivity, transparency, and efficiency, often leading to losses for farmers," explained Hit Desai, co-founder of Bull Agritech.
"There has been no trusted brand at scale in the output linkage space for farmers to rely on when selling their crops. Hailing from North Gujarat, the birthplace of the white revolution and cooperative movement that brought us the iconic AMUL brand, we aspire to be a cornerstone in India's green market revolution," he added.
"Many players have ventured into the agri-output marketplace, but the way Bull Agritech has delved deeply into select commodities and woven an ESG (Environmental, Social, and Governance) narrative with basic economics is truly commendable," commented Ramakrishnan M, director at Zetta Farms and an angel investor. "I am highly optimistic about the founders and this business model."
Bull AgriTech’s recent funding success not only cements its position as a key player in the Indian agritech sector but also underscores its commitment to transforming the agricultural landscape for the better. With their innovative approach and resounding success, Bull Agritech is poised to be a driving force behind India's agricultural revolution.