Agritech startup BharatAgri on Thursday said it has raised $6.5 million (about Rs 47 crore) from investors to expand its business.
The company has raised $6.5 million in a Series A round led by Omnivore, with participation from existing investors India Quotient and 021 Capital, BharatAgri said in a statement.
It offers farmers an app-based platform for AI-based agronomy services on a paid subscription basis.
BharatAgri currently has over 33,000 active paid users and aims to expand its subscription base to 1,50,000 by March 2022. On average, farmers pay Rs 600 per acre for a six-month subscription.
Based in Bengaluru, BharatAgri was founded in 2017 by Sai Gole and Siddharth Dialani, both alumni of IIT Madras.
"The startup intends to use this Series A funding to expand its subscriber base beyond Maharashtra and Madhya Pradesh, accelerate the growth of its inputs marketplace, and refine the existing technology offering," the statement said.
BharatAgri plans to aggressively scale up in the Rabi 2021 season and launch its Series B round in January 2022