Bull Agritech Raises $100K to Empower Farmers and Disrupt 100-Year-Old APMC Monopoly
Bull Agritech, an agritech firm, has made headlines by securing $100K (INR 8 Million) in a pre-seed funding round led by startup accelerator PedalStart.
As per the startup, the freshly raised funds will be used for growth and accelerate the operations along with building the team.
The agritech startup has been part of PedalStart’s current cohort, One-to-N, which is backed by leading Venture Capital funds from the startup ecosystem.
Bull Agritech | Revolutionizing the Non-perishable Produce Supply Chain
Co-founded by Hit Desai and Divyajeet Chauhan in 2021, Bull Agritech is an agritech startup that sources quality-assured non-perishable commodities directly to the processing factories.
Based out of a tier 3 region in the North Gujarat region, the startup connects farmers directly to agri-commodity processors and provides end-to-end supply chain solutions in a highly fragmented, non-perishable agri-supply chain market.
Speaking about the development, Hit Desai, Co-founder at Bull Agritech, highlighted the huge opportunity in the non-perishable agri-trade market. He stated, that in the current system, the farmers have to deal with a 100-year-old monopoly of APMC (Agricultural Produce & Livestock Market Committee), which lacks market connectivity, transparency, and efficiency. Also, intermediaries use this monopoly to manipulate the market, resulting in loss to farmers, Desai stated.
Desai, while highlighting the fact that there has been no brand in the output linkage space that farmers trust at scale when it comes to selling their crop, added,
“With enablers like Pedalstart by our side, we are hopeful about being a pillar to the green market revolution which India awaits.”
The startup aims to connect farmers directly to the factories to conduct the trade by facilitating everything in between, including logistics, quality assessment, and payment protection.
Statement from the Investors
Commenting on the development, Manas Pal and Aditya Darolia, Co-founders at PedalStart, stated that One-to-N, PedalStart’s current cohort, has been a cohort that has set a benchmark for them.
“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.”
Empowering farmers through transparent and efficient market connectivity, the agritech startup claims to have facilitated trades worth over Rs 25 crore and onboarded 15,000+ farmers digitally, underscoring the rapid growth and impact the startup has made in just 18 months.
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