Pune-Based Agritech Startup ‘Agri10x’ Raises Seed Funding
Agri10x, a Pune-based agritech e-marketplace, has raised an undisclosed seed round from impact investor Omnivore.
As per the startup, it plans to use this funding to expand to eight more states, onboard one million farmers, and offer fintech solutions to its buyers through NBFC partnerships.
Agri10x also intends to ramp up its exports operations across the Middle East and Southeast Asian countries to open up potential new markets for Indian farmers.
Started by Pankajj Ghode, Sundeep Bose, and Abhijith Naraparaju in 2018, Agri10x is a blockchain and AI-enabled platform that connects farmers directly with traders and buyers and lets them sell their produce at competitive prices.
Talking about the funding, Pankajj Ghode, Co-founder and CEO of Agri10x, said,
“Indian farmers face huge challenges bringing their produce to market and often receive suboptimal pricing as a result. The platform we are building at Agri10x will address many of these challenges and help farmers improve their incomes substantially. We are excited to partner with Omnivore as we streamline agricultural value chains across India while supporting farmers.”
Currently operating in the states of Maharashtra, Bihar, Uttar Pradesh, and Gujarat, the agritech startup offers 360-degree agricultural solutions, ranging from pre-harvest to post-harvest.
And for the seamless delivery of e-governance services, Agri10x is working closely with the Government of India’s Common Service Centres (CSC), a network of access points across rural India.
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