Agritech startup AgroStar has raised USD 70 million (around Rs 527 crore) from Evolvence, Schroders Capital, Hero Enterprise and UK’s development finance institution CDC to expand its business across India and future growth, its founder and CEO Shardul Seth said on Tuesday.
The round also saw participation from existing investors Aavishkaar Capital, Accel, Bertelsmann, Chiratae Ventures, and Rabo Frontier Ventures.
“We have raised USD 70 million in Series D funding round from new as well as existing investors,” Seth told PTI.
He declined to share the valuation at which the fund has been raised.
Pune-based AgroStar, which was founded in 2013 by Sitanshu Sheth and Shardul Sheth, provides real time farm advisory free of cost through its tech platform to farmers across India.
It also provides agri-inputs to farmers across Gujarat, Rajasthan, Maharashtra, Madhya Pradesh and Uttar Pradesh through its 1,000 franchisee stores as well as delivery partners in rural centres.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Dear Reader,Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
Credit: Source link
