In its Series B funding round, which was spearheaded by Asia Impact and included participation from current investors Kalaari, India Quotient, Omnivore, and Accion Venture Lab, AGRIM, a B2B platform for agri-inputs, has raised $17.3 million.
According to a press release from the company, AGRIM plans to use the money to improve its technology, broaden its product line, and grow its business in order to become the go-to supplier for manufacturers and agri-input retailers all over the nation.
AGRIM, which was founded in April 2020 by Avi Jain and Mukul Garg, offers solutions for marketing, distribution, credit, and logistics while putting retailers in direct contact with manufacturers. It functions in a number of agri-input categories, such as farm tools, seeds, fertiliser, crop protection, and animal nutrition.
Currently, the platform serves and informs 15 million farmers by providing more than 30,000 SKUs from 1,200 manufacturers to 25,000 retailers.
AGRIM uses a pricing intelligence model to determine the right prices for goods from manufacturers, keeping a 10% to 70% margin for itself.
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