AgroStar raises $4 mn from IDG Ventures India & others

The m-commerce company also counts Snapdeal's Kunal Bhal and Rohit Bansal among its early backers and mentors

m-Commerce portal for farmers AgroStar raised $4 million from IDG Ventures along with existing investor Aavishkaar who also participated in this round. The company also counts Snapdeal's Kunal Bhal and Rohit Bansal as its early backers and mentors.

The company is co-founded by Sitanshu Sheth and Shardul Sheth both promoters having extensive experience across domains like consulting and retail.

AgroStar has partnered with multiple national and multinational brands whose agro products can be bought through AgroStar. Farmers can buy seeds, nutrients, crop protection, as well as hardware products from the AgroStar platform.

The company plans to expand operations from Gujarat and Maharashtra to 3-4 additional states over the next 12 months and strengthen its tech and leadership teams.

T C Meenakshisundaram, founder & managing director, IDG Ventures India said: "It is just the beginning of what an agricultural m-commerce platform can achieve, in a mobile-first nation. Their success in Gujarat is a testimony and validity of the idea, and we look forward to AgroStar replicating this change nationally. Having funded many vertical e-commerce leaders in early stage we believe AgroStar has the potential to be the disruptor and the leader in the Agricultural m-commerce vertical with a $ 200 billion market opportunity."

Shardul Sheth, CEO & Co Founder, AgroStar said that farmers in rural India face significant challenges at every point from buying agri-inputs to selling their produce.

"Our m-commerce platform is attempting to enhance and simplify the agri-business experience for farmers. We are fortunate to partner with and leverage the deep experience of investors like IDG Ventures and Aavishkaar on this endeavor."