Agritech startup Agrix gets capital infusion from Lead Angels Network - Hindustan Times
close_game
close_game

Agritech startup Agrix gets capital infusion from Lead Angels Network

By, Hindustan Times, New Delhi
Dec 06, 2021 05:53 PM IST

Agrix said it takes an integrated approach to engage and empower the small and marginal farmers. The company said it also involves and empowers the farmers across the agri-value chain.

Agrix Agrotech on Monday said it has received growth capital from Lead Angels Network and will use the fund to support business growth and scale existing operations. The agricultural technology startup said in a release it will also use the capital to firm up technology platforms, farmer engagement and build brand awareness.

The agricultural technology startup said in a release it will also use the capital to firm up technology platforms, farmer engagement and build brand awareness.(Agrix)
The agricultural technology startup said in a release it will also use the capital to firm up technology platforms, farmer engagement and build brand awareness.(Agrix)

“The investment will enable Agrix to further strengthen its position among the farmers. With this investment we will be able to increase our coverage to more than 20,000 acres of fragmented farms providing farming services (machinery and inputs) and market linkages and adding sophisticated technology with further scale up,” Agrix founder and CEO Nilay Pandey.

Hindustan Times - your fastest source for breaking news! Read now.

Agrix said it takes an integrated approach to engage and empower the small and marginal farmers. The company said it also involves and empowers the farmers across the agri-value chain.

“Clustering allows small farmers to access best farming practices despite the scale disadvantage. This has enabled a fragmented 1 to 2 acre farmer to deploy combined harvesters, tractors, rotavators and various agri implements at affordable cost, using best quality agri inputs thereby improving yield, quality, timely harvest and best realizations. The business model has solid unit economics and good profitability,” the company said.

“The agritech sector, though a slow starter, is expected to churn out a couple of unicorns within the next 18 months. Current market provides ample room for enhancing efficiencies across mechanisation of farms, supply chain, market linkages among others,” Sushanto Mitra, the founder and CEO of Lead Angels Network, said.

“Agrix is clearly operating in some of the white spaces that provide interesting investment opportunities for early stage investing,” Mitra added.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On