Agrim Wholesale, an agritech firm, raised $10 million in a Series A round led by Kalaari Capital, with current investors Omnivore, India Quotient, and Accion Venture Labs joining in. As part of their Bharat Banking effort, Axis Bank also participated in the round.
AGRIM is a digital platform for the agri-inputs business that connects merchants directly with producers and provides all stakeholders with solutions for distribution, credit, logistics, and marketing. It was founded in 2020 by Mukul Garg and Avi Jain.
The Gurugram-based business intends to use the funds to hire more employees, develop embedded financial products, and expand its operations.
Mukul Garg, Co-founder and CEO of AGRIM, said, “In the last 15 months, we have achieved product-market fit. This investment will help us expand exponentially into new categories and geographies. Given the unit-level profitability, most funds will be used to bring rock stars onboard and launch embedded fintech services for our retailers.”