Bull Agritech Secures Funding to Boost Agri-Supply Chain Efficiency

Bull Agritech
Preeti Bali / 10:12 am / March 21, 2024

Bull Agritech, a young company aiming to revolutionize the agricultural supply chain in India, has secured $100,000 in a recent funding round. The investment was led by prominent figures including Akassh Patel and Nilesh Bhalala, the founders of BuilditIndia, and Shashin Patel, the Managing Director of SCC Infrastructure.

Emerging Startup Aims to Empower Farmers with Technology

This injection of capital will propel Bull Agritech’s ambitious growth plans. The company intends to utilize the funds to expand its footprint into new regions, significantly increase the number of collection centres it operates, and diversify the range of commodities it handles. Notably, the expansion goes beyond geographical reach and emphasizes the deeper integration of technology within their agri-supply chain management system.

Hit Desai, Founder of Bull Agritech, Shares Vision

“This funding arrives at a critical juncture for our strategic growth,” remarked Hit Desai, Bull Agritech’s founder. “The funds will be strategically deployed to enter new territories, establish more collection points, and broaden the spectrum of commodities we manage. We will also invest in building scalable internal technology for efficient data analysis and recruit top talent to drive operational excellence and innovation.”

Desai emphasized the inefficiencies plaguing the current non-perishable agricultural trade system, highlighting the financial losses incurred by farmers. “We firmly believe that social technology is the key to unlocking a new era of market access, effective price discovery, and logistical efficiency, ultimately benefiting farmers directly,” he added.

Bull Agritech’s Mission and Achievements

Established by Hit Desai and Divyajeetsinh Chauhan, Bull Agritech aspires to become India’s leading commodity supply chain network by leveraging cutting-edge technology and fostering a robust network of farmers and processors.

The startup is dedicated to streamlining the non-perishable agri-trade system, which is currently marred by inefficiencies that erode farmers’ profits. By incorporating social technology, Bull Agritech aims to create new avenues for market access, price discovery, and logistical efficiency, directly empowering the farming community.

Bull Agritech’s Growth Trajectory

Bull Agritech boasts of facilitating trades worth Rs 35 crore in the past two years. The company reports that over 6,000 farmers have opted for their services over traditional local Agricultural Produce Market Committees (APMCs) to sell their crops.

They also claim to have achieved a staggering 200% year-on-year growth and aim to maintain a monthly growth rate of 25%. Additionally, Bull Agritech is actively exploring opportunities to provide farmer financing solutions, addressing the financial constraints faced by the agricultural sector.

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