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Funds to be deployed for expanding into new regions & hiring Top-tier talent
Building scalable internal tech for efficient data-analysis
To double the number of collection centers & broaden commodity portfolio
Ahmedabad, March 20, 2024: Agri-Supply Chain startup Bull AgriTech today announced that it has raised $ 100k funding from leading infrastructure luminaries, led by Mr Akassh Patel & Nilesh Bhalala (Founders, BuilditIndia), Mr Shashin Patel (MD, SCC Infrastructure) & others. The company has raised a total of 1.5 CR in the last 4 months as part of the pre-seed round. Bull Agritech is an agri-supply chain startup focussed on creating India’s largest commodity supply chain by leveraging technology and their network of farmers & commodity processors.
Speaking on the occasion, Mr Hit Desai – Founder, Bull Agritech, said, “The funding comes at a time when we are poised for strategic growth. We will be deploying the funds to expand into new regions, double the number of collection centers and broaden commodity portfolio. We will build scalable internal technology for efficient data analysis and onboard top-tier talent to drive operational efficiency and innovation. The current non-perishable agri-trade system is inefficient and outdated, costing farmers valuable income. We believe social technology holds the key to unlocking a new era of market access, price discovery, and logistical efficiency, directly benefiting farmers.”
Reinforcing these views and elaborating on Bull AgriTech’s approach, Mr Akassh Patel, CEO, BuilditIndia, “Bull Agritech has distinguished itself with its forward-thinking approach and exceptional vision for transforming the agricultural supply chain. We are deeply impressed by the dedication and ambition demonstrated by the founders, whose innovative model for oil seeds has already garnered significant acclaim.”
Bull AgriTech has facilitated trades worth 35 crores in the last 24 months, with over 6000 farmers choosing to sell their crops through Bull instead of relying on local APMCs. Having reported an impressive 200% year-on-year growth, they are committed to sustaining 25% month-on-month growth. The company is also looking to tap into a less penetrated farmer financing solution.