India has the second largest agricultural land in the world. About 60% of rural Indian households make their living from agriculture. The agro based industry saw a growth at a CAGR of 16.4% over FY10 to FY18. As of 2019, Indian Agriculture industry worth $39.1 Billion. With many initiatives for farmers, the government aims to double farmers' income by 2022. So we have compiled a list of Indian Agricultural startups that are making a name and increasing their growth in quick succession.
Agriculture sector in India is suffering from a variety of problems like the use of outdated equipment, improper infrastructure, and farmers unable to access a wider range of markets with ease while making just limited profits on crop sales. Proper infrastructure and supply chain management are the more pressing concerns. With improvement in areas of technology, digitization and startup culture growing rapidly, there are many new ones entering the Indian startup ecosystem. The agro based startups are providing information, techniques and efficiencies to farmers.
List of Successful Agritech Startups in India
Founded by Kamesh Mupparaju and Linus Lindgren in 2018, SFarmsIndia is an online web application with two core functions; listing and fraction trading. These two functions work together creating a great synergy. On the listing platform buyers can find/search agriculture lands and sellers can list/post the agriculture lands for sale/lease. On the other hand, SFarmsIndia's main USP is that it makes an agreement with the seller (agri-realty developer) to issue fractions by digital land contract against their lands. Each agriculture land is assigned with a digital contract and divided into 2000 fractions per acre, thereby enabling medium to small income groups to acquire lands easily. After owning the fraction, people can sell it directly through the trading platform.
Technology is the core of SFarmsIndias' business operations. Using technology, they intend to create an effective and efficient platform for agri-lands that can eliminate the middlemen who inflate the prices.
|Founders||Kamesh Mupparaju & Linus Lindgren|
Founded by Pravin Shinde and Vishnu Dhas, Khetigaadi.com is world’s first platform where one can buy, sell, rent, compare and review tractors and farm machinery, all with a simple click. It has been established to encourage farm mechanization and usage of technology and hi-tech products in agriculture to optimize yield in less man-hours.
Built on high-tech angular technology, agritech company Khetigaadi portal is as safe as an online banking portal. To make the platform user friendly for the farmers, Khetigaadi has made it available as an App in 10 languages and the company's website can be viewed in 3 different languages, English, Hindi and Marathi. The concept is techno-savvy and compatible with iOS as well as Android.
|Founders||Pravin Shinde and Vishnu Dhas|
Farm2Fam is a Mumbai based startup which grows microgreens which are free from pesticides, herbicides and chemicals and delivers it straightly to the customer’s doorstep. Farm2Fam aims to create awareness about the capacity of the human body to heal itself with natural nutrition. Their intention to use technology in combination with traditional Indian agricultural methods to grow niche nutritional products.
Farm2Fam was founded in January 2019 by Keya Salot. She is a law graduate and worked with reputed law firms prior to starting Farm2Fam.
Cofarm is a website that was founded by Prashant Jain and Varun Khurana in May 2016 and is an F2B i.e. Farm to Business venture. Their platform has over 10,000 farmers on their network and have also partnered with Reliance Retail, Big Basket, Grofers, Big Bazar, Jubilant Foodworks and Metro Foods. The startup generates revenue through commission. Starting from nearly 5% of the price in case of less perishables, like onions and potato, around 15% of the price of green vegetables, and 20-25% in case of fruits and exotics. They procure products that have a longer shelf life from national sourcing zones and other products from regional sourcing zones. This agriculture startup has raised $1.5 million in seed funding from investors like Mukul Singhal and Rohit Jain, former Principals at SAIF Partners.
|Founders||Varun Khurana, Prashant Jain|
|Investors||Vinay Mittal, Chief Strategy at HT Media; Ramit Sethi from Strongbox Ventures and other HNIs; Pravega Ventures, FactorE Ventures and Ashish Chand of Yukti Securities|
BOHECO – Bombay Hemp Company – is a Mumbai-based social enterprise founded in 2013 to research on and promote industrial hemp. Their operations range from research, cultivation, harvesting, processing, manufacturing, trading, wholesaling, retailing, innovating, creating a market for and promoting Indian industrial hemp both across the country and around the world.
Boheco uses public- private partnership, contractual farming and processing, subsidiaries and collaborative research models with the aim to build an industrial hemp ecosystem. Boheco is an agro-based startup that is reinventing the future of agriculture and sustainable living with hemp as their lens in India. The startup harnesses the power of agriculture by advocating industrial Hemp and its benefits to society. They give assistance to local farmers in cultivating their crops by providing optimum seeds, best practices in cultivation techniques and innovating the Agro-products. the company has raised a total funding of $92.5 million from investors including Ratan Tata and Ginni International.
|Agriculture Startup||Bombay Hemp Company|
|Founders||Avnish Pandya, Chirag Tekchandaney, Delzaad Deolaliwala, Jahan Peston Jamas, Sanvar Oberoi, Sumit Shah, Yash P. Kotak|
|Investors||Ratan Tata, chairman emeritus of Tata Sons and Rajan Anandan, Google India’s managing director, Sanvar Oberoi, the company’s co-founder, MA Tejani of Gits Food, Srinivaas Sirigeri of Shakti Group, Nikhil Velpanur, an angel investor, and Yash Kela of Singularity Ventures|
Aarav Unmanned Systems
Aarav Unmanned Systems is startup which is an unmanned aerial vehicle incubated at IIT Kanpur with a team of designers, developers, artists, and engineers from IIT Kanpur, IIT Bombay, IISC Bangalore & IIST. They aim to build the future of drones and their applications in the enterprise space. The company’s drones provides high-value engineering solutions to enterprises across geographic information system surveying/mapping, industrial inspection and precision agriculture. Thus, it holds the potential for making precision agriculture scalable in the nation, which is far behind in employing this type of technology. They provide accurate 3D representations of the terrain surface and it can transform and change the way decisions are made in agriculture through its solutions to optimize irrigation, fertilization, pesticide distribution and early failure warnings. The startup has raised an undisclosed amount in seed funding from StartupXseed ventures, the Phoenix Fund and other investors.
|Agriculture Startup||Aarav Unmanned Systems|
|Founders||Nikhil Upadhye, Suhas Banshiwala, Vipul Singh, Yeshwanth Reddy|
|Investors||BellWether Advisors, 500 Startups, 3one4 Capital, Sanjay Jesrani, StartupXseed Ventures, growX ventures, The Phoenix Fund|
Aibono is an agritech founded by IIT Madras graduate Vivek as Airwood Aerostructures, and rebranded as Aibono, which is a company that provides farming related intelligence, technology, expertise and gadgets to farmers. The startup advices farmers on the right amount of inputs to use for maximum yield. They began in the niche area of providing Farm Management-as-a-Service whereby, a farmer gets to outsource his entire measurement, production management and decision-making processes to a Service. The agritech company has helped in increasing yields by nearly 50% for about 140 farmers it works within the Nilgiri hills in Tamil Nadu. A precise day-to-day interventions to farmers is given by centrally managed Data Science and Recommendation Engines enabled by its data scientists and agronomists, which results in a 30 to 50% increase in yields. Aibono has raised total of $3.5M in funding over 6 rounds.
|Investors||Ashish Kacholia, a well-known stock market investor, along with participation from existing investors S Chand Group and others|
AgricxLab is a Thane-based online B2B platform founded by Ritesh Dhoot and Saurabh Kumar for connecting cold storage owners with bulk buyers for agri-products. They use smartphone imaging to assess the quality of Agri-produce through its mobile app which uses artificial intelligence and computer vision to on images to yield objective, accurate and faster quality assessment of agri-produce. Agricx offers solutions to warehouses and enterprise clients with a plan to expand across the food produce supply chain. The startup has raised a total funding of $500K from various investors, including Ankur Capital.
|Founders||Ritesh Dhoot, Saurabh Kumar|
|Investors||ANKUR CAPITAL, CENTRE FOR INNOVATION INCUBATION AND ENTREPRENEURSHIP|
Cropin is an agritech startup that integrates the agricultural sector with Information and Communication Technology by putting a network of ERP and BI i.e. Business Intelligence across rural India. Cropin is Full-Stack AgTech organization providing smart SaaS based solutions to agritech businesses globally. CropIn collaborates with the different value chain participants along the supply chain to monitor the farm produce status closely. They provide farm businesses a farm management software and mobile app, which enables them to do connected and data-driven farming. It allows farm businesses to take advantage of real-time data and insight from farms with the help of an accurate view of their operation throughout the growing season and to improve financial, operational and agronomy aspects. Cropin uses cutting-edge technologies, Big Data analytics, Artificial Intelligence, Geo-tagging & Satellite monitoring to revolutionize the agri-ecosystem.
|Investors||Chiratae Ventures, Bill & Melinda Gates Foundation|
FASAL is a Bengaluru-based agritech platform founded by Ananda Verma and Shailendra Tiwari in 2018 which is developed by Wolkus Technology Solutions and is an AI powered platform for agricultural ecosystem. It records a variety of growing conditions on the farm and then uses artificial intelligence and data science to make on-farm predictions, before delivering the insights anywhere on any device including Android, iOS, tablets and web. The startup has raised a total funding of $200K from names like Artesian VC, Zeroth.AL, Mistletoe and Mind Fund among others. Fasal currently has $310K in estimated revenue annually.
|Founders||Shailendra Tiwari and Ananda Verma|
|Investors||Mistletoe, Zeroth.AI, Mind Fund, Artesian VC|
Gold Farm is a Bangalore-based agritech company founded in 2012 which is based on mobile app to provide agriculture farm equipment through booking farm agents. This agri startup is founded by Coimbatore-based Abhilash Thirupathy. They provide solar water pumps for agriculturist farming in power shortfall regions in our country. Gold Farm provides an opportunity door to the farmers booking farm equipment through the call service and mobile application. Currently, Gold Farm runs over 250 booking agents and 500 tractor owners connected to their mobile app. They aim at enhancing the growth and sustainability of farmers by structuring productive ecosystems through innovation and technology. The startup has raised a total funding of $3 million.
|Agriculture Startup||Gold Farm|
|Investors||Mahindra Rise, Infuse Ventures, Intellecap|
Ninjacart is a Bangalore-based India’s largest B2B Fresh Produce Supply Chain Agri-marketing startup founded by Thirukumaran Nagaranjan in 2015. It currently moves more than 60 tonnes of produce a day from farm to store in less than 14 hours at a lower than traditional supply chains. Ninjacart helps more than 2,000 farmers to sell more than 80 vegetables and fruits every day to more than 800 retailers and restaurants in Bengaluru. They also claim to have wasted 4% wastage in the entire supply chain. The B2B agri-marketing platform has raised a total funding of $8.5 million from investors such as Accel Partners, Mistletoe, Qualcomm Ventures and M&S Partners among others.
|Founders||Ashutosh Vikram, Kartheeswaran K K, Sharath Loganathan, Thiru Nagarajan, Thirukumaran Nagarajan, Vasu Devan|
|Investors||HR Capital, Neoplux, Tiger Global Management, Trifecta Capital Partners, JO Hirao, Nandan Nilekani|
Waycool is India’s fastest growing food distribution company that has a network for 35,000 farmers across vegetables, fruits, rice, pulses and other food products. It was established in July 2015 with the aim of fixing the disorganized perishable supply chain. They have a retail presence, currently present in Chennai through the brand SunnyBee, operating retail stores, mobile stores on trucks, as well as e- commerce. They also have a large number of high quality private label products that SunnyBee produces and brands through partnerships with sister companies. The start-up has raised a total funding of $23.6 million. It is actively using 19 technologies for its website and has $2 million estimated revenue annually.
|Investors||LGT Impact Ventures, Caspian Impact Investments, Aspada, Northern Arc|
Intello Labs does quality assessment of food commodities using computer vision and AI. Intello Labs help food businesses like growers, traders, retailers, food service companies, exporters, etc. to improve their customer satisfaction and cut down losses. Intello Labs reports to be aggressively growing in India while also pursuing global markets, including the likes of China, Southeast Asia, and the USA. Some of Intello Labs’ larger clients include Reliance Fresh, Dole, Ocean Spray, and many of the leading e- grocery companies in China and Southeast Asia. Intello Labs raised $5.9 million, which is approximately Rs 45 crore, in Series A funding led by Saama Capital.
|Agriculture Startup||Intello Labs|
|Founders||Milan Sharma, Nishant Mishra, Himani Shah and Devendra Chandani|
|Investors||Indigram Labs, GenNext Venture, Nexus Venture Partners and Omnivore|
Also read: List of Edtech startups in India
So this was our list of agriculture companies in India. Hope this list helps you in having agritech business idea you can start with. If you know any great agriculture startup which we should feature, please mention it in the comment.