AgroStar raises USD 70 million from investors for expansion

Agritech startup AgroStar has raised USD 70 million (around Rs 527 crore) from Evolvence, Schroders Capital, Hero Enterprise and UK’s development finance institution CDC to expand its business across India and future growth, its founder and CEO Shardul Sheth said on Tuesday.

The round also saw participation from existing investors Aavishkaar Capital, Accel, Bertelsmann, Chiratae Ventures, and Rabo Frontier Ventures.

''We have raised USD 70 million in Series D funding round from new as well as existing investors,'' Sheth told PTI.

He declined to share the valuation at which the fund has been raised.

Pune-based AgroStar, which was founded in 2013 by Sitanshu Sheth and Shardul Sheth, provides real time farm advisory free of cost through its tech platform to farmers across India.

It also provides agri-inputs to farmers across Gujarat, Rajasthan, Maharashtra, Madhya Pradesh and Uttar Pradesh through its 1,000 franchisee stores as well as delivery partners in rural centres.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)