Description
Agrix focuses on farming-as-a-service (covering farm machinery and Agri input services) and provides market linkages, especially for fragmented farm owners.
Founded in June 2020 by Nilay Pandey, Saurav Singh, and Vivek Kumar, hail from farming families in Bihar. Nilay has a PhD from IIT-Delhi, and his co-founders Saurav and Vivek, are computer engineers.
More than 85% of the farmers in India are small and marginal farmers. Due to the scale disadvantage, they suffer from poor farm mechanization, unorganized agri-inputs supply chain, and unreliable off-take. Clustering allows small farmers to access the best farming practices and resources and eventually become as competitive as the big farmers despite the scale disadvantage.
Agrix plans to use the funds to scale existing operations and further strengthen its operations and technology platform.
At present, the startup covers over 4,000+ acres, catering to 4,000-plus farmers in more than 25 villages in Bihar.
Details of the current round
The company is looking to raise 2 cr from Lead Angels Network for the 15 months runway through CCPS. The pre-money valuation for the current round is INR 9.42 cr.
The minimum commitment to the company is INR 5 Lakhs. In case commitments exceed the ask amount, allotment will be on the “First Come, First Serve” basis.
