AGRIM, a B2B platform for agri-inputs, has raised $17.3 million in Series B funding led by Asia Impact, with participation from existing investors Kalaari, India Quotient, Omnivore, and Accion Venture Lab.

According to a company press release,the funds will be used to enhance technology, expand offerings, and grow operations to become a leading partner for agri-input retailers and manufacturers nationwide.

Previously, in February 2022, Kalaari led a $10 million Series A round for the Gurugram-based startup.

Founded in April 2020 by Mukul Garg and Avi Jain, AGRIM connects retailers directly with manufacturers, offering solutions in distribution, credit, logistics, and marketing across various agri-input categories, including seeds, fertilizers, crop protection, animal nutrition, and farm implements.

The platform currently provides over 30,000 SKUs from 1,200 manufacturers to 25,000 retailers, who serve and educate 15 million farmers.

AGRIM uses a pricing intelligence model to set product prices, taking a margin of 10% to 70%. According to TheKredible, the company’s operating revenue nearly doubled to Rs.157.36 crore in FY23 from Rs.64.6 crore in FY22, though losses increased by 64% to Rs.28 crore. Annual financial results for FY24 are still pending.

AGRIM’s $17.3 million funding is among the largest for agritech startups. In comparison, Arya.ag raised $29 million last month, and Superplum secured $15 million. Agritech funding has generally declined, with startups in the sector raising $150 million across over 30 deals as of August 30.

In a joint statement, founders Mukul Garg and Avi Jain expressed their thoughts on the funding by stating that they aim to establish AGRIM as the leading platform for agri-input retailers. They further added that with the newly acquired funds, they plan to heavily invest in advancing their technology and hiring skilled professionals who can offer revolutionary digital solutions for India's agri-inputs supply chain.