New Delhi: Agri-tech Company Bull Agritech has raised $100K (INR 8 Million) in a pre-seed funding round led by startup accelerator PedalStart. Bull Agritech has been part of PedalStart’s current cohort, One-to-N, which is backed by leading Venture Capital funds from the ecosystem.
The company plans to use funds for the growth of the company and accelerate the operations along with building the team, Bull Agritech said in a press release -founded in 2021 by Hit Desai and Divyajeet Chauhan, Bull Agritech connects farmers directly to agri-commodity processors providing end-to-end supply chain solutions, in a highly fragmented non-perishable agri-supply chain market. The way Bull has gained traction amongst the farmers has been the reason behind the buzz in the Agritech space. The startup is based out of a tier 3 region in the North Gujarat region and is working to enable the breadmakers of the nation. The initiative by Bull Agritech is going to be a boon for the agriculture sector of the nation.
Manas Pal and Aditya Darolia, Co-founders at PedalStart, commented, “One-to-N has been a cohort that has set a benchmark for us as well. Out of 9 startups which have been selected had raised their first round, and here we came up to upscale their journey to level two. Bull Agritech has been the first success, and counting on more coming up.
With a mission to revolutionize the non-perishable agri-trade market and empower farmers through transparent and efficient market connectivity, Bull Agritech has already facilitated trades worth INR 25 Crores and onboarded 15000 farmers digitally, illustrating their rapid growth and impact in just 18 months. Co-founders Hit Desai and Divyajeet Chauhan’s vision, rooted in the principles of transparency and trust-building, resonates deeply with the agricultural community, promising a brighter future for India’s agricultural landscape.
Hit Desai, Co-founder at Bull Agritech, said, “We see a huge opportunity in the non-perishable agri-trade market as the farmers have been left with a 100-year-old monopoly that is APMC which lacks market connectivity, transparency, and efficiency. It is a known fact that the intermediaries use this monopoly to manipulate the market, which results in farmers’ loss. There has been no brand in the output linkage space which is widely trusted by farmers at scale when it comes to selling their crops. We come from North Gujarat, the land of the white revolution and the cooperative movement, which created the brand AMUL in the rural as well as urban market, and with enablers like Pedalstart by our side. We are hopeful about being a pillar to the green market revolution which India awaits”.
Adding to that, Aditya mentions the journey with the Bull’s team. He said, “After interacting with APMC players, we realised how traditional players are misusing their monopsony, and farmers are not getting clarity about the prices they get for the quality of stock. We saw the potential in the business, and the way the founders have been executing was impressive when we visited their centres in North Gujarat”.
Bull Agritech’s recent success in securing $100K (INR 8 Million) pre-seed funding led by PedalStart speaks volumes about the company’s strong potential and the agricultural sector’s growing interest in disruptive technologies. With PedalStart’s unwavering support and expertise, Bull Agritech is well-positioned to become a driving force in the long-awaited green market revolution, ushering in a new era of equitable and sustainable agricultural practices for the nation.
About PedalStart:
PedalStart is a platform that solves a single major problem statement of the ecosystem: building startup founders. The platform helps build founders through their startup ideas with the help of ex-entrepreneurs, successful startup founders, domain experts, and angel investors. The team at PedalStart uses real-life experiences over traditional theoretical knowledge to build startup founders. With more than 10,000+ startups, 300+ mentors, 800+ founders building ideas, and 1200+ house discussions, PedalStart has been transforming big ideas into high-potential businesses since 2021.