Bull Agritech, an agri-supply chain startup, has secured $100,000 in a new funding round from Akassh Patel and Nilesh Bhalala (BuilditIndia founders), Shashin Patel (SCC Infrastructure, MD), and others.
The company has secured a total of INR 1.5 crore in the last four months as part of the pre-seed round.
Established by Hit Desai, Bull Agritech is an agri-supply chain startup focused on creating a commodity supply chain by using technology and their network of farmers and commodity processors.
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The newly acquired funds will be utilized by Bull Agritech to expand into new regions, double the number of collection centers, and broaden commodity portfolios. Additionally, the company aims to onboard talent to drive operational efficiency and innovation.
Speaking on the occasion, Hit Desai, Founder, Bull Agritech, said, “The funding comes at a time when we are poised for strategic growth. We will be deploying the funds to expand into new regions, double the number of collection centers and broaden commodity portfolio. We will build scalable internal technology for efficient data analysis and onboard top-tier talent to drive operational efficiency and innovation. The current non-perishable agri-trade system is inefficient and outdated, costing farmers valuable income. We believe social technology holds the key to unlocking a new era of market access, price discovery, and logistical efficiency, directly benefiting farmers.”
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Reinforcing these views and elaborating on Bull AgriTech’s approach, Mr Akassh Patel, CEO, BuilditIndia, said, “Bull Agritech has distinguished itself with its forward-thinking approach and exceptional vision for transforming the agricultural supply chain. We are deeply impressed by the dedication and ambition demonstrated by the founders, whose innovative model for oil seeds has already garnered significant acclaim.”
In the last 24 months, Bull AgriTech has facilitated trades worth 35 crores, with over 6000 farmers opting to sell their crops through Bull rather than relying on local APMCs. Demonstrating an impressive 200% year-on-year growth, the company is committed to sustaining a 25% month-on-month growth rate. Additionally, Bull AgriTech is exploring opportunities in less penetrated farmer financing solutions.