- Funds Allocated for Expansion, Technology Development, and Talent Acquisition
Ahmedabad, March 20, 2024: Bull AgriTech, a pioneering agri-supply chain startup, announced today the successful closure of a $100k funding round led by prominent infrastructure leaders including Mr. Akassh Patel and Nilesh Bhalala, Founders of BuilditIndia, and Mr. Shashin Patel, Managing Director of SCC Infrastructure, among others. This funding round marks a total raise of 1.5 CR in the last 4 months as part of the pre-seed round. Bull Agritech is committed to revolutionizing India’s commodity supply chain through technology and its extensive network of farmers and commodity processors.
Mr. Hit Desai, Founder of Bull Agritech, expressed his enthusiasm, stating, “This funding arrives at a pivotal moment as we embark on a strategic growth trajectory. Our focus is on expanding into new regions, doubling the number of collection centers, and diversifying our commodity portfolio. Additionally, we plan to develop scalable internal technology for efficient data analysis and onboard top-tier talent to drive operational excellence and innovation. The current agricultural trade system is outdated and inefficient, resulting in significant income loss for farmers. We believe that leveraging social technology is crucial to ushering in a new era of market access, price discovery, and logistical efficiency, ultimately benefiting farmers.”
Mr. Akassh Patel, CEO of BuilditIndia, echoed these sentiments, praising Bull Agritech’s innovative approach and remarkable vision for revolutionizing the agricultural supply chain. He stated, “Bull Agritech has distinguished itself with its forward-thinking strategies and exceptional vision. We are impressed by the dedication and ambition of the founders, whose innovative model for oil seeds has garnered widespread acclaim.”
Bull AgriTech has facilitated trades worth 35 crores in the last 24 months, with over 6000 farmers opting to sell their crops through Bull instead of traditional local APMCs. With an impressive 200% year-on-year growth, the company is committed to sustaining a 25% month-on-month growth rate. Additionally, Bull AgriTech aims to provide innovative farmer financing solutions to address the needs of underserved agricultural communities.
