“We are a full stack platform for agri-businesses, and as far as new technological developments go agricultural market Concerned, every week we add features to our app to provide value and better customer convenience.” Amit Agarwal, who is also the chief executive of the company, said. “We are advising farmers and connecting them to the market.”
The agritech startup is using satellite imagery for crop identification and estimation, and remote sensing to provide farmers with information about climate-based farming patterns. “Nowadays it is raining very late, so the method of sowing has changed,” Agarwal said.
Established in 2016, AgriBazaar provides technology-enabled, future-ready solutions to the farming community and is revolutionizing the way post-harvest management services are processed across the country. The full-stack, bootstrapped agritech startup has reimagined the physical mandi as an e-mandi: A farmer registers and uploads his produce to the platform and the buyer then places an order for purchase. Once the deal is completed, AgriBazaar facilitates logistics to pick up the grain from the farmers and transport it to the godowns of the buyers.
The company currently serves seven lakh farmers and over 35,000 users, buyers and processors on the platform. Aggarwal said the target is to reach at least 3 million farmers in the next 24 months through an aggressive customer acquisition strategy. AgriBazaar also has a payment platform called AgriPay which takes care of the bills and ledger accounts of the farmers.
“It’s a completely unorganized, untapped sector,” he said. “Today, a lot of people are involved in agriculture, but there is no technological intervention in this sector. Internet is everywhere now and this is the biggest force which is driving innovation in agriculture sectors. So many players are coming And they are ‘providing farmers with better technological solutions to increase their profitability and productivity.
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According to the company, it has facilitated transactions worth Rs 14,000 crore since inception and has connected around 10,000 traders and processors, over 100 Farmer Producer Organizations (FPOs). Over 1.5 million tonnes of items are stored in over 700 warehouses, both owned and managed by the brand.
Aggarwal said that the gross transaction value of AgriBazaar has increased by almost 400% as compared to a year ago. To meet the growing demand, the company has increased hiring.
“Last year we had added around 100 people and we will hire around 100-150 more by the end of this financial year,” Agarwal said. “To be the biggest innovation marketplace and connect farmers across the board. Initially it was a challenge, but now it is not more challenging. Their trust in the platform, and execution and winning business through digital mandi is a big innovation in itself. The moment.”