The company, which counts Snapdeal co-founders Kunal Bahl and Rohit Bansal as its early backers, plans to expand operations from Gujarat and Maharashtra to three-four more states over the next 12 months, said a statement today.
It also plans to use the funds to strengthen its tech and leadership teams, it added.
"Having funded many vertical e-commerce leaders in early stage, we believe AgroStar has the potential to be the disruptor and the leader in the agricultural m-commerce vertical with a USD 200 billion market opportunity," IDG Ventures India founder and MD T C Meenakshisundaram said.
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