AgroStar, a mobile commerce firm that sells agricultural inputs directly to farmers, has received USD 4 million, or Rs 26 crore, funding from IDG Ventures India and existing investor, Aavishkaar.
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.
Pune-headquartered AgroStar has built a 'direct-to-farmer' m-commerce platform through which farmers can procure agri-inputs needed by giving a missed call on the company's 1800 number.
