Through the systematic application of scientific farming techniques, BharatAgri provides farmers with a mobile app-based platform for AI-based agronomy services.
BharatAgri provides farmers with an app-based platform that provides Agronomy using AI through a monthly subscription that increases the income of farmers by systematically implementing agricultural techniques that are scientifically proven.
Digital farm advisory startup, BharatAgri was able to raise US$6.5 million in an investment round in Series A that was led by Omnivore as well as the participation of the existing investor Indira Quotient along with 021 Capital. BharatAgri provides farmers with an app-based platform that provides artificial intelligence (AI) based agricultural services on a subscription basis. It helps farmers increase their incomes by systematically implementing farming practices that are scientifically proven.
Traditional farming practices do not adapt to changing climate conditions, diminishing natural resources, or the optimal use of costly inputs to crops. BharatAgri’s algorithm is a proprietary one that collects data on over 30 vital parameters in order to provide specific advice for a variety of crops, such as pulses, grains fruit, vegetables, and pulses. Farmers can avail a completely automated and digital service for a reasonable cost and provides specific insights at the appropriate time, as well as regular monitoring of the crops.
In the last twelve months, BharatAgri has experienced 20x growth in subscription sales with a 65 per cent renewal rate. BharatAgri currently has more than 33,000 paid subscribers and plans to increase its subscriber base to 150,000 by the end of March 2022. The farmers who use the platform is divided between those who cultivate the horticulture crop and those who cultivate food grains and cereals. Farmers pay about US$8.00 (INR 600) per acres for a subscription for six months.
The company is headquartered within Bangalore, BharatAgri was founded in 2017 by Sai Gole and Siddharth Dialani both of whom graduated from IIT Madras. The company plans to utilize the funds from Series A to increase its customer base over Maharashtra as well as Madhya Pradesh, accelerate the expansion of its marketplace for inputs and improve its technology offerings. BharatAgri intends to rapidly scale up during its Rabi 2021 season and will launch its Series B round in the month of January 2022.
SiddharthDialani, Co-Founder and CEO, BharatAgri, said, “Even three years ago, it was unimaginable that rural Indians would be paying monthly subscription fees to Netflix and YouTube, which is normal today. BharatAgri has demonstrated that the same is possible with farmers, who see so much value in our advisory platform that they willingly pay subscription fees. In the next few months, we will be expanding our platform to provide other agricultural services, starting with direct-to-farmer agri input supply.”
Mark Kahn, the Managing Partner of Omnivore stated, “BharatAgri is the only agritech start-up in India to successfully monetise a purely digital product for farmers. Making agronomy services widely accessible at an affordable price can help make the dream of doubling farmers’ incomes a reality.”
Madhukar Sinha, General Partner at India Quotient stated, “BharatAgri is building a trust-based platform where farmers are engaging meaningfully with their services. We have observed in rural areas and specifically in agriculture that farmers like to fulfil all their needs from a single place, which is currently an inputs retailer. BharatAgri has the potential to replicate the same on a digital platform and tens of thousands of farmers have already adopted it.”
