Bengaluru-based agritech startup BigHaat has raised $2 million in pre-series A funding round. Japanese investor Beyond Next Ventures led this funding round. Rockstud Capital, BigHaat’s existing investor Ankur Capital, and few other angel investors also participated in this round.
BigHaat intends to use this capital to strengthen its data and technology platform as it aims to engage over 10 million farmers across India in the next two years. Additionally, they will use this funding to scale up its marketing and technology team, and strengthen its supply chain.
Founded in 2015 by by Sateesh Nukala and Sachin Nandwana, BigHaat is India’s largest Agri Inputs Marketplace Platform providing wide choice of quality inputs to farmers. It’s an e-commerce platform delivering quality agricultural products to the farmers at their doorstep. BigHaat claims to be the only agritech startup that digitally acquires and engages farmer-customers.
BigHaat has engaged with over three million farmers providing access to advisory and farm inputs such as seeds, fertilisers, chemicals, instruments and accessories. They also offer vernacular advisory for rural users in multiple regional languages. Their main aim is to make use of technology and address the gap in the traditional agri-inputs supply chain.
Agriculture is one of the largest contributor to India’s GDP. Though e-commerce has found its way into the life of Indian consumers, the same cannot be said about agriculture. BigHaat’s offerings are definitely on the right path, ensuring easy access of agricultural products to the farmers. Providing advisory in vernacular languages is also a great way to help the farmers with their issues.
The biggest challenge for BigHaat could be digital adoption among the farmers. Sachin Nandwana, co-founder BigHaat believes that in the next 2-3 years every family will have a smartphone. This could prove to be a game changer for them since more farmers will have access to digital technology. Thus, this will accelerate their adoption of digital technology and allow BigHaat to leverage the large market opportunity in the agricultural sector.