Agricultural equipment startup Balwaan Krishi has raised Rs 100 crore in a Sequence B funding spherical led by First Bridge India Progress Fund Non-public Fairness, because it seems to be to broaden manufacturing, distribution and product growth.

The spherical additionally noticed participation from different institutional investors, whose names weren’t disclosed. Investment banking agency Proper Pillar Advisors suggested on the transaction.

The Jaipur-based startup mentioned it would use the recent capital to broaden home manufacturing capability, strengthen its vendor and repair community in Southern India, and develop farm tools with predictive upkeep and IoT capabilities.

Increasing manufacturing and distribution

Balwaan mentioned a good portion of the funding can be used to extend its manufacturing capabilities in India, giving it higher management over product high quality, provide chains and availability whereas decreasing its dependence on imported equipment and elements.

It additionally plans to extend product availability and after-sales help throughout agricultural markets in Southern India.

The startup follows a hybrid B2B and B2C distribution mannequin. In line with its Sequence B announcement, it has greater than 800 sellers throughout Northern India, alongside an e-commerce presence.

Balwaan mentioned greater than 4 lakh farmers at the moment use its tools. 

Its product portfolio consists of energy weeders, sprayers and different agricultural equipment geared toward smaller farms.

The brand new funding will even help the event of apparatus with predictive upkeep and IoT capabilities, together with energy weeders, battery sprayers and different mechanisation merchandise.

Concentrate on small and marginal farms

Based in 2016 by brothers Rohit Bajaj and Shubham Bajaj, Balwaan Krishi develops agricultural equipment designed for Indian farming situations.

Small and marginal farms make up a big a part of India’s agricultural panorama. In line with the Agriculture Census 2015-16, small and marginal operational holdings of lower than two hectares accounted for 86.08% of the nation’s complete operational holdings.

Balwaan is focusing on this phase with comparatively low-cost farm tools, positioning smaller equipment as a substitute for farmers for whom bigger tools will not be economically appropriate.

“India’s small and marginal farmers are more and more going through rising labour prices and strain to enhance productiveness, but entry to reasonably priced mechanisation stays restricted,” co-founder and CEO Rohit Bajaj mentioned.

He added that greater than 4 lakh farmers already use Balwaan machines and mentioned the newest funding will permit the corporate to strengthen manufacturing, broaden its attain and proceed creating merchandise for Indian farming situations.

Earlier funding

The Sequence B follows a Rs 40 crore funding from JM Monetary Non-public Fairness in June 2024 as a part of Balwaan’s Sequence A funding train.

In June 2024, JM Monetary Non-public Fairness invested Rs 40 crore in Modish Tractoraurkisan Non-public Restricted, which operates the Balwaan Krishi model, as a part of the corporate’s Sequence A funding spherical.

Earlier than that, Balwaan raised $2 million in a pre-Sequence A spherical in Could 2023 led by the Caspian Leap for Agriculture Fund, which is managed by Caspian Fairness.