Ankur Capital, an early stage venture capital fund focused on backing innovations in agriculture, healthcare and education, has announced its investment in Bighaat, a Bengaluru-based pioneering agri eCommerce startup, for an undisclosed amount.
The Agri-input market in India is worth over ₹60,000 crores or $10 billion but is captive to the whims of the distribution network with even the largest players not able to reach the farmer directly. Having served over 50,000 farmers across India, BigHaat is India’s largest “Multi-brand agri e-store” and is poised to move a sizable chunk of this market online.
BigHaat has been successful in introducing greater transparency in agri input consumption by connecting farmers to verified suppliers directly and reducing travel periods required to procure their desired products. BigHaat is currently working with several leading seed suppliers across India in bringing their products on BigHaat platform to provide transparent, competitive and quality services directly to farmers.
Beyond seeds, BigHaat provides a wide range of agri products (crop protection, instruments, accessories etc), services and solutions to serve end-to-end agri community needs. They have so far partnered with multiple brands like Dupont, Monsanto, Indus, Mahyco, UPL, among others.
Rema Subramanian, Co-founder & Managing Partner, Ankur Capital says, “We are excited about technology playing a key role in improving efficiency and transparency in agri-input distribution systems for farmers and are thrilled to back a great team at BigHaat.”
BigHaat was founded by a trio of enthusiastic and passionate entrepreneurs Sateesh Nukala, Sachin Nandwana and Raj Kancham in January 2015 in Bangalore. All three founders hail from farming backgrounds with decades of experience in corporate and startup roles.
Ankur Capital has been focused on investing in agri-businesses, healthcare, and education. In November 2016, Ankur Capital invested in an innovative cold chain company, TESSOL. Ankur Capital’s previous investments include Cropin (an Agri bigdata startup), Suma Agro (a soil nutrient and conditioner), Skillveri (a simulator based skill development device manufacturer), Karma Healthcare (an e-health startup) and ERC Eyecare (an Northeast based eyecare startup).
Top Image – BigHaat Founders – Sachin (L) and Sateesh (R)