MeraTractor, a phygital marketplace catering to farm mechanization products, has raised Rs 5 crore in funding led by Vibhor Sahare (CEO & Co-founder of ANS Commerce and ex-CEO & Co-founder of Gaadi.com), Real Time Angel Fund and Digital Futuristic Angels Network.
The funding round also saw participation from Gaurav Gupta – CEO of Adani Capital, Shashank Kumar and Amrendra Singh (Co-founder of Dehaat), Avinash Kumar (Founder of Credenc) and Arvind Kumar (Business Head of Agri division at Force Motors).
As per the startup, the freshly raised funds will be used to increase dealership network presence and enhance technology to organize supply channels.
MeraTractor | Farm Mechanization Products
Co-founded by Sajith Abraham and Monak Gohel, MeraTractor is an agritech platform helping farmers avail agri inputs in terms of farm mechanization Products, including Used Tractors, Farm Mechanization Tools and Much More.
The Pune-based startup offers an end-to-end support system of a network of dealerships connected digitally and with the farmer to help them make informed decisions.
Speaking about the development, Sajith Abraham, Co-founder of MeraTractor, said,
“There has been significant work in crop cultivation, in ensuring better yield, farm-gate solutions and a push from the government to improve farmer income. However, farm mechanization for Indian farmers, of which over 85 per cent are smallholders, has been vastly missed out because of purchase capabilities.”
Its B2B offerings help banks and NBFCs liquidate their repossessed farm assets through its SAAS platform, offering complete transparency to both the Buyer and the Seller.
As per Monak Gohel, Co-founder, MeraTractor, the farm mechanization sector is on the verge of massive disruption and has created an environment for innovation that will help startups like MeraTractor address the inefficiencies in the sector.
Including the latest Pre-Series A funding round, MeraTractor has so far raised Rs 7.25 crore.
As per a report by Avendus Capital, India’s agritech sector is likely to grow in scale and will have 8-10 startups with more than a billion dollars in value each over the next five years.
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