By Your AgriStory 
Pune based Agritech startup Agrostar has raised Rs 57.65 crore or $6.7 million in a fresh round led by existing investor Accel India.
According to Agrostar’s regulatory filing obtained from the Registrar of Companies, the board has approved a special resolution to issue 1,45,397 mandatory convertible preference shares at an issue price of Rs 3,965 each in order to raise Rs 57.65 crore.
The round involved participation from current investors Accel India, Evolvence, Hero Enterprises, Chiratae Ventures, Bertelsmann, and Aavishkaar India. Entrackr estimates that the company’s post-allotment valuation is around $293 million.
Founded in 2013 by Sitanshu Sheth and Shardul Sheth, AgroStar is one of India’s foremost AgTech start-ups, working on the mission of Helping Farmers Win. AgroStar is an end-to-end solutions provider that is solving three major problems of farmers – limited access to good quality agri inputs, a gap in knowledge and information about scientific farming practices, and a lack of access to the best markets to sell their produce. Agrostar generates revenue from the sale of agri inputs.
Over USD 110 million has been raised by AgroStar to date, including USD 70 million in a Series D round led by Schroders. Chiratae Ventures had the biggest external stake before this round, according to data from TheKredible.
The company also makes it possible for farmers to sell their produce in over 25 countries by acquiring INI Farms, an exporter of fruits and vegetables, in 2022.
At the moment, AgroStar works in about 11 states, including Madhya Pradesh, Uttar Pradesh, Rajasthan, Maharashtra, and Gujarat.
