Agri-input startup Agrostar raised $70 million in Series D from Evolvence, global asset manager Schroders Capital, Hero Enterprise, and the United Kingdom’s development finance institution CDC along with existing Investors including Aavishkaar Capital, Accel, Bertelsmann, Chiratae Ventures, andRabo Frontier Ventures also participated.
AgroStar has created a multilingual content-led commerce platform where farmers can interact with one another, troubleshoot farming issues, and purchase agricultural inputs. According to a cofounder, the platform has seen a tenfold increase in video content consumption over the last year. He also stated that a portion of the funds will be used to expand to over 5000 AgroStar branded retail stores in order to strengthen the company's omnichannel strategy. The new funds will be used to strengthen the company's technology platform, hire senior talent, and expand into new categories and geographies. In the last year, the company expanded its brand stores from 50 to over 1000.