Balwaan Krishi, an agricultural technology company specializing in small farm machines, raised $2 million in pre-Series A led by Caspian Leap for Agriculture Fund, an agri-focused fund managed by Caspian Equity were notable investors including Deepak Agarwal (MD of Bikaji group), Rishab Jain (CFO of Bikaji), Pulkit Bachhawat (Founder, Right Pillar Advisors), and other prominent investors also participated. Right Pillar Advisors acted as the financial advisors to the transaction, while Skwerup Capital Partners served as the legal advisors.
India’s agricultural industry consists of 120 million farmers, of which 100 million are small and marginal farmers. Balwaan Krishi has made significant progress by raising awareness among 10 million farmers and serving approximately 500,000 farmers with their affordable products. However, there is a notable gap in the market for small mechanized products, as many companies primarily focus on producing large-scale tractors.
With the newly raised capital, Balwaan Krishi plans to develop new products and establish a pan-India distribution network for their existing offerings. The funding will also support the company’s expansion plans in the southern and eastern regions of India. Balwaan Krishi aims to design and launch innovative solutions tailored specifically for the Indian market, becoming the first in India to introduce ISI-approved small farm machine products under the Balwaan Krishi brand. Additionally, the company intends to set up a local Indian languages after-sale support center to provide round-the-clock technical assistance to farmers, ensuring seamless customer service and an enhanced overall experience. The funding will also enable the company to offer consumer finance options to farmers, making it easier for them to purchase machines through convenient EMI plans.
Rohit Bajaj, Co-founder, and CEO of Balwaan Krishi, expressed excitement about the funding round, stating that it marks a monumental milestone for the company. Bajaj emphasized the company’s commitment to innovation and leveraging cutting-edge technologies like artificial intelligence (AI) and machine learning (ML) to revolutionize their product offerings and provide proactive maintenance and support to farmers.
Emmanuel Murray, Investment Director at Caspian Equity and Fund Manager of Caspian LEAP, expressed enthusiasm for partnering with Balwaan Krishi. Murray praised the company’s affordable and custom-made agricultural machines, clever distribution network, and strong industry connections, which position them for market dominance. He also highlighted how Balwaan Krishi’s offerings improve farmers’ lives, promote gender equality through lightweight machines, and have a positive social impact.
Shubham Bajaj, Co-founder, and COO of Balwaan Krishi, reaffirmed the company’s dedication to empowering farmers and providing them with low-cost, cutting-edge agricultural equipment. Bajaj expressed excitement about the adoption of their gender-friendly lightweight machines among female farmers and emphasized that Balwaan Krishi aims to empower all farmers to succeed, regardless of gender.
Ankur Goel, Partner at Skwerup Capital Partners, highlighted Balwaan Krishi’s leadership in the small farm machinery segment and their ability to provide much-needed solutions to farmers through last-mile connectivity. Goel believes that the funding round will strengthen the company’s position and build a robust distribution network.
Balwaan Krishi’s success in raising $2 million in funding demonstrates their potential to transform India’s farm mechanization sector. With ambitious expansion goals and a focus on creating value and social impact, the company is set to improve the lives of farmers nationwide.
