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Meratractor Secures Rs 5 Crore In A Pre-Series A Funding Round

The investment round was led by Vibhor Sahare, the co-founder and chief operating officer ( CEO) of ANS Commerce and ex-CEO and co-founder of Gaadi.com

Meratractor Secures Rs 5 Crore In A Pre-Series A Funding Round
POSTED ON January 17, 2023 3:14 PM

Meratractor, a Pune-based start-up and a ‘Phygital’ marketplace catering to farm mechanisation products, has raised Rs 5 crore in a Pre-Series A funding, bringing total capital raised to Rs 7.25 crore post this round. 

The investment round was led by Vibhor Sahare, the co-founder and chief operating officer ( CEO) of ANS Commerce and ex-CEO and co-founder of Gaadi.com. Apart from Sahare, marquee investors like Gaurav Gupta, the CEO of Adani Capital, Shashank Kumar, the co-founder of Dehaat, Avinash Kumar, the founder of Credenc and Arvind Kumar, the head of business of the agri division at Force Motors and ex-CEO of Trringo ( M&M group company) and Lemkin India, also joined the round. 

The company will utilise the newly infused capital in increasing the dealership network presence. Additionally, it would enhance technology to organize supply channels.

The agritech start-up aims to create an entire ecosystem to become a one-stop solution for all stakeholders engaged in the farm mechanisation sector. It has also claimed to establish a sustainable business proposition for farmers, dealers, finances and OEMs. Additionally, it wants to tap the rural market with network-based out-of-rural locations. 

Talking about the business, the co-founder Sajith Abraham, 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 mechanisation for Indian farmers, of which over 85 per cent are smallholders, has been vastly missed out because of purchase capabilities." 

"This creates challenges starting from discovery, financing facilities, and other key milestones in the process, making it difficult for an unassuming farmer. As a solution, MeraTractor is looking at bridging the gap between a smallholder farmer and access to farm mechanisation or financial products,” he added. 

Monak Gohel, co-founder, Meratractor, said, “The farm mechanisation sector is on the verge of massive disruption and has created an environment for innovation that will help start-ups like MeraTractor addresses the inefficiencies in the sector." 

"We believe farm power is an essential input in agriculture; hence, we are excited about the fundraise as it will help us to accelerate our journey in growing the network further by tapping into massive rural business opportunities that lie ahead,” he added. 

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