The agricultural industry in India comprises 12 crores farmers, of which 10 crores are small and marginal farmers. The company has achieved significant traction, having created awareness among 10 million farmers and servicing approximately 5 lakh farmers with their affordable products. However, However, there is currently a significant 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 intends to develop new products and establish a pan-India distribution network for their existing products. Along with it this funding is to support Balwaan Krishi’s expansion plans in the southern and eastern regions of India. The company aims to design and launch innovative solutions, tailored specifically for the Indian market, with the distinction of being the first in India to introduce ISI-approved small farm machine products under the Balwaan Krishi brand. In addition to expanding its operations, the company plans to set up a local Indian languages after-sale support center that will provide round-the-clock technical assistance to farmers. This initiative aims to ensure seamless customer service and enhance the overall experience of farmers using it’s machines. Furthermore, the funding will enable the company to offer consumer finance options to farmers, making it easier for them to purchase machines through convenient EMI plans.
On this funding round Rohit Bajaj – Cofounder and CEO said in a statement, “This funding round marks a monumental milestone for Balwaan, propelling us towards our long-term vision and goals, it will strengthen our market position, attract top people, and increase our distribution network! We will be able to connect with smaller farm mechanization by expanding our distribution networks. We are at the forefront of innovation, harnessing cutting-edge technologies like artificial intelligence (AI) and machine learning (ML) to revolutionize our product offerings and obtained to give proactive maintenance and unparalleled support to our dedicated farmers.”
Emmanuel Murray, Investment Director Caspian Equity and Fund Manager Caspian LEAF said, “We are thrilled to have Balwaan Krishi as a partner. Our investment in Balwaan aligns with our investment thesis of offering innovative products for mechanization and empowerment of small farmers. Balwaan’s wide range of affordable, custom-made agricultural machines, clever distribution network, and strong industry connections set them positioned for market dominance.”
Murray added that Balwaan Krishi’s offerings boost production, improves farmers’ lives, and alters rural communities by providing affordable and effective machinery to manage small and marginal farms. Their focus on women producers through gender-friendly lightweight machines encourages gender equality and inclusivity in agriculture distinguishes Balwaan Krishi.
“Balwaan Krishi will transform India’s farm mechanization sector. Their ambitious expansion goals, expected top-line revenue, and strong dealer network illustrate their ability to build market share and create value. Balwaan Krishi’s unique ideas and social impact will improve farmers’ lives nationwide. We are excited to support Balwaan’s growth and agricultural impact. By empowering farmers and fostering permanent change, we hope to transform Indian agriculture,” Murray said. “Our unwavering dedication to empowering farmers remains steadfast,” Shubham Bajaj – Cofounder and COO says. “We aim to give low cost, cutting-edge agricultural equipment to Indian farmers with our innovative products and wide distribution network. This will boost their yield and save labour expenditure. I am thrilled to witness the remarkable adoption of our gender-friendly lightweight machines among female farmers, Balwaan empowers all farmers, regardless of gender, to succeed.”
Deal advisor, Ankur Goel, partner at Skwerup Capital Partners, “Balwaan is leading the space in small farm machinery segment by harnessing much needed solutions (available across the globe) and providing the same to farmers through last mile connectivity. The round will help company to build more strong position and make its distribution network robust.”
