agribazaar
August 27, 2019
Central Hong Kong: 15th August, 2019
Synergy Media Specialists talks to the CEO of Agribazaar about the company’s success so far and future targets in the Indian agricultural sector. Agribazaar aims to become a global platform for the betterment of the farming community Synergy Media Specialists talks to the CEO of Agribazaar about the company’s success stories and future targets in the Indian agricultural sector.
Agribazaar: India’s Alibaba of Agriculture
Fifty percent of India’s total workforce is employed by the country’s agriculture sector. However, supply-chain inefficiencies mean agriculture only contributes approximately eighteen percent towards India’s gross domestic product.
“In an effort to tackle challenges within the country’s agriculture sector we built Agribazaar, an agri-tech platform which gives farmers access to multiple buyers across India,” said Amith Agarwal, co-founder and chief executive officer of Agribazaar. “The platform serves the needs of all stakeholders in the farm-to-fork value-chain.”
In only two years, Agribazaar has facilitated US$1.2 billion worth of transactions making it India’s largest online agri-trading marketplace.
Technology plays a key role in Agribazaar’s success. The company employs more than one hundred information technology professionals. Advanced solutions are offered such crop monitoring, image-based testing, A.I.-based satellite-imaging for crop-yield estimations, weather tracking and soil moisture detection.
Agribazaar currently connects approximately 10,000 traders and processors with its network of 200,000 farmers across India.
“We want to bring over one hundred million farmers into the digital marketplace in the next three to five years and gradually increase the number of traders using our platform to sixty million,” says Agarwal.
“We aim to become a global platform for the betterment of the farming community and are looking for long-term investors and innovation partners to grow with us.”
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