Balwaan Krishi, a Jaipur-based maker of farm machinery for small and marginal farmers, has raised Rs 100 crore in a Series B round led by First Bridge India Growth Fund Private Equity with other institutional investors. Right Pillar Advisors advised on the deal.
The company says more than four lakh farmers use its equipment, which is priced between Rs 10,000 and Rs 1 lakh, aimed at the small and marginal farmers who hold a large share of India's farmland.
The money will expand domestic manufacturing, build the dealer and service network in southern India and develop new equipment, including power weeders and battery sprayers with predictive maintenance and IoT capabilities.
Balwaan has more than 800 dealers across northern India and sells through a mix of business and direct channels as well as online.
Source: Global Agriculture
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