Tractor Junction Raises $5.7 Million In Seed Funding, Led By Info Edge Ventures And Omnivore The fund will be used for talent acquisition, development of financial services and launching physical stores for used tractor transactions
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Tractor Junction, a rural vehicle marketplace, has raised $5.7 million in Seed funding led by Info Edge Ventures and Omnivores. The round also witnessed participation from AgFunder, GROW Impact Fund and Rockstart AgriFood fund along with angel investors including Vikram Chopra and Mehul Agrawal (co-founders, Cars24), Vellayan Subbiah and Arun Venkatachalam (Murugappa Group) and Sanjiv Rangrass. The fund will be utilised for talent acquisition, development of financial services and launching physical stores for used tractor transactions across northern India.
"The rural vehicle ecosystem is at the cusp of a digital revolution and our team at Tractor Junction are excited to tackle this opportunity that lies ahead. We are humbled to have the confidence of investors like Info Edge and Omnivore who bring vast experience of building scalable business," said Rajat Gupta, co-founder, Tractor Junction.
Over the last two years, Tractor Junction has experienced 7 times growth in the annual revenues. In the last 12 months, the startup portal had more than 30 million unique visitors and created over 1 million hours of original content shared across the YouTube and other social media, claimed the startup in a statement.
"The used tractor and farm equipment market is highly unorganized with a lack of established sales channels. As a result, farmers struggle to access quality information and inventory. Tractor Junction is bringing convenience, transparency and affordability to the farm equipment buying process," said Kitty Agarwal, partner, Info Edge Ventures.
Founded in 2019 by Animesh Agarwal, Rajat Gupta and Shivani Gupta, Tractor Junction is a rural marketplace, to buy, sell, finance and insure new and used tractors, farm equipment and rural commercial vehicles. It provides necessary information and reviews on farm machinery, enabling users to compare the options and brings transparency in pricing.