Balwaan Krishi raises ₹100 Cr Series B for farm equipment
Agritech startup Balwaan Krishi has raised ₹100 Cr (around $10 Mn) in a Series B round led by First Bridge India Growth Fund Private Equity, with participation from other institutional investors whose names were not disclosed.
The Jaipur-based startup makes agricultural equipment for Indian farming conditions. Its product development plans include power weeders, battery sprayers, and other farm equipment, with connected features to monitor machines and identify maintenance needs before a breakdown.
Founded in 2016 by brothers Rohit and Shubham Bajaj, Balwaan claims that more than 4 Lakh farmers use its equipment. Its products are priced between ₹10,000 and ₹1 Lakh, targeting small and marginal farmers for whom larger machinery may be too expensive or unsuitable.
The company sells through a network of more than 800 dealers across northern India, alongside ecommerce channels.
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A significant portion of the new capital will go towards manufacturing in India to reduce dependence on imported machinery and components, while giving the company greater control over product quality and availability. The funding will also support the expansion of its dealer and after-sales service network in southern India.
The round follows Balwaan's ₹40 Cr Series A investment from JM Financial Private Equity in June 2024, which was also earmarked for product development and distribution expansion, including in southern India.
Balwaan's fundraise adds to investments across agricultural machinery, supply chains, and financing this year. WayCool raised ₹210 Cr from Lightrock India in March, while Arya.ag raised $80 Mn in a Series D round from GEF Capital Partners in January.
“This funding allows us to strengthen manufacturing, broaden our reach and continue building products specifically for Indian farming conditions,” said cofounder Rohit.
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