Agricultural machinery company Balwaan Krishi has raised about Rs 100 crore ($10.4 million) in a funding round led by First Bridge India Growth Fund Private Equity. Meanwhile, Swiggy-backer Prosus is in talks to invest about Rs 150 crore in quick-commerce startup BazaarNow.
Balwaan Krishi raises $10.4 million in Series B round
Balwaan Krishi, an agricultural machinery company headquartered in Jaipur, has raised about Rs 100 crore ($10.4 million) in a Series B funding round led by First Bridge India Growth Fund Private Equity, with participation from other institutional investors, according to media reports.
The funding, which comes amid growth in India’s farm mechanisation market, will help Balwaan Krishi expand its manufacturing, distribution and product development capabilities.
Established in 2016, Balwaan Krishi manufactures agricultural equipment suited to India’s farming conditions. The company is understood to have more than 800 dealers across northern India and is said to serve over 4 lakh farmers across the country
Prosus in talks to back BazaarNow: Report
Swiggy-backer Prosus is in talks to invest about Rs 150 crore in BazaarNow, a quick-commerce startup led by former Zepto executives Priyanshu Jain, Arjun Harish and Tarithmay Mandal, The Economic Times reported, citing sources.
BazaarNow focuses on local products and regional brands in Tier 2 and Tier 3 cities and sells groceries and daily essentials.
The startup last raised Rs 72 crore from venture capital firm Peak XV Partners and others in June.
The talks are notable as they could see Swiggy’s largest shareholder invest in a challenger to its quick-commerce business, Instamart. Instamart also serves smaller markets through its presence across 131 cities.
