India’s leading rural vehicle marketplace, Tractor Junction, has raised a USD 5.7 million Seed round co-led by Info Edge Ventures and Omnivore. Existing investors AgFunder GROW Impact Fund and Rockstart AgriFood Fund also participated in the round, alongside investors including Vikram Chopra and Mehul Agrawal – the co-founders of Cars24; Vellayan Subbiah and Arun Venkatachalam from the Murugappa Group, and Sanjiv Rangrass.
Noida-based, Tractor Junction is India’s leading digital marketplace to buy, sell, finance, and insure new and used tractors, farm equipment, and rural commercial vehicles. Despite the steady pace of agricultural mechanisation, Indian farmers who want to buy rural vehicles have to navigate information opacity, unfair pricing, and a lack of trusted sources for smooth transactions. Dealers also struggle to reach their target customers, appropriately price used vehicles, and liquidate exchange inventory. Tractor Junction is revolutionising the rural vehicle space by providing necessary information and vetted reviews on farm machinery, enabling users to compare shortlisted options, and bringing transparency in pricing.
Rajat Gupta, Co-Founder of Tractor Junction said, “The rural vehicle ecosystem is at the cusp of a digital revolution and our team at Tractor Junction is excited to tackle the opportunity that lies ahead. We are humbled to have the confidence of marquee investors like Info Edge and Omnivore who bring a vast experience of building scalable businesses.”
Kitty Agarwal, Partner at Info Edge Ventures said, “The used tractor and farm equipment market is highly unorganised with a lack of established sales channels. As a result, farmers struggle with access to quality information and inventory for a relatively high-value purchase. Tractor Junction is bringing convenience, transparency, and affordability to the farm equipment buying process, thus empowering farmers and creating a winning ecosystem for all stakeholders. The founding team’s excellent execution and several years of deep experience have resulted in Tractor Junction emerging as the leading one-stop platform for rural vehicles and allied services.”
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Jinesh Shah, Managing Partner, Omnivore said, “By clearing the haze of information asymmetry, Tractor Junction is empowering smallholder farmers with access to valuable data and affordable high-quality farm vehicles. Tractor Junction will have a far-reaching impact on farmer profitability and we at Omnivore are thrilled to support this journey.”
The rural vehicle marketplace was founded in 2019 by Animesh Agarwal, Rajat Gupta and Shivani Gupta. Animesh, an IIM Shillong alumnus, was previously leading the North India operations of Cars24, and earlier in his career worked for Mahindra’s farm equipment business across sales, channel development, digitisation and strategy roles. Rajat is a second-generation tractor professional, who earlier ran a Mahindra tractor dealership, before initially bootstrapping Tractor Junction together with Shivani Gupta in their hometown of Alwar, Rajasthan.
Over the last two years, Tractor Junction has experienced 7X growth in annual revenues and has remained operationally profitable. In December 2021, Tractor Junction acquired rival marketplace TractorGuru (the second-largest farm machinery portal), further strengthening its leadership in this space.