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Agritech firm AgroStar in talks to raise $40-50 mn to expand private labels

Livemint · 10m

Agritech startup AgroStar is reportedly in talks to raise $40-50 million from new and existing investors to expand its private-label business. The Pune-based firm last raised $70 million in Series D funding earlier this year. The company's private brands, spanning seeds to farm equipment, account for over 80% of its revenue. The move comes as agritech firms are increasingly focusing on their own brands to drive revenue and improve margins. However, the overall agritech sector in India has seen a slowdown in investments, with venture capital funding dropping 33% in 2022.