AgroStar (Pune-based AgriTech Startup) – Company Profile
1. TAM, SAM, SOM
TAM (Total Addressable Market):
The total potential market includes over 100 million Indian farmers who
require agricultural inputs, advisory services, and agri-commerce
solutions. The broader agri-input and advisory market in India is valued
at approximately USD 50–60 billion.
SAM (Serviceable Available Market):
AgroStar targets digitally aware small and medium-sized farmers across
11+ states in India. These are regions where AgroStar’s app-based
platform and retail network (AgroStar Saathi) are operational. The
estimated serviceable population within this scope is 25–30 million
farmers.
SOM (Serviceable Obtainable Market):
AgroStar currently serves over 9 million farmers across multiple states.
The company operates through more than 9,500 AgroStar Saathi retail
stores and an integrated mobile application, providing both advisory and
product delivery services.
2. Sectoral Challenges in AgriTech
Fragmented and geographically dispersed farmer base with small
landholdings.
Low digital literacy and limited access to internet-enabled services in
rural areas.
Last-mile delivery challenges in remote and interior locations.
Weather dependency impacting input demand, crop yield, and service
reliability.
Limited access to credit and subsidies, affecting farmers’ purchasing
capacity.
High operational and customer acquisition costs in Tier 2–4 markets.
Regulatory complexity and low levels of trust in new, digital platforms.
3. Founders' Background
AgroStar was founded by brothers Shardul Sheth (Chief Executive
Officer) and Sitanshu Sheth (Chief Operating Officer).
The venture began in 2010 with a simple toll-free, missed-call service for
placing agri-input orders, operated from a 100 square feet office in
Mumbai.
The company shifted its base to Pune to gain proximity to core
agricultural regions and later expanded operations across India.
The initial value proposition focused on enabling rural farmers to access
authentic, high-quality agri-inputs with expert guidance.
4. Co-founder Entry Timeline
Both founders, Shardul and Sitanshu Sheth, were involved from the
inception of the company.
There have been no publicly listed additional co-founders who joined at a
later stage.
The startup was bootstrapped during its early phase, with the founding
team managing customer support, advisory, and logistics roles internally.
5. Company Registration and Legal Details
Legal Entity Name: ULink AgriTech Private Limited
Head Office: Pune, Maharashtra, India
Corporate Identification Number (CIN): U51900PN2008PTC157070
Year of Incorporation: 2008 (operational scale-up occurred post-2013)
Business Category: Private Limited Company
Industry Focus: Agricultural Inputs, AgriTech Advisory, E-commerce,
and Export
Official Website: www.corporate.agrostar.in
6. Funding and Business Model
AgroStar has raised over USD 120 million in funding across Seed, Series A,
B, and D rounds.
Major investors include Accel, Chiratae Ventures, Aavishkaar Capital, Hero
Enterprise, CDC Group, Bertelsmann India Investments, and Evolvence.
The company’s service model includes:
Delivery of agricultural inputs such as seeds, fertilizers, and crop
protection products.
Real-time agronomy advisory via a mobile app.
A robust offline network of AgroStar Saathi stores for physical
distribution and engagement.
An export division (INI Farms) dealing with fruits like pomegranates and
bananas, exported to over 25 countries.
