[Funding Alert] Rural Vehicle Marketplace Tractor Junction bags $5.7 Mn Seed Funding

Tractor Junction

In a seed round co-led by Info Edge Ventures and Omnivore, a Noida-based rural vehicle marketplace, Tractor Junction bags $5.7 million. Existing investors AgFunder GROW Impact Fund and Rockstart AgriFood Fund also participated in the round.

Angel Investors including Mehul Agarwal and Vikram Chopra- Co-Founders of Cars24; Vellayan Subbiah and Arun Venkatachalam from the Murugappa Group and Sanjiv Rangrass also participated in the round.

Tractor Junction plans to use this funding for talent acquisition, development of financial services, and launching physical stores for used tractor transactions across northern India, the company said in an official statement.

Founded in 2019 by Animesh Agarwal, Rajat Gupta, and Shivani Gupta, Tractor Junction is the domestic digital marketplace to buy, sell, finance, and ensure new and used tractors, farm equipment, and rural commercial vehicles.

Tractor Junction claims it is revolutionizing the rural vehicle space by equipping necessary information and vetted inspections on farm machinery, enabling users to compare shortlisted options, and bringing transparency in pricing. In the last 12 months, the Tractor Junction portal had over 30 million visitors.

Animesh, an IIM Shillong alumnus, was previously leading the North India operations of Cars24. Earlier he worked for Mahindra’s farm equipment business across sales, channel development, digitization, and strategy roles. Rajat earlier ran a Mahindra tractor dealership, before initially bootstrapping Tractor Junction together with Shivani Gupta in their hometown of Alwar, Rajasthan.

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.”

The startup also claims that it has experienced 7X growth in annual revenues and has remained operationally profitable over the last two years. In December 2021, Tractor Junction acquired rival marketplace TractorGuru (farm machinery portal), further strengthening its leadership in this space.

Kitty Agarwal, Partner at Info Edge Ventures, said, “The used tractor and farm equipment market is highly unorganized 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.”

Jinesh Shah, the Managing Partner of 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.”

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