MandiApp to raise funds in the next quarter
MandiApp aims at educating farmers and traders about the dynamics of the market and keep them updated. The app aggregates the data at multiple levels to help the buyers and supplier to understand the availability and rates at different locations. The data captured contains details of quality, quantity and price etc. which helps the buyers and sellers to make an easy decision. The platform helps people to directly share the information and make a deal rather than going through the Mandi.
Replying to Newsbarons, Santosh Kumar, Founder and CEO of MandiApp informed “In the next 2 years, we plan to launch 100 collection centres across Maharashtra and increase our presence in markets like Andhra Pradesh and Gujarat.”
NB: What is your take on agritech industry?
Santosh Kumar: Agritech is a burgeoning field globally with many innovations and advancements happening at a rapid pace and fundamentally reshaping how we farm, cultivate crops and rear animals.
Currently, the agritech industry in India offers an opportunity to create sustainable economic growth and establish ourselves on the world stage. With the new government initiative ‘Agri Udaan’ and increased investor interest in this area, agritech startups hold the possibility of bringing in a revolution for the industry.
NB: What is the market size of the agritech industry?
Santosh Kumar: The market is pegged to be at US$250 bn and is growing at a rapid pace in India
NB: What are your future plans?
Santosh Kumar: Our primary aim is to get the farmers on the digital platform and build collection centres to help uneducated farmers be a part of the digital world. We follow a hybrid model connecting the farmers and traders, both online and offline, and look forward in bringing all the farmers, traders, retailers and exporters on a single platform and making it easy for them to buy and sell their products.
In the next 2 years, we plan to launch 100 collection centres across Maharashtra and increase our presence in markets like Andhra Pradesh and Gujarat.
NB: What will be your focus area going forward?
Santosh Kumar: Our main focus will be on bringing the agri-commodity industry on the digital medium in India. The market currently is very scattered and non-organised and our primary aim is to consolidate the industry across India.
NB:Are you looking at fund raising plans?
Santosh Kumar: Currently, we are a part of TLabs, the incubator from Times Internet Limited and we have received funding from individuals too. Our next round of funding will take place in the next quarter.
NB: What is your user base target for next year?
Santosh Kumar: Currently, we have about 12,000 registered users on our platform and we see 40% growth in users on a quarterly basis. We aim at about 50000 online users by end of 2018-19 fiscal year.