Tractor Junction raises $5.7m in seed funding

Date: 28 Apr 2022

India's leading rural vehicle marketplace, Tractor Junction, announced that it 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 Agri Food Fund also participated in the round, alongside angels including Vikram Chopra & Mehul Agrawal - the co-founders of Cars24, Vellayan Subbiah & Arun Venkatachalam from the Murugappa Group, and Sanjiv Rangrass.

Tractor Junction is India’s largest digital marketplace to buy, sell, finance, and insure new and used tractors, farm equipment, and rural commercial vehicles. Despite the steady pace of agricultural mechanization, 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.

Based in Noida, Tractor Junction 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 Tractor Guru (the second-largest farm machinery portal), further strengthening its leadership in this space. In the last 12 months, the Tractor Junction portal had over 30 million unique visitors, and the brand has rapidly gained prominence in rural India. The startup has also created over 1 million hours of original content shared across YouTube and other social media. 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. Here is a list of open positions.

 

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