Balwaan Krishi raises Rs 100 Cr Series B to expand farm machinery network

Agricultural machinery company Balwaan Krishi has raised Rs 100 crore in a Series B funding round led by First Bridge India Growth Fund Private Equity, with participation from other institutional investors. The Jaipur-based company had earlier raised $2 million in a pre-Series A round led by Caspian Leap for Agriculture Fund in May 2023.

The earlier round also included angel investors Deepak Agarwal, Rishab Jain and Pulkit Bachhawat, according to the report.

Balwaan Krishi said the fresh capital will be used to expand domestic manufacturing capacity and strengthen dealer and service networks in Southern India. The company also plans to develop farm equipment with predictive maintenance and IoT capabilities.

The manufacturing expansion is aimed at improving control over product quality, supply chains and availability, while reducing dependence on imported machinery and components.

Founded in 2016 by Rohit Bajaj and Shubham Bajaj, Balwaan Krishi makes agricultural equipment designed for Indian farming conditions. The company has more than 800 dealers across Northern India, an e-commerce presence, and serves over four lakh farmers across the country.

Balwaan Krishi said around 86% of Indian farmers are small and marginal farmers cultivating less than two hectares. Its product portfolio is priced between Rs 10,000 and Rs 1 lakh, and the company targets this segment through a hybrid B2B and B2C distribution model.

The funding comes as agricultural machinery startups see activity across electric tractors, robotics, AI, automation and digital platforms. In 2025, electric tractor startup Moonrider raised $6 million from Pi Ventures and Singularity AMC after an earlier $2.2 million seed round.

Harvested Robotics raised Rs 5 crore in seed funding from Arali Ventures, with participation from Anand Mahindra and others, to develop AI-powered laser weeding technology for tractors. Tractor Junction, a digital marketplace for tractors and agricultural equipment, raised $22.6 million in Series A funding led by Astanor, with participation from Info Edge and Omnivore.