In an funding round headed by Astanor and involving Info Edge and Omnivore, the tractor-focused marketplace Tractor Junction has raised $22 million. $5 million in debt and $17 million in equity made up the round. With a $5.7 million seed round in April 2022, the company has already raised roughly $28 million.

Key Highlights

• Tractor Junction raised $22 million in a funding round led by Astanor to accelerate agritech growth.
• The investment will support platform expansion, technology upgrades, and improved services for India’s farming community.

The new funding will be utilized to increase the number of vehicles, services, and financing options it offers in rural India, fortify its relationships with dealers, OEMs, and sellers, and increase its online and offline presence.

Tractor Junction combines an online platform with a network of physical dealers to run a marketplace for the purchase, sale, financing, and insurance of new and old tractors, agricultural equipment, and rural commercial vehicles.

Since its January 2024 inception, its fintech division, FINJ, has partnered with 25 lending banks to disburse more than Rs 1,500 crore. FINJ offers financing at interest rates up to 30% lower than the unorganized market because to technology and data-driven underwriting.

Also Read: Axirium Aerospace Raises USD 3.5 Mn Seed Funding

TheKredible reports that despite losses increased to Rs 9.08 crore from Rs 3.67 crore, the company's operating revenue increased by more than 70% to Rs 106.43 crore in FY25 from Rs 62 crore in FY24.

Nearly 80% of FY25 revenue came from tractor sales, while financial services increased tenfold and the used car industry surged 1.8 times thanks to 65 COCO locations in Rajasthan, Madhya Pradesh, and Maharashtra.

Currently, the business runs COCO outlets in 75 locations throughout six states.