Balwaan Krishi, a Jaipur company that makes low-cost farm machinery for small and marginal farmers, said on 28 September 2026 that it had raised ₹100 crore (about $10.4m) in a Series B round.
First Bridge India Growth Fund Private Equity led the round. Other institutional investors took part, but the company did not name them. First Bridge invested ₹70 crore of the total, according to Bar & Bench.
The company did not disclose a valuation. Right Pillar Advisors advised on the deal; Vertices Partners acted for First Bridge and Samisti Legal for Balwaan Krishi, Bar & Bench reported.
“India's small and marginal farmers are increasingly facing rising labour costs and pressure to improve productivity, yet access to affordable mechanisation remains limited. More than four lakh farmers already use Balwaan machines, giving us strong validation of the demand for affordable mechanisation. We have built Balwaan around this opportunity, creating practical, reliable equipment that farmers can afford. This funding allows us to strengthen manufacturing, broaden our reach and continue building products specifically for Indian farming conditions.”Rohit Bajaj, Co-Founder and CEO, Balwaan Krishi
What Balwaan Krishi does
Balwaan Krishi was founded in 2016 by brothers Rohit Bajaj, its chief executive, and Shubham Bajaj. Its legal entity is Modish Tractoraurkisan Private Limited.
The company makes equipment such as power weeders and battery sprayers for farmers who work small plots, typically less than two hectares. Its products are priced from about ₹10,000 to ₹1 lakh. It says more than four lakh (400,000) farmers use its machines.
Balwaan sells through a mix of business and consumer channels, with more than 800 dealers in northern India and a growing online presence. It did not disclose revenue or headcount.
What the money is for
The company said it would use the funds for three things. The first is expanding manufacturing in India to reduce its reliance on imported machinery and parts, Inc42 reported. The second is building a dealer and service network in southern India, where it is not yet established. The third is developing new equipment with predictive maintenance and internet-connected features that can flag problems before a machine breaks down.
Rohit Bajaj said rising labour costs and pressure to raise productivity were pushing small farmers towards mechanisation, but that affordable machines remained hard to get. He said the funding would let the company strengthen manufacturing and reach more farmers.
Vishal Gupta, managing partner at First Bridge Investment Managers, said Balwaan sat at the meeting point of a large addressable market, rising adoption of farm mechanisation and proven customer demand. He also pointed to its affordable, farmer-focused products, its distribution network and its standing among small and marginal farmers, and said these gave it a base to scale.
The funding so far
Balwaan Krishi raised ₹40 crore in a Series A led by JM Financial Private Equity in June 2024, which it used for product development and wider distribution, according to Inc42 and StartupFeed. Before that, it raised $2m in a pre-Series A round from Caspian Leap for Agriculture Fund in May 2023, StartupFeed reported. At ₹100 crore, the Series B is two and a half times the size of the Series A.
The round adds to recent investment in Indian agriculture businesses. Inc42 noted that supply-chain company WayCool raised ₹210 crore from Lightrock India in March, and that warehousing and finance platform Arya.ag raised $80m in a Series D led by GEF Capital Partners in January.