Balwaan Krishi raises ₹100 crore Series B led by First Bridge
Kalpana Maurya
1 Oct 2026 · 2 min read
Jaipur-based Balwaan Krishi, which makes low-cost machinery for small farmers, has raised ₹100 crore in a Series B led by First Bridge India Growth Fund. The money will expand manufacturing in India, take its dealer network into southern India and fund connected farm equipment.
Balwaan Krishi, a Jaipur-based maker of agricultural machinery, has raised ₹100 crore (around $10 million) in a Series B round led by First Bridge India Growth Fund Private Equity according to reports published on 28 September 2026 based on a company press release. Other institutional investors also took part; their names were not disclosed.
The new round follows a ₹40 crore Series A from JM Financial Private Equity in June 2024 and a $2 million pre-Series A in May 2023.
What the money is for
Balwaan said a large share of the money will go into manufacturing in India. Making more of its machines and parts at home is meant to give it tighter control over quality, supply and availability, and to cut its reliance on imported machinery and components.
The second priority is southern India, where the company wants to build out dealers and after-sales service so that products and spare parts are easier to get. The Series A had also been earmarked partly for expansion in the south, Inc42 noted.
On the product side, Balwaan plans power weeders, battery-powered sprayers and other equipment with connected features that monitor machines and flag maintenance needs before a breakdown, using IoT and predictive-maintenance technology.
"This funding allows us to strengthen manufacturing, broaden our reach and continue building products specifically for Indian farming conditions," co-founder Rohit Bajaj said.
About Balwaan Krishi
Brothers Rohit Bajaj and Shubham Bajaj founded Balwaan Krishi in 2016 to make farm equipment suited to Indian conditions. Its products are priced between ₹10,000 and ₹1 lakh, aimed at small and marginal farmers for whom larger machinery is often too costly or unsuitable. The company cites estimates that about 86% of Indian farmers fall in this group, cultivating less than two hectares.
Balwaan sells through a hybrid B2B and B2C model: a network of more than 800 dealers across northern India, alongside e-commerce channels. It says more than four lakh farmers use its equipment.
Its 2023 pre-Series A was led by the Caspian Leap for Agriculture Fund, with angels including Deepak Agarwal, Rishab Jain and Pulkit Bachhawat taking part.
The raise adds to a run of agritech funding this year. Inc42 pointed to WayCool's ₹210 crore round from Lightrock India in March and Arya.ag's $80 million Series D led by GEF Capital Partners in January.
Key facts
- Company: Balwaan Krishi (Jaipur)
- Founders: Rohit Bajaj, Shubham Bajaj
- Round: Series B
- Amount: ₹100 crore (about $10 million)
- Lead investor: First Bridge India Growth Fund Private Equity
- Other investors: Undisclosed institutional investors
- Previous rounds: ₹40 crore Series A (JM Financial PE, June 2024); $2 million pre-Series A (Caspian Leap for Agriculture Fund, May 2023)
- Announced: 28 September 2026
Frequently asked questions
How much did Balwaan Krishi raise?
₹100 crore, about $10 million, in a Series B round.
Who led Balwaan Krishi's Series B?
First Bridge India Growth Fund Private Equity, with other institutional investors whose names were not disclosed.
Who founded Balwaan Krishi?
Brothers Rohit Bajaj and Shubham Bajaj founded the company in 2016.
What will Balwaan Krishi do with the money?
Expand manufacturing in India, build its dealer and service network in southern India, and develop connected farm equipment such as power weeders and battery sprayers.
