Business Description:StarAgri is an end-to-end solution provider in Warehousing, Procurement, Collateral Management of Agri-Commodities. It's a group company of StarAgri, setup with a vision of empowering rural India.
Have established a agri commodities testing and certification body under brand name STARLABS which is one of the prominent agri lab chains in North India and very soon scaling up to pan India basis.
Services: StarAgri has a vision to streamline the moves throughout the Agriculture Industry by offering an innovative approach to following areas initially:
Procurement servicesagri commodities services which includes direct Marketing yards to eliminate the middleman to give maximum returns to farmers for their produce.
Handling and transportation of commodities
Professional and field Warehousing services
Priority sector finance services for farmers , traders and processors
Collateral management services for bankers and corporates
Quality testing and certification services
Warehouse Receipt Finance
On-line Agriculture Informative Services
Value added services : Sale of agri inputs (Fertilizers, seeds and pesticides)
Insurance services (Life and general insurance)
Online equity and commodity trading services
Money transfer services
StarAgri will bring harmony among industry and farmers with its initiatives based on extensive research and analysis to offer:
Channel for agri input and output.
End-to-end retailing of services like finance, insurance etc. for mutual benefit of industry and farmers
Ensuring efficiency of Commodities Management.
Company was initially started by paid up capital of 5 lacs rupees in 2006 then it was raised upto 50 lacs rupees in 2007-08.since company is scaling up the marketing yard strategy and procurement yards addition capital inflow is being added and paid up capital as on 30 aug 2008 is 500 lacs rupees.company is looking for additional funds for vc or other institutions for scaling up the business line
Industry:Agribusiness/ Agriculture
Founded in:2006
Source of idea:Systematic search for business opportunity
Significant Competitors:Largely local and unorganized agri sector
Company Details :
Company Name:Star AgriWareHousing & Collateral Management
HeadQuarters:Jaipur
Stage of the company:Scaling up
No of Employees (2006):0-5
No of Employees (2007):51-100
Office Locations(2006):2-5
Office Locations(2007):6-15
No of companies promoted:Yes (1)
Profits (2006):1 to 5 lacs
Profits (2007):51 lacs - 1 crore
>Partnerships:ICICI Bank, Indusind bank, Development Credit Bank, State Trading Corporation, Nafed and NCDEX .
Initial Funding:Family & friends
Addl Funding:Venture capital
Institutitional Capital:No
Revneue Model:Maximizing customer satisfaction and earning profits on satisfactory grounds.
By tapping on the service aspect in the Agricultural sector and by organizing this highly unorganized sector, we are making profits. Secondly we focus on building customer relationships and their satisfaction, which also helps us grow.We are utilizing a untapped market where there is no presence of the corporate sector. Being a service sector company we are getting lots of fee based income and share in the interest earned from the bankers from the borrowers in commodity finance div.
Awards & honors:Received largest commodity finance channel partner from ICICI bank. We have revolved and recovered more then 10000 Mn rupees for ICICI bank in commodity finance without defaults. Every alphabet of every word of appreciation given by farmers and customers as a result of satisfaction they got from our services is itself an awad and honour for us.We have recd countless awards and honours till date and will keep on recieving in great nos. in future also.
Promoters Details :
Promoters Name(s):Amith Agarwal
Age:28
HomeTown:Alwar
Education:Masters
No of companies promoted:Yes (1)
Family Background:Business
Job:Director at Star Agriwarehousing and Collateral Management Ltd
Ex-Job Description:Finance ,strategy and business development
Favorite Book/Movie:Srimad Bhagwad Gita
