Leadership Talk Series: Exclusive Chat with Mr. Sushan Rungta, CTO- Agribazaar
“Today entrepreneurs look at Agri-tech as the most promising sector for the future” — Mr. Sushan Rungta
Focus Agritech had the opportunity to interact with Mr. Sushan Rungta, CTO of Agribazaar. A technologist driving innovation, Mr. Rungta has shaped Agribazaar’s competitive edge with transformative solutions for Indian farmers. Also the founder of AppuOnline Consultancy Services and ClickIndia Infomedia, he holds an MBA from the Institute of Management Technology, Ghaziabad.
2025 Update: Agribazaar’s E-Mandi Evolution
Since 2021, Agribazaar has solidified its role as India’s leading e-mandi, connecting 2-3 lakh farmers, traders, and FPOs across the agri value chain. With no new funding rounds since its 2017 backing from Temasek Singapore and Investcorp (via StarAgri), Agribazaar reported $3.28M revenue in 2024 and a 2021 gross merchandise value of $2,250M. Innovations include the 2024 launch of an AI-driven GIS-based Command Centre in Uttar Pradesh, visualizing data for 57,000 gram panchayats to enhance soil health, yields, and resource management.
Partnerships with Rivulis (2022) for micro-irrigation and UPDASP (2024) for crop surveys bolster its precision farming focus. AgriPay, its e-wallet, has facilitated over $1B in transactions, while Agri Bhumi offers crop advisories. Agribazaar aims to expand village fulfilment centres and integrate AI, drones, and hydroponics, aligning with India’s $24B agritech opportunity.
Transformational Technologies
Focus Agritech: What segments of the agriculture value chain has Agribazaar transformed with technology?
Mr. Sushan Rungta: We focus on creating happy farmers, buyers, and partners through integrated supply chain management, including warehousing and transportation. Our e-mandi platform connects 10,000 traders, 100+ FPOs, and 2 lakh farmers, with 32,437 auctions, 11,322 crore contract value, and 26,29,854 metric tonnes traded. We also offer crop advisory and input sales, integrating NAFED milling auctions.
Farmer Tech Adoption
Focus Agritech: How ready are Indian farmers to adopt your digitized, traceable platform?
Mr. Sushan Rungta: Farmers face challenges like zero paying capacity, small land holdings, and low smartphone penetration (80% lack smartphones). Adoption will take time, but the agritech ecosystem is growing, with private players offering solutions. Collaborative efforts are key to ensuring ease of use and benefits for farmers.
Pandemic Resilience
Focus Agritech: How did Agribazaar fare during the COVID-19 disruptions?
Mr. Sushan Rungta: Our platform’s convenience drove a 400% surge in farmer and buyer registrations and turnovers during the lockdown. Our transparent, efficient model aligns with the goal of doubling farmers’ incomes by 2024, showing stability and scalability.
Ecosystem Integration
Focus Agritech: How do you integrate disparate IT systems across the value chain?
Mr. Sushan Rungta: Integrating labs, weighment bridges, E-NAM, mandis, FPOs, and ERP systems connects the value chain. A policy framework and IT architecture are needed at the government level. Private players like Agribazaar seek synergies with government and ecosystem partners for farmer-centric solutions.
Agritech Momentum
Focus Agritech: How do you view the slow tech adoption versus increasing agritech innovation?
Mr. Sushan Rungta: Agriculture supports 55% of India’s population and 18% of GDP, with 450+ agritech startups. Previously government-driven, the sector now attracts private entrepreneurs. Startups improve supply chains, market linkages, digital transparency, input access, and financing, reducing middlemen and enhancing farmer prices.
Technology Roadmap
Focus Agritech: What’s Agribazaar’s short- and long-term technology roadmap?
Mr. Sushan Rungta: Short-term, we aim to expand reach and transaction channels to deliver value services. Long-term, we seek a transparent value chain, enabling consumers to trace food origins, quality, and farmer contributions.
Vote of Thanks
Focus Agritech would like to thank Mr. Sushan Rungta for sharing his valuable insights on Indian Agriculture and how technology is redefining the landscape. Agribazaar’s growth story has been simply outstanding under the visionary leadership of Mr. Sushan Rungta and we would like to wish the StartUp a promising and fulfilling journey ahead.
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