The Agri tech start up Bijak is all-ready with its Employee stock option scheme and the major part to be focused upon is that it is worth rupees 65 crore. The details into it can be seen in the article.
DIVE INTO BIJAK
Bijak is basically an Agri-tech platform established two years back that allows you to get help through its applications which have features like :
- Network to access the buyers across the country
- Book keep your data to get in the best efficient interpretation.
- Providing quick dispersal of loans
- Setting up an entire mechanism of alerts & reminders
- Safe & Real time payments
- Providing ratings to enhance accountability
It was launched by Nukul Upadhyaye, Mahesh Jakhotia , Jitender Bdewal, Daya Rai and Nikhil Tripathi. It has a geographical span of 22 states with working in more than 550 regions having more than 80 plus commodities. The investing partners of Bijak are main prominent leaders in the market like Sequoia, RTP Global , Better , Omnivore and Omidyar Network India.
WHAT IS AGRI TECH??
Technology will always find its way; be it any domain.
Agriculture has also been introduced with technological innovation in order to bring a radical change in the efficiency & output at the same time. The principle to grow more food from less space is the mantra. It can be in the form of robots to labour to artificial intelligence or machine learning too.
The barriers to agricultural innovations are quite decreasing making it comfortable for more people to revolutionize the way we sow & reap.
WHAT IS ESOP?
It is in simple terms a benefit plan that tends to give workers the ownership interest in the company. It is in the advantage of the providing company & receiving entities as they make tax benefits. It raises a feeling among employees to see themselves as shareholders and work in the best interest possible.
A special resolution has been passed to adopt the Employee stock option scheme. The chances are that 1765 options will be issued parallel to a single equity share. Although a start up still its options are amongst the renowned ones in the market like Razorpay, Nykaa and many more. Any person or entity holding ore than 10% share would be left aside.
- The period to be vested is 4 years
- No lock in period
- Fair market value basis
BIJAK FUNDING PATTERN
The start up raised close to $ 12 million in series A funding in 2020.The valuation rests around $ 82 million.
Studies are of view that India’s agri-tech market would reach a $ 24.1 billion landmark by 2025 which itself is a clear cut indication towards making these start ups more efficient and productive. Right now; the sector is under 1% of market potential.
Start up like Bijak need to exert their full influence to reach to the top of the market to enjoy the benefits and thereby help the nation by strengthening its pillar’ agriculture in an innovative manner. The only way India can gain holistic development is through its root growth which will happen when the agriculture adopts technology to the fullest.