Pursuant to Regulation 30 of SEBI(LODR) Regulation,2015.we wish to inform you that Last Mile Enterprises Limited (LME) has officially launched a new joint venture with Agribid, under the ....
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Last Mile Enterprises Ltd has officially launched a new joint venture called 'AgriMile' with Agribid, a leading agri e-marketplace. AgriMile is a digital agri-tech platform offering farmers satellite-based crop monitoring, hyperlocal weather forecasts, portable soil testing kits, multilingual advisory support, and call-centre assistance. The JV combines Agribid's existing network of over 1.5 crore small and marginal farmers with LME's technology and infrastructure expertise. The platform is being piloted on a ₹500 per farmer per year subscription model, with the company projecting potential recurring annual revenue of ₹750 crore if it captures just 10% of India's 15 crore farmers. The JV was officially introduced at the Sankalpam 2025 event in Chennai. Future phases plan to add seeds, fertilizers, crop insurance, agri-financing, and direct market linkages.
This opens a new agri-tech vertical for the company with a low customer acquisition cost base thanks to Agribid's existing 1.5 crore farmer network. While the revenue projections are ambitious and largely forward-looking, it diversifies the business beyond LME's current consumer electronics, coatings, and real estate segments, which could be viewed positively by the market.