Agritech startup Gramophone has raised Rs 25 crore in a funding round led by Siana Capital
The fresh capital will be aimed for customer acquisition and to build an agronomic intelligence-backed full-stack platform for farmers.
Indore headquartered Agstack Technologies, which runs agritech platform Gramophone, has raised $3.4 million (Rs 25 crore) in a Series B funding round. The round was led by deep tech investor Siana Capital, with participation from returning investors Info Edge, Asha Impact and Better Capital. This brings the total capital raised by Gramophone to date to Rs 55 crore.
The fresh capital will be aimed for customer acquisition and to build an agronomic intelligence-backed full-stack platform for farmers. Agronomy deals with the science and technology of growing and utilising plants in agriculture for food, fuel, fiber and land restoration.
Founded in 2016 by Tauseef Ahmad Khan, Nishant Vats Mahatre, Harshit Gupta and Ashish Rajan Singh, Gramophone aims to offer farmers an interactive platform to help them improve agricultural practices and realise better yields. The platform also provides farmers products such as seeds, fertilisers, nutrients, pesticides and farming equipment.
It last raised funds in August 2019 in a $3.38 million Series A funding round, preceded by a $1 million bridge round in March 2018.
Info Edge Ventures is a Rs 750 crore early-stage venture capital fund backed by Info Edge and had received a commitment of Rs 375 crore from Temasek, a global investment company headquartered in Singapore. The fund, which was launched in January 2020, focuses on investments in early-stage technology startups in India.
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