Agtech start-up Grow Indigo, which focuses on nature-based solutions to address the challenge of climate change has raised over $6 million in the recent funding round. With this, the company has a cumulative capital of over $13 million. The round saw interest from investors globally including participation from Indigo AG, Mahyco and HNIs.

Grow Indigo has conceptualised the concept of farming carbon as a crop for small-holder farmers in India. When implemented on 120 million acres (i.e. about one-third) of cropland in India, a 1 per cent increase in soil carbon would remove 7+ gigaton carbon dioxide equivalent from the atmosphere.

First-of-its-kind

Grow Indigo has built an alternate source of sustainable income for the farmers, through the sale of carbon credits generated by them by adopting regenerative practices. Being the first-of-its-kind project for small-holder farmers, launched in 2021, the company expects to enrol over 3.5 million acres over the next two years, a company statement said.

Carbon, as a new crop, could become the 5th largest agri-commodity in the country and is expected to generate $7 billion additional income annually for small-holder farmers by 2030. This will significantly reduce GHG emissions and help companies meet their climate pledges. 

To facilitate and scale up this programme, faster, Grow Indigo has invested significantly to build a large library of useful microbes, which enables farmers to reduce their chemical inputs and increase their ability to generate carbon credits. Grow Indigo’s proprietary microbial consortia already covers 4 million acres. Grow Indigo’s network and digital platforms already connect with over one lakh retailers and FPOs, and 10 million farmers.

“With sustainability at its core, Grow Indigo will continue to scale-up carbon farming in India”, said, Usha Barwale Zehr, Executive Chairman of Grow Indigo.  

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