Agri Business

Agtech start-up platform Gramophone raises ₹75 cr

KV Kurmanath Hyderabad | Updated on October 26, 2021

Plans to expand the e-marketplace for farmers

Gramophone, an agri-tech platform offering end-to-end crop management solutions, has raised about ₹75 crore ($10 million) in a funding round led by Z3Partners.

The investment round also includes existing investors InfoEdge, Asha Impact and Siana Capital and new investors such as Amit Sharma, Sumeet Kanwar from Verity, and Chona Family Office (Havmor Group).

Expanding footprint

Gramophone Co-Founder and Chief Executive Officer Tauseef Khansaid said the start-up would use the proceeds on expanding its footprint, marketing, technology development and on mergers and acquisitions.

Founded by IIT and IIM alumnis Tauseef Khan, Nishant Vats Mahatre and Harshit Gupta, the firm provides an agronomy-advisory based electronic market place that allows farmers to procure vital inputs for their farms and sell their produce. It raised about ₹130 crore so far.

“With this investment we will double down on investing in technologies that lower costs, improves transparency and empowers the local community of agri entrepreneurs with earning opportunities in rural areas,” he said.

He said the space was unorganised though standalone services such as warehousing, inventory management and call centres were available. “We are offering all the services and products required for their farming,” he said.

The Indore-based start-up offers a gronomy services, input and output products in Madhya Pradesh, Chattisgarh, Maharashtra and Rajasthan on its e-commerce marketplace.

He said the firm was expanding the scope of the e-market place by roping in the OEMs that make inputs and other products for farmers.

He said about 10 lakh farmers have used the start-up’s technology-based solutions. “We have seen a huge shift in adoption of technology solutions by the new age farmers,” he said.

Published on October 26, 2021

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