Agritech Startup Gramophone Raises $10 Million In Funding
Full-stack agritech platform Gramophone has raised $10 million in a funding round led by Z3Partners, an early growth investor.
The funding round saw participation from existing investors Asha Impact, Siana Capital and Info Edge, who has doubled down in this round. New investors who participated in this funding round include Sumeet Kanwar from Verity, Amit Sharma from erstwhile Sunrise Group, and Chona Family Office (Havmor Group).
As per the startup, the newly raised funds will be used towards geographic expansion, marketing, technology development and M&A.
Gramophone | Making Farming Intelligent And Empowering Farmers
Founded by IIT and IIM alumnus Tauseef Khan, Nishant Vats Mahatre, and Harshit Gupta, Gramophone is a data-driven full-stack technology platform that makes farming intelligent and empowers farmers to double their income.
Started as agronomy led agri-input commerce company, Gramophone, in the last two years, has become a full-stack technology platform by adding premium farm management solutions and Gram Vyapaar, an output marketplace.
Speaking on the development, Tauseef Khan, Co-founder and CEO of Gramophone, said,
“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 more earning opportunities in rural areas. We are excited to welcome Z3Partners and other new investors in this journey and deepen our partnership with Info Edge, Asha Impact and Siana Capital.”
Offering a one-stop solution for all kinds of inputs for the farmers, Gramophone enables farmers to buy genuine crop protection, crop nutrition, seeds, implements, and Agri hardware at their doorstep.
Working directly with farmers, right from the pre-sowing stage to selling their crops, the startup helps them produce more crops in scientific ways.
As per the startup, over one million farmers are benefitting from Gramophone’s products and services. Owing to this, the startup has seen a 4x increase in revenues over last year and expects to grow aggressively.
Need legal assistance for your startup? Just contact us.