Kochi-based agritech startup Growcoms has raised $1 million (around Rs 7.8 crore) in pre-series A funding led by Info Edge.

As per the startup, the raised funds will be used to scale up its tech platform and expand its market reach. The agritech startup also plans to further strengthen the traceability and transparency of the spices value chain.  

Growcoms | Your Value Chain Partner

Founded by George Kurian Kannanthanam, Bibin Mathews and Narendranath P in 2021, Growcoms is working with a vision to improve efficiencies across the complex nodes in the highly fragmented spices value chain.

Speaking about the development, Kannanthanam, founder and CEO of Growcoms, said,

“The company focuses on creating awareness among farmers about enhancing the quality of produce and thus getting the right value for their produce. Growcoms is striving to become a one-stop-shop of Indian spices and its value-added products, thereby popularizing them globally by leveraging technology.”

Being an end-to-end value chain manager, the startup provides flexibility to the buyer in choosing the correct partner in the value chain. The agritech startup makes it easier for its clients to choose suppliers at any level of the value chain, be it at the farm level or for third-party manufacturing or shipments. 

Commenting on the development, Chinmaya Sharma, Partner at Info Edge Ventures, said,

“We believe the Growcoms founding team is positioned to address the requirements of domestic as well as international spice and oleoresin buyers. They can solve fragmentation in the spice supply chain through aggregation of spare capacity, improve market linkages for the unorganized market and introduce product traceability for international trade.”

Over the years, the agritech industry in India has grown exponentially. Now, India is home to more than 1,000 agritech startups. From January 2022-till now, several agritech startups, including Bengaluru-based Fyllo, Poshn, IoT-enabled agritech platform CultYvate and Gurugram-based Otipy, raised funds.

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