Indore Based Agritech Startup Gramophone Raised $1Mn Series A Funding From Info Edge
Indore based Agritech startup, Gramophone running under Agstack Technologies, has raised Series A funding of $1 million by Info Edge. Gramophone is a technology-based marketplace capable of making farm management efficient.
The raised capital will be used into technology development, team building and customer acquisitions. It also plans to open a tech centre in Bengaluru, which will bring the agritech startup closer to the technology ecosystem.
The Indore-based platform has earlier received angel funding from Ravi Garikipati, Chief Technology Officer at Flipkart; Ajith Pai of GreenEarth and others.
Agritech startup Gramophone was founded in 2016 by IIT Kharagpur graduates Nishant Vats, Tauseef Khan, and IIM Ahmedabad alumnus Harshit Gupta in Indore.
“We needed the new investment to accelerate the expansion process. Currently, we have around 60,000 farmers on our platform. We are aiming to increase the number to close to a million in the next 12 months,” said Tauseef Khan, Co-founder at Gramophone.
The startup uses soil mapping, geo-tagging and imaging solutions to provide right kind of information and solution to farmers.
It provides the services to farmers through a toll-free number. The farmers can give a missed call to the company’s number and they receive a call-back from the company’s experts, who offer them advice and provide suitable solutions.
Last year, Bengaluru-based agritech startup KrishiHub raised seed funding led by IIT Kanpur INVENT accelerator and Villgro Innovation Fund. The AI-enabled startup is building an agricultural ecosystem with the implication of technology, design, and data science for Indian farmers.
Recently, Indian agritech startup, Agricx Lab running under AgricxLab Pvt. Ltd., has raised a seed round of funding of $0.5 Million led by Ankur Capital, an India focused VC fund with a significant AgriTech portfolio.