Agritech company, Gramophone which amasses INR 24.78 crore in its series A funding round from a cohort of investment companies, according to a media report.
The investors who participated in the round include Info Edge (India) Ltd, impact investment firm Asha Impact and Better Capital, Gramophone said in its statement, told the daily news, VC Circle.
Further, Raveen Sastry, the co-founder of fashion portal Myntra.com, also infused money in the Series A funding round of the company.
Gramophone, which is administered by Agstack Technologies Pvt. Ltd was established in 2016 by Nishant Mahatre, alumni of IIT-Kharagpur and Tauseef Khan, alumni of IIM-Ahmedabad. Both the founders have worked in VC funds as well as agri-tech companies.
In 2018, Info Edge, which runs 99acres.com and Naurkri.com, had infused money in Gramophone in its pre-Series A funding round.
In 2017, the agritech startup had amassed $1.5 million as an angel investment from a group of investors.
Gramophone renders consultancy services to the farmers on their convenience throughout the crop cycle via its application. The app offers information about crop nutrition, crop diseases, prices, and weather.
Further, the startup has released a prototype image recognition technology, which uses AI and machine learning to recognize ailments in crops.