your password has been reset successfully, Please login again.

Info Edge invests $1 million in agri-tech startup Gramophone

Agri-tech startup Gramophone raises $1 million funding in pre-Series A round led by Info Edge.
BY BEx Bureau
BusinessEx
Mar 07, 2018

The Indian digital agriculture services market is expected to reach $4.55 billion by 2020, as per Accenture report. In this space, the recent development is that an Indore-based agri-tech startup Gramophones has raised $1 million funding in pre-Series A round led by Info Edge which operates several portals like 99acres, Naukri, Jeevansathi, etc.

The company Info Edge will have 35 per cent stake in the startup after this investment as per companys stock exchange filings.

In 2016, the agri-tech startup Gramophone was founded by Nishant Vats and Tauseef Khan. The startup offers inputs through its platform to farmers throughout the cropping cycle. The startup plans to use the raised funding to expand its customer base to 1 million farmers within a year and also plans to improve its product offering.

Khan said, Gramophones Agronomic Intelligence provides the best farm management solutions to farmers by leveraging the power of image recognition, soil science, smart crop selection, and personalised information-led cropping system.

Kitty Agarwal, from Info Edge, said, We have invested in Gramophone because it has a great team working on an innovative concept. They are solving problems of real India by helping farmers in improving their livelihoods and awareness. Rural India is the next frontier of the internet where the impact can be tremendous.

Last year, the startup also raised $1.5 million funding from a clutch of angel investors.

Please add your Comment
SIMILAR News
September 22, 2018
The startup is planning to use the funds to primarily expand operations. ...More
By Vaishnavi Gupta
September 13, 2018
The raised funds will be used to build the brand, expand distribution, and increase product offering ...More
By Vaishnavi Gupta
September 07, 2018
New funds enable GreyOrange to accelerate the fulfillment of its vision to develop the next generati ...More
By Vaishnavi Gupta
September 06, 2018
JSW Steel and promoters have bought around 88% stake in the Monnet Ispat and Energy Ltd (MIEL). ...More
By Vaishnavi Gupta
September 06, 2018
The new infrastructure fund exceeds its initial target of $5 billion. ...More
By Vaishnavi Gupta
September 05, 2018
Miles Software provides wealth and asset management on-demand software to banks, asset managers and ...More
By Vaishnavi Gupta
September 05, 2018
Tonguestan works as an online marketplace and is a caterers and restaurants aggregation platform. ...More
By Vaishnavi Gupta
August 06, 2018
Nearby Technologies allows lakhs of retailers and merchants to offer bill payment service to their c ...More
By Shah Mohsin
August 06, 2018
The lender will deploy the funds to expand its presence across its already established markets as we ...More
By Shah Mohsin
August 04, 2018
The fresh funds will be used to accelerate product development, reach more customers and for client ...More
By Shah Mohsin
August 03, 2018
Presently, Goibibo comes with features like seat and meal selection, auto check-in and hotel reviews ...More
By Shah Mohsin
August 03, 2018
Ziffy Technologies run ZiffyHomes is functional only in Delhi-NCR and is looking to venture to other ...More
By Shah Mohsin