Gramophone, An Indore-Based Agritech Startup Raises $3.5 Million

Gramophone Founders

India has seen spectacular growth in the Agritech sector where numerous start-ups have come up with different ideas, new technologies, and innovative methods.

The needs of the farmers need to be catered through techniques like Data Analytics, satellite imaging as well as machine learning to help them produce maximum output.

India is a country where farmers play a significant role and the heavy dependence on agriculture is their primary source of income.

Due to the presence of problems such as related to lands, irrigation, uncertain seasonal changes, unavailability of seats, or scarcity of the capital, the farmers are under a mountain of problems which has led them to let their produce go away at cheap prices.

See Also: Slurrp Farm, A Gurugram Based Startup Raises $2 Million In Series A From Fireside Ventures

About Gramophone

Agritech start-up, Gramophone, is one such exemplary example that has paved a way for the Indian farmers in need.

Gramophone is an intelligent platform for the farmers which gives them access to a variety of equipment and inputs like seed, fertilizers, pesticides, nutrients, etc.

The platform for helping the farmers was found in 2016 when IIM Ahmedabad graduates, Nishant Vats Mahatre, Tauseef Ahmad Khan, Harshit Gupta, and IIT Madras graduate, Ashish Rajan Singh, decided to bring a little help to the backbone of India.

Gramophone Founders

The platform is designed to help the farmers by giving them advice on various crops as well as what crops to grow according to the weather conditions, named as ‘Safal Program’ or another help named as ‘Samridhi Kit’ which contains micro-organisms which will help in their soil nourishment.

The company has claimed that its involvement in the sector has made it possible for the farmers to gain up to 20% cost-benefit.

An increase in the yield by their advisory to the farmers has also increased by 40%.

The Gramophone initiative was to maximize the incomes of the farmers by giving them better and expert advice in the agricultural sector.

By providing an improved practice of farming to the farmers, Gramophone has claimed that they have influence 5,50,000 farmers to increase their income.

Gramophone Raises Rs 25 Crore

Gramophone has raised a total of $4.5 Million in the previous three rounds from 10 investors. In their last series A funding round, led by Info Edge, they raised $3.5 Million.

They have recently raised $3.4 million in a funding round led by Saina capital. Saina capital is a venture capital fund headquartered in Bengaluru.

Gramophone’s existing investors were also seen participating in the funding round. Their existing investors include Info Edge, Asha Impact, and Better Capital.

See Also: Pine Labs Raises Fresh Funds From Lone Pine, Company’s Valuation Reaches Over $2 Billion 

Kritika
Student with ambitions, writer with ideas.