Indore, MP-based Gramophone, an Agri tech startup which offers farm management solutions to farmers has announced securing $3.5 million Series A capital from Info Edge, Myntra.com co-founder Raveen Sastry, Asha Impact and Better Capital. Prior to this round, Info Edge had infused $1 million in the company in March last year. The current financing in the firm takes the total amount raised by the company to $4.4 million.
Launched in 2016 by Ashish Rajan Singh, Harshit Gupta, Nishant Mahatre, and Tauseef Khan, the firm offers doorstep consultancy solutions to the farmers in agronomy during the drop cycle through the mobile app. The app developed by the firm also offers insights on crop diseases and nutrition, prices, and weather information. Notably, the platform uses AI and machine learning abilities to identify disease through image recognition technology developed by the company.
Tauseef Khan, the CEO of the firm talking about the company and the latest investment said, “Gramophone is on a mission to create a future of farming that puts ‘Farmers First’ by democratizing knowledge, building transparency in transactions, and creating a connected ecosystem for farmers’ business. We are excited to see how farmers are adopting newer opportunities to maximize their income. This investment will enable us to invest aggressively in the product, data science, and scale operations across geographies.”
Info Edge's Kitty Agarwal talking on what made them invest again in the company said that “The company has shown tremendous growth and witnessed strong adoption among the farmer community since we first invested a year ago.”
Asha Impact's Kartik Desai said that they were impressed by the team of Gramophone. “We were impressed by the Gramophone team’s intuitive understanding of customers’ needs, and by their ability to build a highly effective and scalable platform. We are excited to partner with them as they tap into this vast and underserved market," Desai added.
Image Courtesy :gramophone