[Funding alert] Agritech startup Grow Indigo raises $6 Mn funding

Agri-tech startup Grow Indigo has raised over USD 6 M in the recent funding round with a cumulative capital raise thus far of over USD 13 M. The round saw global investors’ interest, including participation from Indigo, Mahyco and HNIs.

Grow Indigo has conceptualized the concept of farming #carbon as a crop for smallholder farmers in India. When implemented on 120 M acres (i.e. about one-third) of cropland in India, a 1% increase in soil carbon would remove 7+ gigaton carbon dioxide equivalent from the atmosphere.

Read also – We Founder Circle Plans To Invest In 200 Startups In 2023

“With #sustainability at its core, Grow Indigo will continue to scale up carbon farming in India”, said Usha Barwale Zehr, Executive Chairman of Grow Indigo. Our company has attracted acted a talented team of 200 Agronomists, Data Scientists, Engineers/Techies, a Sales team, and Researchers committed to solving climate crises through agricultural interventions.

Grow Indigo has built an alternate source of #sustainable income for the farmers, through the sale of carbon credits generated by them by adopting regenerative practices. As a first-of-its-kind project for smallholder farmers, launched in 2021, the Company expects to enroll over 3.5 M acres in the next two years.

Read also – [Funding alert] Pre-loved South Asian brand Saritoria raises $500K mn after the success of their MVP in the first year of trading

Carbon, as a new crop, could become the 5th largest agri- commodity in the Country and is expected to generate USD 7 Bn annually additional income for smallholder farmers by 2030. This will significantly reduce GHG emissions and help companies meet their climate pledges.

To facilitate and scale up this programme, faster, Grow Indigo has invested significantly to build a large library of useful microbes, which enables farmers to reduce their chemical inputs and increase their ability to generate carbon credits. Grow Indigo’s proprietary microbial consortia already covers 4 M acres. Grow Indigo’s network and digital platforms already connect, with 100,000+ retailers, FPOs, and 10+ M farmers.

Read also – Revamp Moto becomes India’s first EV two wheeler company to launch in Metaverse! Bookings Open!

About Grow Indigo

Grow Indigo was established in 2018 by Mahyco Grow and Indigo Ag. Building on the technological innovation of the two market leaders they thrive to maximize farmer’s benefits. Their primary objective is to tackle the challenges farmers face every day and assist them to improve their yields, generate more revenue and implement sustainable farming practices.

Read also – Edology Partners with KPMG India – Introduces a 10-month Futuristic Course in Technology Management