Growcoms, a B2B agritech business, has raised $3.5 million in a fundraising round led by JSW Ventures and Arali Ventures, supported by InfoEdge Ventures, a previous investor.
The agritech firm focusing on spices announced that it will utilize the additional funding to expand its range of products and enhance its technological stack, enabling traceability for exports and the development of value-added spices.
Growcoms cofounder and CEO Kurian said, “The investment and partnership with like-minded investors will surely help Growcoms strengthen its global presence and enhance efficiencies throughout the value chain.”
Growcoms claims that during the past two years, it has increased the size and reach of its business. It has sourcing centers in all of the main locations that produce spices, verified suppliers that can transform raw materials into additional value spices, and it can meet needs from markets all over the world.
Commenting on the investment, Sachin Tagra, managing partner at JSW Ventures, said, “Growcoms’ full stack approach to manage the entire spices value chain with a tech led intervention can create value for all stakeholders. This organisation of the industry will also directly lead to an increase in realisations at the farmer level. This investment will further enhance Growcoms’ capability to capitalise on the spice’s opportunity with traceability solutions at the forefront of this business.”
Growcoms Private Limited was established as an end-to-end value chain manager in response to the pressing need to streamline the value chain in the agricultural commodities sector and give clients transparency and traceability.
Growcoms was founded on the principle that buyers should have flexibility in selecting the right value chain partner. Growcoms Private Limited is dedicated to facilitating our clients’ supplier selection process at every stage of the value chain.