We are discussing an Agritech Startup, Gramophone to Receive RS 15 Crore Investment From Info Edge:
Info Edge is an internet service company known for its presence in India’s startup ecosystem. The company disclosed that it will increase its stake in Gramophone by investing Rs 15 crore in the agritech startup. The exchange filing mentioned that the investment would be made in two tranches over six months. Here, we are talking about an Agritech Startup, Gramophone to Receive RS 15 Crore Investment From Info Edge.
The founder of Info Edge, Sanjeev Bikchandai, mentioned during a meeting that the company is leading this funding round and that Gramophone will focus on breaking, highlighting the cautious optimism about the startup’s future growth. Next month, Info Edge will move with the first part of investing Rs 7.5 crore, and the remaining amount will be released within the next six months, meeting the conditions in the exchange filing. Gramophone was formed by Nishant Mahatre and Tauseef Kha to offer crop protection, seeds, implements, crop nutrition, and agriculture technologies. This full-stack agritech startup offers a platform with an in-built omnichannel model to support farmers.
This agritech startup had an annual turnover drop of 69% in FY24. Even after losing 58 crore, the company increased by 76.2%, from 172 to 303 crore. This Agri-tech startup uses data-driven technology to offer a secure platform for farmers. Farmers and dealers can reach each other directly using this platform. With an investment of Rs 15 crore, Info Edge’s subsidiary startup investments would take up the 39.5% stake in this agritech startup. The CEO of Info Edge mentioned that they will increase their stake in this agritech startup with an investment of $1.8 million.
Info Edge also mentioned in the exchange filing that it is about investing in the parent company of Gramophone, Agstack Technologies, via its wholly-owned subsidiary startup in two tranches. According to a report by Inc42, the filing further said that SHL agreed to acquire about 69790 compulsory convertible cumulative preference shares that make a face value of Rs 10 each as part of a larger round in the two tranches. Info Edge is an existing investor in Gramophone and is continuously increasing its stake in the startup. Last year, they also approved investing Rs 9.3 crore to increase their stake by 32.8%.
FAQ’s
What is a Gramophone?
Gramophone is an agritech startup that provides farmers with digital solutions, including agronomic advice, access to input products, and market linkages to enhance productivity and profitability.
Who founded the Gramophone?
Gramophone was founded in 2016 by Tauseef Khan and Harshit Gupta.
What is the recent news about investment in Gramophone?
Info Edge is investing Rs 15 crore in Gramophone to support its expansion and technological advancements.
What is Info Edge?
Info Edge is an Indian internet company known for investing in successful startups like Zomato and Policybazaar.
How will Gramophone use the Rs 15 crore investment from Info Edge?
Gramophone plans to use the investment to scale its operations, improve its technology infrastructure, and expand its reach to more farmers.
What services does Gramophone offer to farmers?
Gramophone offers personalized agri-advisory services, access to high-quality agricultural inputs, and market linkages to connect farmers with buyers.
How will the investment from Info Edge impact Gramophone’s growth?
The investment will accelerate Gramophone’s growth by expanding its services to more regions, improving its technology platform, and strengthening market linkages.
Conclusion
Info Edge discloses increasing its stake in Gramophone by investing Rs 15 crore in the agritech startup Gramophone. As the Gramophone was looking for additional funds, Info Edge agreed to invest in them in two tranches of 6-month intervals each. Gramophone is a full-stack agritech startup offering a platform with an in-built omnichannel model to support farmers. Info Edge’s additional investment in Gramophone highlights the growing confidence in the agritech startup’s business model and potential for growth. According to the exchange filing, the company will provide investments in two tranches. Info Edge will move with the first part of investing Rs 7.5 crore next month, and the remaining amount will be released in the next six months.
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