India based Agritech startup Gramophone raises USD 10 million in Series B round

Gramophone, a Full-stack agritech platform, raised USD 10 million in a Series B funding round led by Z3Partners on 26 October 2021.

Investors: Z3Partners, an early growth investor, led the latest funding round with participation from Amit Sharma from erstwhile Sunrise Group, Sumeet Kanwar from Verity, and Chona Family Office (Havmor Group). In addition, existing investors, including Info Edge, Asha Impact, and Siana Capital, also participated in the round. 

The Objectives behind the funding: The company plans to deploy current proceeds for geographic expansion, marketing, technology development.

About Gramophone

Founded in 2016 by IIT and IIM alumnus Tauseef Khan, Nishant Vats Mahatre, Ashish Ranjan Singh and Harshit Gupta, Gramophone is a data-driven full-stack technology platform that makes farming intelligent and empowers farmers to double their income. Gramophone is a one-stop solution for all kinds of inputs for the farmers. Farmers can buy genuine crop protection, crop nutrition, seeds, implements, and Agri hardware at their doorstep. With the Gram Vyapaar feature, Gramophone facilitates farmers to sell crops to vyapaaries directly all across the country.

What the Founder has to say:

“Our mission is to improve the profitability of the farming ecosystem across India. We are building a new age Agriculture Company keeping farmers at the centre. We have seen a huge shift in the adoption of technology solutions by the new-age farmers. With this investment, we will double down on investing in technologies that lower costs, improve transparency and empower the local community of Agri entrepreneurs with more earning opportunities in rural areas,” Tauseef Khan, co-founder and CEO, Gramophone, said. “With this investment, we will double down on investing in technologies that lower costs, improve transparency and empower the local community of Agri entrepreneurs with more earning opportunities in rural areas. We are excited to welcome Z3Partners and other new investors in this journey and deepen our partnership with Info Edge, Asha Impact and Siana Capital,” he added.

What the Investors have to say:

“We at Z3PARTNERS are very excited to partner with Gramophone on this journey of bringing e-commerce to Rural India. Tauseef, Nishant, and Harshit’s understanding of Agri-Sciences and eCommerce and their relationships with Farmers as their end customers has been instrumental in their growth and success so far.” Gautam Patel, Managing Partner, Z3Partners.

Kitty Agarwal, Partner at Info Edge Ventures, added, “We have now been partners with the Gramophone team for nearly four years and have seen tremendous growth in their evolution from being an advisory led input commerce company to a full-stack Intelligent Farming platform that does end-to-end input to output linkage for farmers and retailers.”

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