202324 Jan

Info Edge Increases Stake In Agritech Startup Gramophone With INR 9 Cr Investment


The development comes more than a year after the startup raised $10 Mn in its Series B funding round led by Z3 Partners. The round also saw participation from existing investors Info Edge, Asha Impact, and Siana Capital.Gramophone, founded in 2016 by Tauseef Khan, Nishant Vats, and Harshit Gupta, is a full stack agritech platform for farmers. It also provides standalone services such as warehousing, inventory management and call centres.Apart from offering a mobile-based commerce marketplace, the startup also helps farmers with crop advisory and weather information. For instance, Info Edge recently acquired a majority stake in Coding Ninjas, a startup it backed in its early stages, for INR 135 Cr ($16.5 Mn)Info Edge, which earned a return of 1050X on its investment of INR 4.5 Cr in Zomato, is one of the most active investors in the Indian startup ecosystem. The Naurki.com owner invests in early-stage, tech-enabled startups across sectors like foodtech, insuretech, Web3, healthtech, fintech, edtech, agritech, and retailtech.As per Inc42s data, InfoEdge and its investment arm participated in 24 funding deals in the Indian startup ecosystem in 2022.

Source: Inc42


Jan 24 2023