Grow Indigo, the Mumbai-based agritech start-up has successfully raised over $8 million in its latest funding round, bringing the total cumulative capital to an impressive $23 million. The funding round witnessed enthusiastic participation from global investors, featuring contributions from key players like Indigo Ag, Mahyco, and individual investors.
Grow Indigo Driving Sustainable Agriculture
The funds secured by Grow Indigo aim to propel the evolution of sustainable agriculture practices in the country. The start-up is a collaboration between Indigo Ag and Mahyco since 2018 and specialises in providing agritech solutions to address climate-induced challenges in agriculture.
Grow Indigo Carbon Farming Platform Impact
Grow Indigo also operates a carbon farming platform tailored for smallholder farmers across 13 states in India. Currently hosting four carbon programs, the platform aims to collectively reduce or eliminate emissions by a substantial 20 million metric tons of CO2 annually from agricultural activities. The company has already enrolled around 800,000 acres in its programs, showcasing a commendable commitment to environmental stewardship.
Grow Indigo Expanding Reach and Impact
With connections to over 10 million farmers, along with a vast network of over 100,000 retailers and Farmer Producer Organisations (FPO), Grow Indigo has become a driving force in the sustainable agriculture landscape. The company has set ambitious targets, aiming to onboard farmers collectively holding more than 3.5 million acres of land over the next two years.
Grow Indigo's Executive Chairman, Usha Barwale Zehr, emphasised the company's dedication to sustainability, noting, "With sustainability at its core, we have now demonstrated adoption of biological inputs and carbon solutions at scale by farmers."
Government Support and Initiatives
The success of Grow Indigo aligns with the Indian government's proactive stance toward supporting agritech start-ups. Recent initiatives include plans to allocate funds in the upcoming budget for low-interest loans to agritech start-ups. The government is also exploring policies to facilitate infrastructure development in the agriculture sector, including micro-cold storage to address supply chain challenges.
As per industry projections, India's agritech sector is poised to reach a staggering $24.1 billion by 2025, further highlighting the immense potential and growth opportunities in this critical segment.
