Agritech startup Growcoms raises $1.1 million in Series A round of funding
- ByStartupStory | July 21, 2022
Growcoms, a Kochi-based agri-tech firm funded by the Kerala Startup Mission and incubated at Indigram Labs Foundation, has raised $1.1 million in pre-Series A funding led by Info Edge. The funds will be used to expand the tech platform and expand its market reach. Furthermore, the company intends to facilitate cross-border trading and strengthen the traceability and transparency of the spice value chain.
Growcoms’ founder and CEO, George Kurian Kannanthanam stated, “The company focuses on raising farmer awareness about improving product quality and thus earning the best price for their products. Growcoms aims to become a one-stop shop for Indian spices and value-added products, popularising them globally via the use of technology. The company also provides agronomy, product development, and market connections.”
Chinmaya Sharma, partner at Info Edge stated, “We feel that the Growcoms team is well positioned to meet the needs of domestic and international spice and oleoresin buyers. We are eager to work with the team to solve fragmentation in the spice supply chain by aggregating spare capacity, strengthening market linkages for the unorganised sector, and introducing product traceability for international trade.”
About Growcoms:
Growcoms was founded in 2021 by George Kurian Kannanthanam, Bibin Mathews, and Narendranath P with the goal of improving efficiencies across the complicated nodes in the highly fragmented spices value chain. The founders are familiar with the gaps prevalent in the overall value chain, having worked in firms like ITC, Tata Coffee, AB Mauri, and Synthite, and the company seeks to provide a technology-based solution for some of the prominent difficulties in the spices B2B arena.
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