Funding Alert

Sustainable agriculture company Grow Indigo raises $8 million in funding

• ByStartupStory     |    January 30, 2024

Sustainable agriculture firm Grow Indigo has recently announced a successful funding round, securing over USD 8 million (approximately Rs 67 crore) in investment. This brings the company’s cumulative capital raise to over USD 23 million (around Rs 191 crore). The funding attracted interest from global investors, including contributions from Indigo Ag, Mahyco, and individual backers (source).

Established in 2018 as a collaboration between Indigo Ag and Mahyco, Grow Indigo focuses on sustainable agriculture and operates a carbon farming platform tailored for smallholder farmers in India. The platform includes four carbon programs across 13 states, collectively aiming to reduce or eliminate emissions by 20 metric tons of CO2 annually from the agricultural sector. Currently, around 800,000 acres have been enrolled in the company’s programs.

Usha Barwale Zehr, Executive Chairman of Grow Indigo, highlighted the company’s commitment to sustainability and the successful adoption of biological inputs and carbon solutions at a significant scale by farmers (source).

The success of this funding round reflects the growing recognition and support for initiatives prioritizing sustainable agricultural practices. With this financial backing, Grow Indigo aims to drive further innovation and promote environmentally conscious farming practices across the agricultural landscape in India.

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