Agritech Startup Growcoms Raises $1 Million Pre-Series A Fund The company intend to use the funding to scale up the tech platform and enhance the market reach
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Growcoms, Kochi-based agritech startup supported by Kerala startup mission and incubated in Indigram Labs Foundation, has raised $1.1 million in pre-Series A funding round, led by Info Edge. The company intend to use the funding to scale up the tech platform and enhance the market reach. Besides, the firm plans to facilitate cross-border trade and further strengthen traceability and transparency of the spices value chain.
"The company focuses on creating awareness among farmers about enhancing the quality of produce and thus getting the right value for their products. Growcoms is striving to become a one-stop shop of Indian spices and its value-added products, thereby popularizing them globally by leveraging technology. The firm also facilitates services in agronomy, product development and market linkages," said George Kurian Kannanthanam, founder and CEO, Growcoms.
Founded in 2021 by George Kurian Kannanthanam, Bibin Mathews and Narendranath P, the vision of Growcoms is to improve efficiencies across the complex nodes in the highly fragmented spices value chain. Having worked in companies like ITC, Tata Coffee, AB Mauri and Synthite, the founders are familiar with the gaps prevalent in the overall value chain and the company aims at providing a technology-based solution for some of the prominent issues in the spices B2B domain.
"We believe the Growcoms team is uniquely positioned to address the requirements of domestic as well as international spice and oleoresin buyers. We are excited to partner with the team as they solve fragmentation in the spice supply chain through aggregation of spare capacity, improve market linkages for the unorganized market and introduce product traceability for international trade," said Chinmaya Sharma, partner, Info Edge.