Agritech startup Grow Indigo has raised over $6 million in the recent funding round with a cumulative capital raise thus far of over $13 million, the company informed through a media release.
The round saw interest from investors globally including participation from Indigo AG, Mahyco and HNIs (High Networth Individuals).
Grow Indigo has conceptualized the concept of farming #carbon as a crop for smallholder farmers in India.
When implemented on 120 M acres (i.e. about one-third) of cropland in India, a 1% increase in soil carbon would remove 7+ gigaton carbon dioxide equivalent from the atmosphere.
Grow Indigo has built an alternate source of sustainable income for the farmers, through the sale of carbon credits generated by them by adopting regenerative practices.
As a first-of-its-kind project for smallholder farmers, launched in 2021, the Company expects to enroll over 3.5 M acres in the next two years.
To facilitate and scale up this programme, faster, Grow Indigo has invested significantly to build a large library of useful microbes, which enables farmers to reduce their chemical inputs and increase their ability to generate carbon credits.
Grow Indigo’s proprietary microbial consortia already covers 4 M acres. Grow Indigo’s network and digital platforms already connect, with 100,000+ retailers, FPOs, and 10+ M farmers.
Grow Indigo was established in 2018 by Mahyco Grow and Indigo Ag.
Building on the technological innovation of the two market leaders they thrive to maximize farmers’ benefits.
Their primary objective is to tackle the challenges farmers face every day and assist them to improve their yields, generate more revenue and implement sustainable farming practices.
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