Total amount raised
$22.3 Million
Latest funding date
05/01/2024
Location
Gramophone has successfully navigated 8 funding rounds, attracting a total of 17 investors, including notable names like Z3Partners and Info Edge. The company offers a comprehensive tech platform designed to empower farmers with data-driven solutions, from sowing to selling.
Keep reading to explore the intricacies of Gramophone's fundraising journey and the investors backing this innovative platform.
What Is Gramophone?
Gramophone is an agritech company based in Indore, Madhya Pradesh, India. The company operates in the Agriculture, AgTech, Farming, and Internet industries, focusing on empowering farmers through innovative technology solutions.
With an employee count of 501-1000, Gramophone offers a full-stack tech platform that supports farmers from sowing to selling. Their services include agronomy intelligence, doorstep delivery of agricultural inputs, personalized farm management, a digital marketplace, a social network for farmers, and soil testing services.
Gramophone's mission is to increase farmers' earnings and improve crop productivity, impacting millions of farmers and acres of land across India. The company has received several accolades for its contributions to digital farming technology and agritech innovation.
How Much Funding Has Gramophone Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support early-stage development and operational setup.
- Angel Round
- Amount Raised: USD 1,500,000
- Date: May 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support early-stage development and operational setup.
- Seed Round
- Amount Raised: USD 1,000,000
- Date: March 2018
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and enhance technological capabilities.
- Series A
- Amount Raised: USD 3,500,000
- Date: August 2019
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and enhance technological capabilities.
- Series B
- Amount Raised: USD 3,400,000
- Date: December 2020
- Lead Investors: Siana Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and enhance technological capabilities.
- Series B
- Amount Raised: USD 10,000,000
- Date: October 2021
- Lead Investors: Z3Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Geographic expansion, marketing, technology development, and mergers and acquisitions.
- Corporate Round
- Amount Raised: INR 93,100,000
- Date: January 2023
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance technology platform and expand geographically.
- Series Unknown
- Amount Raised: INR 150,000,000
- Date: May 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance technology platform and expand geographically.
Total Amount Raised: USD 19,400,000
Current Valuation: Not publicly disclosed
Key Investors
- Z3Partners
- Details: Z3Partners is a venture capital firm that invests in early to growth-stage technology and technology-enabled businesses. They led the $10 million Series B funding round for Gramophone.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: DealShare, Cyfirma, Ofbusiness.
- Info Edge
- Details: Info Edge is a publicly listed company in India, known for its online classifieds businesses in recruitment, matrimony, real estate, and education. They have been a long-term partner with Gramophone.
- Investment Focus Areas: Internet-based businesses, technology startups.
- Notable Investments: Zomato, PolicyBazaar, Naukri.com.
- Asha Impact
- Details: Asha Impact is an impact investment platform that invests in social enterprises. They focus on sectors that drive social change.
- Investment Focus Areas: Agriculture, financial inclusion, education, healthcare.
- Notable Investments: Not specified.
- Siana Capital
- Details: Siana Capital is a venture capital firm focused on investing in technology-driven businesses. They led a $3.4 million funding round in December 2020 for Gramophone.
- Investment Focus Areas: Deep tech, agritech, technology sectors.
- Notable Investments: Not specified.
- Chona Family Office (Havmor Group)
- Details: The Chona Family Office is associated with the Havmor Group. They are new investors in Gramophone.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for Gramophone?
Gramophone stands at the cusp of significant growth opportunities, driven by technological development, geographic expansion, and strategic mergers and acquisitions. With the Indian agritech market expected to reach $24.1 billion by 2025, the company is well-positioned to tap into this potential. The recent $10 million funding round led by Z3Partners will fuel these initiatives, empowering local agri-entrepreneurs and enhancing transparency in the agricultural sector.
Future fundraising opportunities appear promising as Gramophone continues to scale its operations and develop new technologies. The company's aggressive growth plans and the increasing investor interest in agritech suggest that additional funding rounds are likely. However, challenges such as competition from other agritech startups, managing the complexities of mergers and acquisitions, and ensuring the scalability of technological solutions will need to be navigated carefully.
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