Agritech startup Growcoms to enhance market reach, raises USD 1 million from investors

Agritech startup Growcoms has raised USD 1 million (about Rs 7 crore) from investors, including Info Edge, to scale up operations.

Kochi-based Growcoms, in a statement, said that it has secured USD 1 million investment in Pre-Series A round fund raising.

The firm is supported by Kerala Startup Mission and incubated in Indigram Labs foundation.

"The company intends to use this 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," it added.

Growcoms was founded in 2021 by George Kurian Kannanthanam, Bibin Mathews and Narendranath P.

The company focuses on creating awareness among farmers about enhancing the quality of produce and thus getting the right value for their produce, said Founder and CEO Kannanthanam.

In the last few years, agritech startups have raised significant investments on the back of increased usage of technologies in the agriculture sector.