Startup Investments (Holding) Ltd (SIHL), a wholly owned subsidiary of Info Edge, has agreed to invest about Rs 9.31 crore in Agstack Technologies Private Limited - Gramophone.
Gramophone is a full-stack agritech platform for farmers. In an omnichannel model, the company offers agricultural inputs to farmers both directly and through local merchants. Additionally, it helps farmers sell their produce to customers by giving them advice on crop and farming procedures.
"This follow on investment by the company (Info Edge) through SIHL is in furtherance of company’s investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term," said the company in a press filing.
The aggregate shareholding of Info Edge through SIHL in Gramophone, after this investment, would reach 32.89 percent on fully converted and diluted basis.
The agritech startup's turnover amounted to Rs 181.1 crore in 2021-22.
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