Z3 Partners leads $10 Mn round in agritech startup Gramophone

Agritech startup Gramophone has raised $10 million in its Series B round led by Z3Partners. Existing backers Info Edge, Asha Impact, Siana Capital along with new investors have also participated in the round.

The startup had raised $3.4 million led by Siana Capital in December 2020. 

According to the Indore-based startup, the funds will be used in geographic expansion, marketing, technology development and mergers and acquisitions.

Founded in 2016 by Nishant Mahatre and Tauseef Khan, Gramophone acts as an e-commerce marketplace for farmers and provides agronomy services and input and output products in states like Madhya Pradesh, Chattisgarh, Maharashtra, and Rajasthan.

So far the year 2021 has been quite good for agritech startups. Last week, FarMart, a SaaS-led food supply chain platform, had raised $10 in a funding round led by Matrix Partners India.