Spice tech company Growcoms has secured $3.5 million today in a new funding round co-led by JSW Ventures and Arali Ventures along with participation of existing investor InfoEdge Ventures.
Growcoms had previously raised $1 million from InfoEdge Ventures. This is the maiden investment in the Agritech space for both JSW Ventures and Arali Ventures.
The company plans to use the fresh funds for bolstering product portfolio and technology stacks to build key capabilities in enabling traceability for exports and value-added spices, Growcoms stated in a press release.
Co-founded in 2020 by George Kurian Kannanthanam, Narendranath P and Bibin Mathews, Growcoms aims to improve the spices value chain by optimising production capabilities, empowering farmers, and supplying traceable spices to global markets through a digital route.
According to Growcoms, it has expanded the scale and scope of its operations during the last two years. It has sourcing hubs across all the major spice producing regions, vetted suppliers for carrying out transformation into value added spices as well as demand from markets across the globe.
The company currently caters to a variety of customers spanning food companies, flavour houses, FMCG companies and seasoning brands.
Growcoms was incubated by Indigram Labs in 2021.
