Grow Indigo, a science-based sustainable agritech startup, has raised ₹83 crore (approx. $10 million) from British International Investment (BII), the UK’s development finance institution and impact investor.
The funds raised will be used to expand its carbon farming business across India.
Usha Barwale Zehr, Executive Director of Grow Indigo, said, “Regenerative agriculture is the future of farming, not only for improving soil health but also for creating improved livelihoods for millions of smallholder farmers,” Dr. Usha Barwale Zehr further added. “With this funding, we will accelerate farmer enrolment and scale carbon farming initiatives. Maintaining the integrity of the carbon credits generated is of utmost importance to us, and we will bring maximum value to farmers with our science-backed MRV offerings. We look forward to working with BII to further our common objectives.”
Srini Nagarajan, Managing Director and Head of Asia at BII, said, “Rice, wheat, and maize are staple foods in India, cultivated by numerous smallholder farmers who are vulnerable to the impacts of climate change. We are proud to support innovative businesses like Grow Indigo that address adoption barriers by harnessing the potential of carbon markets. This initiative not only reduces carbon emissions but also enhances farmers’ climate resilience and increases their incomes. This is aligned with the Government’s policies to support regenerative practices.”
Founded in 2018 by Mahyco and Indigo Ag, USA, Grow Indigo is engaged, in the business of research and development, production, processing and marketing of biologicals and linking farmers to voluntary carbon markets by farmer enrolment, advisory, monitoring, reporting and verification of regenerative agricultural practices adopted by the farmers for carbon removal units and sustainable produce.
Grow Indigo has a presence across 16 states with 2000+ distribution partners and a 600+ feet on-ground team offering products from seed treatment to harvest. Grow Indigo has over 2.5 million acres of smallholder farmland enrolled across seven states.
