GROWiT India, a Surat-based agritech startup, has raised $3 million in a Series A funding round led by GVFL. The round also saw participation from Veloce Opportunities Fund, JITO, We Founder Circle, Sunicon Ventures Fund, Progrowth Ventures and Hyderabad Angels.
The fresh funds raised will be used for expansion plans, deepening its R&D capabilities, and strengthening its technology infrastructure to serve farmers more effectively. GROWiT plans to improve domestic market penetration and expand into international markets by scaling exports to Africa and other emerging markets.
Founded in 2020 by Saurabh Agarwal and Akshay Agarwal, GROWiT India is the agricultural arm of Alpha Plastomers and manufactures advanced and innovative products that ensure optimum quality and yield for the Indian Agricultural & Farming Industry while lowering its carbon footprint.
GROWiT offers soil-to-harvest solutions products including a soil health testing device, mulch films, crop covers, weed mats, and more. These tools are intended to support farming practices by helping improve productivity and reduce input costs.
GROWiT currently operates across 12 states in India and works with over 650 franchise partners. It claims to have engaged with more than 225,000 farmers.
Mihir Joshi, Managing Director, GVFL, said, “Agriculture in India still lags behind in terms of technological advancements. GrowiT has a large innovation product portfolio and pan India distribution channel. They are helping farmers grow more and earn better by focusing on solving these key problems at an affordable cost and easy accessibility. They are making climate-friendly, sustainable farming methods more affordable and effective. As a fund, this is a key focus area for us and we see GROWiT as a strong player emerging in this segment.”
Saurabh Agarwal, Founder & CEO, GROWiT said, “With climate change emerging as a huge challenge in the agriculture sector, it is essential that we build resilience with the help of technology. Majority of India still depends on agriculture however the sector is still starved of technology due to it being inaccessible or too expensive. At GROWiT, our commitment is towards developing sustainable agriculture with optimization of productivity by making available affordable tools like India’s First Pocket-Friendly Soil Health Testing Device, which provides soil composition insights and crop recommendations tailored to soil types. GROWiT aims to transform agriculture by increasing yields, cutting input costs, and driving sustainable farming, positioning us as a comprehensive, one-stop solution for farmers.”
