Agarwal is building a guided protective farming ecosystem
GROWiT, a Surat-based protective farming agritech platform, says the recently raised Rs.3 crore from seed funding is for research and marketing processes, to expand customer base and produce standard quality cost-effective protective farming materials and products as well as strengthening an App for protective farming practices.
The locally raised seed fund round was led by Mehul Shah from IVY Growth. Other investors who joined the round are Coppermint LLP, Gaurav Singhvi (Co-founder, WFC), Rajeev Goel (Sagar Life Sciences), Sunay Shah (Mahati Electrics), Rohan Desai (CEO, Triumph Capital), and Mukul Goyal (Tapi Capital LLP).
The platform plans to invest Rs.3 crore in its research and marketing processes that will ultimately enable GROWiT in expanding its customer base and producing standard quality cost-effective protective farming materials and products. The fund will also be utilised for strengthening the “GROWiT App”, which is designed to assist farmers for better understanding of protective farming practices and products.
Talking about the seed round, Saurabh Agarwal, Founder, GROWiT India Pvt Ltd, elaborated, “At GROWiT, we are building a guided protective farming ecosystem with a clear goal to double the farm output of the country by 2030.
“We are helping and educating the farmers of rural areas regarding the benefits of protective farming products. These funds will effectively go in building this vision and is in line with our agri expansion strategy.”
Added Sunay Shah from Mahati Electrics, “Agritech certainly is a fascinating word today but what GROWiT is doing is more tangible in terms of having a product as well as a platform backed by technology.
“This looks to be a more promising venture. Agriculture as an industry is poisoned with chemicals but here is a platform which is working on crop protection in non toxin ways hence more green as I see it.
“Four parameters of my investments are met – scalable, sustainable, profitable, vegan. The management has a zeal to do their bit for the society and educating farmers is what they’ve chosen through GROWiT.”
Further talking about the fundraise, Mukul Goyal from Tapi Capital LLP, shared, “There are always two types of companies – one who creates the market and the others who follows it.
“GrowiT is the first one to educate the concept of protective farming. Our reason for investing was very clear that we believe in their ideas of sustainability, farmer’s economic growth and entering into an untapped market space for years.”
Commenting on the seed funding, Triumph Capital CEO Rohan Desai said, “The main reasons for choosing GROWiT as an investment avenue are that their products are really innovative considering the fact that it helps farmers to a great extent.
“The potential for organic food is vast in India, therefore protective farming is the need of the hour. Lastly, the management of the company is very dynamic, innovative, and hardworking considering the fact they have developed the product according to the needs of farmers.”
GROWiT was founded in 2019 with a vision to increase the crop yield through protective farming products. It is India’s first D2C protective farming agritech company. The major focus area of the company is to provide critical solutions like quality food, climate smart agriculture, farmer empowerment, and raising farmer’s productivity.
The company has also established Grow Kshetras (Demo Farms) at every Taluka for farmers to educate them about protective farming and other profitable farming practices. Currently, the platform is serving 15,000+ farmers through around 117 franchise stores. GrowiT is further aiming to expand its franchise network to almost 300 franchise stores by the end of this fiscal year and serve around 2.5 lakh farmers.
Founded by Saurabh Agarwal, the state-of-the-art manufacturer and distributor of advanced protective farming inputs is India’s first Direct-to-Farmer (D2F) protective farming agritech company. The company specialises in creating high-quality and cost-effective protective farming materials and manufacturing products. It ensures optimum quality and high yield for the Indian Agricultural and Farming Industry while lowering its carbon footprints. fiinews.com
