New Delhi: Grow Indigo, a leading science-enabled sustainable agriculture company, has successfully raised over US$8 million in a recent funding round with a cumulative capital raise of more than US$23 million to date. The round saw interest from investors globally including participation from Indigo Ag, Mahyco and individuals. Grow Indigo is a joint venture between Indigo Ag and Mahyco, formed in 2018.
“Grow Indigo operates a carbon farming platform for smallholder farmers in India. The platform includes four carbon programmes across 13 states and aims to reduce and remove emissions by 20MtCO2e annually from agriculture. About 800,000 acres have already been enrolled in the company’s programmes,” the company claims.
“With sustainability at its core, Grow Indigo has now demonstrated adoption of biological inputs and carbon solutions at scale by farmers,” said Dr. Usha Barwale Zehr, Executive Chairman of Grow Indigo. “This lays the foundation for rapid growth of sustainable agriculture in the coming years.”
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“In partnership with leading research organisations, the company uses its science capabilities including satellite imagery analysis to monitor and measure soil carbon sequestration and on-farm GHG emission reductions. Grow Indigo is also helping food, beverage and apparel companies reduce their scope-3 emissions in their supply chains with sustainably grown crops. Farmers are incentivised based on the verified outcomes of carbon mitigation efforts, and the company expects to enroll over 7.5 million acres in the coming years. Carbon, a new revenue stream for farmers, could become the 5th largest agri-export commodity from India, and is expected to generate an additional US$7 billion annually as income for smallholder farmers by 2030,” the company said.
“The company’s biological products today are used on 4 million acres in 16 states with an extensive network of channel partners. These products enable farmers to reduce their chemical inputs and increase resilience through enhanced nutrient and water use efficiency, reclaiming soil health, insect-disease control using bio-pesticides and increased ability to mitigate abiotic stresses using bio-stimulants. With a strong focus on research and development, the company has a robust pipeline of new products,” Grow Indigo said.
Grow Indigo has built a team of over 250 agronomists, researchers, data scientists, engineers, and sales professionals, dedicated to scaling up climate solutions through regenerative agricultural practices.
