Info Edge is an internet service company known for its presence in India’s startup ecosystem. The  company discloses that it will increase its stake in Gramophone by investing Rs 15 crore in the  agritech startup, Gramophone. The exchange filing mentioned that the investment will be made in  two tranches over the next 6 months. 

The founder of Info Edge, Sanjeev Bikchandai mentioned during a meeting that the company is  leading this funding round and that Gramophone will focus on break-even, highlighting the cautious optimism about the startup’s future growth. Next month, Info Edge will move with the first part of  investing Rs 7.5 crore and the remaining amount will be released in the next six-month interval,  meeting the conditions in the exchange filing. Gramophone was formed by Nishant Mahatre and  Tauseef Kha, to offer crop protection, seeds, implements, crop nutrition, and agriculture  technologies. This is a full-stack agritech startup offering a platform with an in-built omnichannel  model to support farmers.  

This agritech startup had an annual turnover drop of 69% in FY24. Even after the loss of 58 crore, the  company has an increase of 76.2% as it went from 172 to 303 crore. This Agri-tech startup uses data driven technology to offer a secure platform for farmers. Farmers and dealers can reach each other  directly using this platform. With an investment of Rs 15 crore, Info Edge investment via its subsidiary  startup investments, would take up the 39.5% stake in this agritech startup. The CEO of Info Edge mentioned that they will increase their stake in this agritech startup with an investment of $1.8  million. 

Info Edge also mentioned in the exchange filing about investing in the parent company of  Gramophone, Agstack Technologies via its wholly-owned subsidiary startup in two tranches.  According to a report by Inc42, the filing further said that SHL agreed to acquire about 69790  compulsory convertible cumulative preference shares that make a face value of Rs 10 each as part of  a larger round in the two tranches. Info Edge has been an existing investor of Gramophone and is  continuously increasing its stake in the startup. Last year they also approved investing Rs 9.3 crore to  increase their stake up to 32.8%.  

Conclusion: 

Info Edge discloses that it will increase its stake in Gramophone by investing Rs 15 crore in the  agritech startup, Gramophone. As the Gramophone was looking for additional funds, Info Edge agreed to invest in them in two tranches of 6-month intervals each. Gramophone is a full-stack  agritech startup offering a platform with an in-built omnichannel model to support farmers. Info  Edge’s additional investment in Gramophone highlights the growing confidence in the agritech  startup’s business model and potential for growth. According to the exchange filing, the company will  provide investments in two tranches. Info Edge will move with the first part of investing Rs 7.5 crore next month and the remaining amount will be released in the next six months.