Indian early and mid-stage investor GVFL led a $3 million Series A funding round for GROWiT India, the agricultural subsidiary of Indian family-owned packaging company Alpha Plastomers Private Limited.
GROWiT makes mulch film, shade nets, crop covers, sticky traps, pond liners and other products to boost soil moisture retention, suppress weed growth and protect crops from pests. It also offers a soil testing device that can recommend tailored products. By reducing the use of water and pesticides and shielding crops from unfavourable weather, GROWiT says it helps farmers improve their yields by 40% to 60%.
Sustainable farming
Other investors in the round included Veloce Opportunities Fund, Sunicon Ventures Fund, We Founder Circle and Hyderabad Angels. GROWiT, says Mihir Joshi of GVFL, is “making climate-friendly, sustainable farming methods more affordable and effective.”
The funding will strengthen the company’s research and development processes and support its expansion in India and Africa. The startup provides training services to over 225,000 farmers across 12 states.
