Grow Indigo Secures $8 Million Investment to Drive the Future of Sustainable Agriculture
29 January 2024, New Delhi: Grow Indigo, a sustainable agriculture company has successfully raised over USD $8 million in a recent funding round with a cumulative capital raise of more than USD $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 that was formed in 2018.
Grow Indigo operates the largest carbon farming platform for smallholder farmers in India. The platform includes four carbon programs across 13 states and cumulatively aims to reduce/ remove emissions by 20MtCO2e annually from agriculture. About 800,000 acres have already been enrolled in the Company’s programs.
“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.”
In partnership with leading research organizations, 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 incentivized 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 USD $7 billion annually as income for smallholder farmers by 2030.
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 use efficiency, water use efficiency, reclaiming soil health, insect-disease control using biopesticides and increased ability to mitigate abiotic stresses using biostimulants. With a strong focus on research and development, the company has a robust pipeline of new products.
Grow Indigo has built a skilled team of over 250 Agronomists, Researchers, Data Scientists, Engineers, and Sales Professionals, dedicated to scaling up climate solutions through regenerative agricultural practices.
About Grow Indigo:
Grow Indigo is leading the transformative movement towards regenerative agriculture in India, seamlessly blending the expertise of Mahyco and Indigo Ag- our founders- in pursuit of sustainable climate solutions. Our unwavering commitment lies in empowering smallholder farmers. We strive to maximize their profitability with our biologicals and carbon solutions. We believe in growing more than just crops; we grow opportunities for our farmers, partners and employees.
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