Vegrow fundingCo-founders of Vegrow / Image Credit: Vegrow

Vegrow, an agritech startup based in India, has raised $46 million (approximately Rs 384 crore) in the Series C funding round. The investment was led by Singapore’s sovereign wealth fund GIC, with participation from existing investors Prosus Ventures, Matrix Partners India, Elevation Capital, and Lightspeed.

Vegrow is a tech platform connecting farmers with the organized demand for their produce. The platform partners with the farmers, aggregates the supply, and sells it further to B2B customers. The company has deep crop expertise and thus also provides smart advice to the farmers on increasing efficient land utilization and proper farming guidance.

Vegrow has increased its revenue fivefold in the past year and is operationally profitable. The new investment will be used by the startup to expand its reach in the Indian market as well as its global presence.

The company’s co-founders are Praneeth Kumar, Shobhit Jain, Mrudhukar Batchu, and Kiran Naik, and it is headquartered in Bengaluru, Karnataka, India.

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