Agritech Startup Gramik Raises Rs 17 Crore for Rural Expansion
Agritech startup Gramik has secured Rs 17 crore (around $2 million) in a bridge funding round. The round was led by Sammaan Global Ventures and Money Creeper Investment, with participation from several angel investors. This brings Gramik's total funding to Rs 20 crore since its inception.
The funding round involved a mix of optionally convertible debentures (OCDs) and compulsorily convertible debentures (CCDs). The company, founded by Thomas Lommel, plans to use the fresh capital to expand its operations across Uttar Pradesh, Maharashtra, and Jammu. Gramik also aims to grow its private-label product line.
Gramik currently operates in 12 districts, with over 1,200 active village-level entrepreneurs (VLEs) and more than 250 rural retail partners. The startup uses a peer commerce distribution model and a full-stack technology platform for demand aggregation, logistics, embedded credit, and advisory services. With this funding, Gramik aims to increase its VLE network to over 3,000 and reach one million farmers by next year, focusing on supply chain efficiency, agronomy infrastructure, and technology.
Gramik's mission is to enhance rural livelihoods by improving access to quality farm inputs, agronomic knowledge, and modern farm practices. With the latest funding, the company is well-positioned to scale its operations and make a significant impact on the rural economy.
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