Agri-tech firm Gramophone on Thursday said its revenue jumped over two-fold to Rs 48 crore last fiscal on a strong performance of the farm sector despite the COVID-19 pandemic. Founded in 2016, Gramophone provides farm advisory services, inputs like seeds and marketing support to farmers. It has raised USD 8 million so far from investors, including Infoedge, Siana Capital, Asha Impact and Better Capital.
Gramophone — started by IIT and IIM Ahmedabad graduates Tauseef Ahmad Khan, Nishant Vats Mahatre, Harshit Gupta and Ashish Rajan Singh — currently has a presence in Madhya Pradesh and Rajasthan. It has over an 8 lakh user base on its mobile app.
The company has clocked 2.5X year-on-year growth and witnessed revenue of Rs 48 crore in FY2021 as compared to Rs 19 crore in FY2020, Gramophone CEO and Co-founder Tauseef Khan told PTI.
We are the only platform which streamlines the farming process through a data-driven full-stack technology platform that makes farming intelligent on a simple App, enabling farmers to grow more, save more and sell better, he said.
The company provides farmers access to inputs based on crop needs across the cropping cycle through agronomic intelligence and enable them to sell the produce to buyers at better prices, Khan added.
“This has resulted in our tremendous acceptance by the Indian farmers leading to our success,” he noted.
Gramophone now has plans to expand its operations in Maharashtra, Uttar Pradesh, Telangana, Karnataka and Tamil Nadu. In the 5 years, Khan said the company has built three components, which streamline the farming process.
These are — Gram Salah for farm management, providing personalised Agronomic Intelligence; Gram Uday for access to agri inputs and Gram Vyapar, enabling the post-harvest market linkages by bringing traders, commission agents and processors on the same platform.
Currently, Gramophone is working with 150+ brands in agri-input commerce and hosts an entire range of products that farmers need in crop production.
Gramophone currently works with companies such as Godrej Agrovet and Dhanuka with the crop protection side and with seed companies like Rashi and Nunheims, among others.