Agritech Startup GROWiT Bags $3 Mn From GVFL, Others

Surat-based agritech startup GROWiT has raised $3 Mn (around INR 25.5 Cr) in a Series A funding round led by GVFL, with participation from Veloce Opportunities Fund, JITO, We Founder Circle, Sunicon Ventures Fund, Progrowth Ventures and Hyderabad Angels.

With the fresh capital, the startup plans to fuel its expansion and research and development, as well as boost technology infrastructure.

Founded in 2020 by Saurabh Agarwal and Akshay Agarwal, GROWiT focuses on delivering advanced, sustainable solutions for the Indian agriculture sector. It claims to offer soil-to-harvest products designed to boost farm productivity and enhance climate resilience.

Building on its pan-India footprint, GROWiT now plans to scale operations across Africa and other emerging markets.

Last month, the startup claims to have launched India’s first pocket-friendly soil health testing device, which provides soil composition insights and crop recommendations tailored to specific soil types. Its product portfolio also includes mulch films, crop covers and weed mats.

“We believe tech has to be accessible to transform Indian agriculture.With climate change disrupting traditional farming, our goal is to build resilience and boost yields through low-cost, high-impact innovations,” said Saurabh Agarwal. 

To date, GROWiT claims to have offered solutions to more than 650 franchise outlets across 12 Indian states.  

The Broder Agritech Ecosystem At Play

India’s agritech startup landscape has seen growth over the years, driven by increased digital penetration, post-COVID supply chain recovery, growing demand for high-quality produce, and strong investor interest.

Startups such as WayCool, DeHaat, CropIn, AgroStar, Jai Kisan, Intello Labs and AGRIM have been instrumental in propelling this growth. These agritech startups are deploying IoT-enabled solutions, AI-based tools, and other cutting-edge technologies to reshape the agriculture and food ecosystem.

Moreover, farmers in India are facing significant challenges such as diminishing soil fertility and fragmented land holdings, which make traditional farming methods less effective. Technology interventions from agritech startups are proving essential in addressing these issues.

While funding in the segment has slowed in recent times, notable fundraises in recent times include Dehaat’s INR 200 Cr venture debt raise from Trifecta Capital and Grow Indigo’s $10 Mn funding from British International Investment (BII).

As per industry estimates, India is home to over 1,500 agritech startups, which have collectively raised over $2.4 Bn since 2014. Despite this growth, the country is yet to produce a unicorn in the agritech space. The Indian agritech market is projected to grow to a $34 Bn opportunity by 2027.