GROWiT raises $3 mn to expand agritech innovation and global reach
The agricultural sector has been a vital part of human civilization for centuries, providing sustenance and livelihood to millions of people worldwide. However, the industry has also faced numerous challenges, including unpredictable weather patterns, soil degradation, and water scarcity, which can significantly impact crop yields and farmer incomes. To address these issues, innovative agritech solutions are being developed, and one such startup, GROWiT, has made significant progress in this space.
GROWiT, a protective farming agritech startup, has recently raised $3 million in Series A funding led by GVFL, with participation from Veloce Opportunities Fund, JITO, We Founder Circle, Sunicon Ventures, Progrowth Ventures, and Hyderabad Angels. This significant investment will support the company’s expansion plans, research and development (R&D), and technology upgrades.
Empowering farmers with sustainable tools
GROWiT’s mission is to empower farmers with sustainable tools and technologies that can help them increase their crop yields, reduce their environmental footprint, and improve their livelihoods. The startup’s innovative approach focuses on protective farming, which involves using physical barriers to protect crops from pests, diseases, and extreme weather conditions.
GROWiT’s flagship product is a patented, plant-based protective film that can be applied to crops to prevent damage from pests, diseases, and weather-related stress. This film is made from a unique blend of natural polymers and is biodegradable, making it an eco-friendly solution for farmers.
Impact on farmers and the environment
The impact of GROWiT’s technology on farmers and the environment is significant. By using the protective film, farmers can reduce their reliance on chemical pesticides and fertilizers, which can harm the environment and human health. The film also helps to conserve water, as it reduces evapotranspiration and prevents soil erosion.
According to the startup, over 2.25 lakh farmers have benefited from their technology, with significant increases in crop yields and reductions in crop losses. This has not only improved the economic stability of these farmers but also contributed to food security and sustainability.
Expansion plans and global reach
The funding raised by GROWiT will support the startup’s expansion plans, including the launch of new products and services, as well as the establishment of new offices and research centers. The company plans to expand its operations into Africa and other regions, where agricultural productivity is critical to food security and economic growth.
GROWiT’s technology has the potential to make a significant impact in these regions, where farmers often face significant challenges in terms of access to credit, markets, and technology. By providing sustainable and innovative solutions, the startup can help to improve the livelihoods of millions of farmers and their families.
Conclusion
GROWiT’s Series A funding is a significant milestone for the agritech industry, which is critical to addressing the challenges facing the agricultural sector. The startup’s innovative approach to protective farming has the potential to make a significant impact on farmers and the environment, and its expansion plans will help to bring sustainable solutions to new regions.
As the world grapples with the challenges of climate change, food security, and sustainable development, innovative agritech startups like GROWiT are playing a critical role in shaping the future of agriculture. With its new funding and expansion plans, GROWiT is poised to make a significant difference in the lives of farmers and communities around the world.
News Source:
https://startuptalky.com/news/growit-raises-3-million-series-a-funding/
