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Elevation Capital-backed agritech co Vegrow creates ESOPs pool worth Rs.26-Cr

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Fresh farm produce supply chain startup Vegrow has created a new Employee Stock Ownership Plan (ESOP) pool worth INR 26 crore (USD 3.5 million) to reward its employees. Vegrow has passed a special resolution to adopt an ESOPs Plan with 16,308 options with each option exercisable into 1 equity share of the company. The newly adopted ESOP pool represents around 7.24% of the outstanding equity share capital of the company. The development comes after seven months of the Vegrow's Series A round in which the Bengaluru-based company scooped up USD 13 million from Lightspeed Venture Partners, Elevation Capital and Matrix Partners India.