Private Equity

VC Fund Investments

Agri-tech co Gramophone raises Rs.9.31 Cr more from InfoEdge

BSE Disclosure  

Startup Investments (Holding) Ltd (SIHL), a wholly-owned subsidiary of publicly listed InfoEdge, is to invest about INR 9.31 crore in Indore-based Agstack Technologies Pvt Ltd (Gramophone). SIHL would acquire 10,315 Compulsorily Convertible Cumulative Preference Shares (CCCPS) having a face value of INR 10 each as part of a larger round. Post-investment, the aggregate shareholding of SIHL would be 32.89% on fully converted & diluted basis. Gramophone, incorporated in 2016, is engaged in the business of retailing agricultural input, procurement of agricultural output and creation and maintenance of an advisory platform for farmers.

From the Venture Intelligence PE-VC Deal Database: Between Aug 19 and Oct 21, Gramophone had raised over USD 17 M from Asha Impact, Info Edge, Siana Capital, Z3 Partners and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)