Info Edge’s subsidiary to invest Rs 9.31 crore in Agritech firm ‘Gramophone’

27 Jan 2023 , 12:56 PM

Info Edge (India) Limited informed to the exchanges that the Startup Investments (Holding) Ltd. (“SIHL”), a wholly-owned subsidiary of the Company has agreed to invest about Rs 9.31 crore in Agstack Technologies Private Limited (Gramophone).

As per the regulatory filing, Gramophone is a full stack agritech platform for farmers as the company sells agri-inputs to farmers directly and via small retailers in an omnichannel model. 

It also provides advisory to farmers with respect to cropping/farming practices and helps them in selling their output to buyers. 

“This follow on investment by the Company through SIHL is in furtherance of Company’s investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term”, the company said in a filing.

At around 11:59 AM, Info Edge was trading at Rs3681.85 per share higher by 0.30% on the BSE.

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