News on Medial

Gramophone promotes Navneet Singh Batra as co-founder

Entrackr · 3m

Agritech startup Gramophone has elevated long-term company executive Navneet Singh Batra to the position of co-founder. Batra brings more than a decade of experience in FMCG and agri industries. In his new role, he will oversee strategic initiatives to boost its market presence and drive growth as well as margin. Batra previously served as Gramophone’s business head of retail biz. Previously, he had stints at nurture.retail and JioMart. Founded by Tauseef Khan, Ashish Rajan Singh, Harshit G, and Nishant Mahatre, Gramophone offers real-time farm advisory from experts and enables farmers to purchase crop protection, crop nutrition, seeds, implements, and agricultural hardware products. It also provides agronomic information such as weather information, the latest market prices and expense calculator among others. The Indore-based company claims to serve 50,000 villages and works with more than 2 million farmers and retailers. The platform has raised about $20.5 million to date from investors including InfoEdge, Z3 Partners, Asha Impact, and Siana Capital. For the fiscal year ending in March 2023, Gramophone’s gross revenue grew 75.6% to Rs 316 crore from Rs 180 crore in FY22. The company’s losses grew 48.7% to Rs 58 crore in FY23 from Rs 39 crore in the previous fiscal year. Last month, crypto exchange CoinDCX elevated Mridul Gupta as its founding partner.