Spice tech company Growcoms raised USD 3.5 million in a new funding round, with co-leadership from JSW Ventures and Arali Ventures, along with the participation of existing investor InfoEdge Ventures.
Previously, Growcoms had secured USD 1 million in funding from InfoEdge Ventures. Notably, this marks the first investment in the Agritech sector for both JSW Ventures and Arali Ventures.
The company has outlined plans to utilise the newly acquired funds to enhance its product portfolio and technology infrastructure. The primary goal is to develop essential capabilities that enable traceability for spice exports and value-added spice products, as stated in a press release by Growcoms.
Founded in 2020 by George Kurian Kannanthanam, Narendranath P, and Bibin Mathews, Growcoms is dedicated to optimizing the spice value chain. They aim to achieve this by improving production capabilities, empowering farmers, and facilitating the supply of traceable spices to global markets through a digital platform.
Over the past two years, Growcoms has significantly expanded its operations. It now has sourcing hubs in major spice-producing regions, collaborates with trusted suppliers for converting spices into value-added products, and serves global markets with their products.
Their clientele includes various types of customers, such as food companies, flavor houses, FMCG (Fast-Moving Consumer Goods) companies, and seasoning brands.
In 2021, Growcoms was incubated by Indigram Labs.
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