Agritech Grow Indigo bags $10M to expand carbon farming initiatives

Agritech startup Grow Indigohas raised $10 million from British International Investment (BII), the UK's development finance institution and impact investor.

The startup plans to use the funds to accelerate the expansion of its transformative sustainability programmes across India.

"Regenerative agriculture is the future of farming, not only for improving soil health, conserving water but also for creating improved livelihoods for millions of smallholder farmers," said Dr. Usha Barwale Zehr, Executive Director of Grow Indigo. 

"With this funding, we will accelerate farmer enrollment and scale carbon farming initiatives. Maintaining integrity of the sustainability outcomes, by way of carbon credits and Scope 3 emission reductions, is of utmost importance to us and will bring maximum value to farmers with our science-backed MRV offerings. We are thrilled to be partnering with BII to pursue these critical objectives for India’s sustainability objectives," she added.

Founded in 2018 Grow Indigo, with 2.5 million acres across seven states already enrolled. Operating in 16 states with 2,000+ distribution partners and 600+ field staff, the company offers agri-solutions from seed treatment to harvest.

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The startup says it promotes regenerative practices like direct seeded rice and no-tillage farming, enhancing soil health, conserving water, and reducing emissions. By linking farmers to voluntary carbon markets, Grow Indigo enables them to earn from soil carbon credits, with most revenue going directly to farmers.

Its robust measurement, reporting, and verification (MRV) systems ensure transparency for corporations seeking sustainable supply chains. With four carbon farming projects in development and the first carbon credits expected soon, Grow Indigo aims to enroll millions of farmers and acres within two years, according to the company.