Growcoms, a spice tech startup, has raised $3.5 million in a new funding round led by JSW Ventures and Arali Ventures, with participation from InfoEdge Ventures, an existing investor.
InfoEdge Ventures had previously contributed $1 million to Growcoms. This represents JSW Ventures’ and Arali Ventures’ first investment in the agritech sector.
Growcoms said in a press release that the company intends to use the additional funding to strengthen its product line and technology stacks in order to develop critical capabilities that will enable traceability for exports and value-added spices.
Growcoms, which was co-founded in 2020 by George Kurian Kannanthanam, Narendranath P, and Bibin Mathews, aims to optimize production capabilities, empower farmers, and supply traceable spices to global markets via a digital route in order to improve the value chain for spices.
Growcoms claims that over the past two years, it has increased the size and reach of its operations. It has sourcing centers in all of the main regions that produce spices, verified suppliers who can transform raw materials into value-added spices, and it can meet demand from markets all over the world.
At the moment, the company serves a wide range of clients, including food companies, flavor houses, FMCG businesses, and seasoning brands.
Indigram Labs served as Growcoms’ incubator in 2021.
