Agritech firm Grow Indigo has secured a $10 million investment from British International Investment (BII), a move that will significantly scale its carbon farming operations and enhance its reach among Indian farmers. The funding is set to deepen the company’s presence across the country while strengthening its sustainability-focused initiatives.Usha Barwale Zehr, Executive Chairperson and Co-Founder of Grow Indigo, said the company’s mission is rooted in making agriculture more resilient. “Grow Indigo is very much focused on sustainability in agriculture. And when I say sustainability in agriculture, we are trying to look at what it is that farmers do, and what we can improve to make it more resilient going forward.”To that end, Grow Indigo offers a suite of solutions, including biological inputs and a pioneering carbon farming programme that allows farmers to earn by adopting climate-friendly practices.
This programme enables farmers to reduce their greenhouse gas emissions through specific agricultural practices. These reductions are then measured, verified, and converted into carbon credits, which are sold in carbon markets—generating a new income stream for farmers.”When I say carbon farming, the farmers actually have to adopt a new agricultural practice that reduces their greenhouse gas footprint. This then gets quantified, and the farmers are remunerated or paid through the sale of carbon credits,” Zehr explained.
The company has already reached over one million farmers across India, and the programme’s benefits extend beyond climate impact. Farmers often see improved soil health, better water retention, and increased yields. The carbon credits serve as an additional revenue stream—essentially a second crop.”So, the farmer is no longer just growing one crop of rice, they are also in parallel, growing a crop of carbon. This increases their income by anywhere from 5-10% simply by participating in the carbon programme,” said Zehr.While Grow Indigo currently generates revenue from its biological inputs, carbon credits are set to become a major new income source. The company expects to issue nearly half a million credits this year, marking its first revenue from carbon sales.With the fresh capital infusion, Grow Indigo plans to expand beyond its current hubs in Punjab, Haryana, Maharashtra, and Gujarat. It is targeting new geographies including Madhya Pradesh, Uttar Pradesh, Bihar, Chhattisgarh, Andhra Pradesh, and Telangana.Although the company’s initial focus has been on rice and wheat systems, it is also exploring carbon initiatives in other key crops such as cotton, sugarcane, corn, and soybean.Watch the accompanying video for more.
