People · Agriculture & Food Systems
Gramophone cofounder Batra departs, joins Superplum as CBO
By Startup Enthusiast ·
- Date
- Company
- Gramophone
- What it does
- Full-stack agritech platform
- Kind
- People
- Founded
- 2016
What they do
Cofounder Navneet Singh Batra has left Gramophone and joined Superplum as chief business officer
What happened
The move follows Gramophone's acquisition by Unnati
Why it matters
Info Edge stake in Gramophone rose to 50.94% before it sold its entire stake to Unnati for a 15.7% stake in Unnati
The details
- Navneet Singh Batra, cofounder of Gramophone, has left the company.
- He has joined Superplum as its chief business officer.
- Batra originally joined Gramophone in 2022 and became cofounder in 2024.
- His departure comes after Gramophone was acquired by Unnati.
- Info Edge's stake in Gramophone rose to 50.94% from 39.58% before a share transfer to Unnati.
- Info Edge sold its entire Gramophone stake for a 15.7% stake in Unnati.
- The deal involved 3.39 lakh Gramophone shares valued at ₹91.7 crore.
- Info Edge also bought 18,756 Unnati shares for ₹35 crore.
The bigger picture
- The cofounder's move signals a leadership change after Gramophone's acquisition by Unnati.
- Info Edge's increased stake and subsequent sale show a strategic realignment of investments.
- Superplum, a B2B2C procurement platform, raised $15 million in Series A funding in 2024.
About the business
- Gramophone is a full-stack agritech platform serving farmers.
- It offers products like Gram Salah, Gram Sabha, Gram Bazaar, and Gram Vyapar.
- Services include buying agricultural inputs, soil health checks, digital crop selling, and expert advice.
- The platform has onboarded over 12 lakh farmers and has 4 lakh+ app downloads.
- In FY24, Gramophone reported revenue of ₹98.2 crore, down 68.9% from ₹315.7 crore in FY23.
- Its net loss in FY24 was ₹34.8 crore, lower than the previous year.
The deal
- Type
- people
Investors
- Info Edge (existing) — Investor that increased its stake in Gramophone to 50.94% and later sold it for a 15.7% stake in Unnati.
- Z3 Partners (existing) — Earlier investor in Gramophone.
- Asha Impact (existing) — Earlier investor in Gramophone.
- Siana Capital (existing) — Earlier investor in Gramophone.
Founders
- Tauseef Khan, Cofounder
- Nishant Mahatre, Cofounder
- Navneet Singh Batra, Former Cofounder
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