Unnati, an agritech startup co‑founded by former Paytm CFO Amit Sinha, has announced the acquisition of Gramophone, a digital platform that helps farmers buy seeds, fertilizers, nutrients, and equipment. The deal is structured as a stock‑swap transaction, where Info Edge (India) Ltd, Gramophone’s major investor, will transfer its entire stake in Gramophone to Unnati in exchange for shares in the combined entity.
Info Edge’s wholly-owned subsidiary, Startup Investments (Holding) Ltd (SIHL), currently holds just over 50.94% of Gramophone on a fully diluted basis. Under the agreement, SIHL will receive preference shares in Unnati representing about 15.7% of the merged company. In addition, Info Edge will invest ₹35 crore in fresh capital into Unnati, raising its stake in the company to around 20.5%, which is expected to settle at approximately 18.48% after shares are allotted to other Gramophone shareholders.
The transaction values Gramophone at roughly ₹92 crore, based on a per-share price of ₹2,703. Gramophone reported revenues of ₹67 crore for the financial year ended March 2025. Unnati, which focuses on distributing agricultural inputs and providing farmer financing, reported revenue of ₹291 crore during the same period, though it recorded a net loss of nearly ₹18 crore.
The merger aims to create a stronger digital agritech platform by combining Unnati’s distribution and financing capabilities with Gramophone’s marketplace and advisory services for farmers. This consolidation reflects a growing trend in India’s agritech sector, where startups are seeking scale and synergies to better serve the farming community.
The deal has received approval from the boards of both companies and is expected to close within 90 days, subject to customary approvals and regulatory conditions. By joining forces, Unnati and Gramophone hope to expand their reach across India, providing farmers with easier access to quality agricultural inputs, timely credit, and expert guidance, while creating a more integrated and efficient supply chain.