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"grow by" is correct and usable in written English.
It is an idiomatic phrase that means to increase by a specified amount. For example, "The company's profits grew by 10% last year."
Exact(60)
They grow by buying other businesses".
Property taxes continue to grow by state.
America will grow by 2.6% next year.
Tumors grow by multiple mechanisms.
Others continue to grow by listening.
"You grow by seeing other good dancers.
Otherwise wages would grow by 1% a year while capital would grow by a steady 2%.
That could limit companies' ability to grow by acquisition.
Their business model is to grow by opening stores.
The economy will grow by 99 million yuan (£7m).
Volunteerism continues today and can grow by valuing these rewards.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com