Agrihawk Technologies, which operates agritech startup Fyllo, stated on Friday that it has secured $2 million (round Rs 15.2 crore) in a investment spherical co-led through India Angel Network, Triveni Trust and Ninjacart.
The Bengaluru-primarily based totally platform plans to apply the clean capital to increase its marketplace footprint and consciousness on studies and improvement to resource crop cultivation.
The spherical additionally participation from new traders inclusive of Venture Catalysts, StarAgri, Kia Ora Ventures, Singualrity Ventures and Mastermind Capital and a few angel traders.
Founded in 2019 through Sudhanshu Rai and Sumit Sheoran, Fyllo’s 360-diploma view dashboard – sponsored with real-time farm data – makes use of net of things (IoT), synthetic intelligence and agronomy to offer farmers with insights geared toward enhancing nice and amount in their produce even as decreasing normal price of production.
The startup claims to have multiplied its offerings throughout four Indian states to over 2,000 farmers and 10 corporates.
“Farmers have visible the effect of era and the adaptability has increased. Having obtained the investment, we’re trying to spend money on increasing our emblem to new markets and extra crops,” stated founders Rai and Sheoran in a statement.
The Indian Angel Network, based in 2006, has been a outstanding investor in India’s startup ecosystem. With traders from 12 countries, the community is unfold throughout seven locations, which incorporates towns in India and the UK.
“India Angel Network invests in change-making startups which have witnessed non-stop commercial enterprise growth. The founders of Fyllo deliver each ardour and management with them and we’re excited to be part of this journey,” stated Padmaja Ruparel, co-founding father of India Angel Network.
“Fyllo’s specific, unique and AI-pushed recommendation to farmers facilitates them boom their crop productiveness and decrease enter price. a hundred% patron retention displays the farmer’s self assurance in Fyllo’s offering. This will make a contribution to reworking the agriculture state of affairs of India,” stated MK Dhanuka, coping with trustee, Triveni Trust.
India’s agritech area has been garnering lots of investor interest over the last few months. Earlier this month, agritech corporation Absolute raised $a hundred million throughout from Sequoia Capital India, Alpha Wave Global, and Tiger Global.
Last month, Eeki Automations Pvt. Ltd, which runs agritech startup Eeki Foods, secured $6.five million (round Rs 50 crore) as part of its Series A investment led through General Catalyst.