Agritech Startup CultYvate Raises Rs. 4.5 Crore In Pre-Series A Funding
IoT-enabled agritech platform CultYvate has raised Rs. 4.5 crore in a pre-Series A funding round led by Sirius One Capital Fund. Other marquee investors, including Sunicon, The Chennai Angels, LV Angel Fund, and Prodapt Technology Holding, also participated in the funding round.
The startup plans to use the freshly raised funds to refine the technology to make the services more accessible, affordable and simpler. Additionally, the raised funds will be utilized for the expansion of geographical presence in Haryana, Punjab, and Maharashtra, as well as talent acquisition for developing AI, ML and remote sensing.
CultYvate | Farming AutoPiloted
Founded by Mallesh TM, CultYvate is on a mission is to increase crop yield while reducing farm inputs with the help of precision farming technology. The agritech platform has integrated IoT, Artificial Intelligence, Satellite, Machine Learning and various crop models, enabling farmers to save up to 40% of water while improving crop productivity by 60%.[Read: Top 7 Trending Sectors That Are Expected To Boom In 2022]
Speaking about the platform, Mallesh TM, Founder of CultYvate, said,
“We are committed to making a social and environmental impact through our brand. Presently, our farmers growing paddy are saving up to 80 lakh litres of water/ Hectare every crop season, as well as earning a 10% incremental profit. Our mission is to save 1 trillion litres of water over the next 5 years. Additionally, we envisage reducing the cost of ownership for farmers whilst amping up their profitability up to 20% by focusing on water-guzzling crops such as paddy, cotton and sugarcane.”
CultYvate is working with the government, farmer organisations, businesses, NGOs, academics, researchers and other stakeholders to enable farmers to enhance agriculture productivity. The agritech platform is also poised to devise solutions on monetization opportunities that can minimize the cost of ownership for the farmers.
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