Piatrika Biosystems Raises $1.2 Million in Seed Funding Round
Piatrika Biosystems, an agri-genomics startup, has raised seed funding of $1.2 million (around Rs 9.36 crore) led by Ankur Capital.
As per the startup, the raised funds will be used to scale its product development team and commercialization of its minimum viable product (MVP).
Piatrika Biosystems | Agri-genomics Startup
Founded by Vasudev Kumanduri and Phani Yarlagadda in 2019, Piatrika Biosystems is bridging the gaps between scientific research and commercial enterprise solutions. The startup helps researchers and plant breeders bring sustainable seeds and agri chemicals to market faster and cheaper.
Speaking on the development, Phani Yarlagadda, co-founder and chief operating officer at Piatrika Biosystems, said,
“Weather, war, and viruses have disrupted global food systems. This has put immense pressure to produce more food using less resources. Seed companies and agri-research institutes are looking for affordable Enterprise grade plug-in solutions that can leverage the recent advancements in technology to optimize the processes involved in taking a seed from lab to farmer.”
The agri-genomics startup claims to be building a new innovative cloud-based enterprise platform-as-a-service (PaaS) for agrigenomic discoveries and plant breeding decision support, program designing and monitoring.
As per the startup, the world is currently experiencing issues around the global food supply caused by an imbalance in the supply chain. And the need for sustainable agriculture precisely, coupled with an aggressive growth strategy, has necessitated a change in processes management.
Commenting on the development, Ritu Verma, Partner, Ankur Capital, said,
“With the challenges that agriculture faces both from climate and increased food demand, innovation in the seed sector is critical. With advances in computational biology, we see this as a critical tool to bring new seeds to market quickly.”
Agritech India
Despite the funding winter, numerous agritech startups have managed to secure funds from strategic players and investors. From January 2022-till now, several agritech startups, including Kochi-based agritech startup Growcoms, Bengaluru-based Fyllo, Poshn, and IoT-enabled agritech platform CultYvate, raised funds.
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