Ninjacart And IAN Invest USD 2 Mn In Agritech Startup Fyllo

Advertisements

IAN, an existing investor, joined the US 2mn round in Fyllo, an agri-tech startup led by Triveni Trusts, Ninjacart and new investors Venture Catalysts, StarAgri, Kia Ora Ventures, Singualrity Ventures, Mastermind Capital and angel investors.

The startup will use the capital raised for its expansion to new markets and towards research and development to support more crops.

Speaking on the latest development, founders Sudhanshu Rai and Sumit said, “Farmers have seen the impact of technology and the adaptability has increased. Having received the funding, we are looking to invest in expanding our brand to new markets and more crops.”

M.K Dhanuka, Managing Trustee, Triveni Trust said, “Fyllo’s specific, precise and AI-driven advise to farmers helps them increase their crop productivity and lower input cost. 100% customer retention reflects the farmer’s confidence in Fyllo’s offering. This will contribute to transforming India through agriculture. We are excited about our investment in Fyllo.”

Fyllo has reduced the risks involved and brought consistency in farming. Along with reducing the cost of cultivation, the platform helped farmers increase the yield and income. On a cumulative basis, farmers have saved over 9 billion litres of water using Fyllo.

Ninjacart co-led this round and Thirukumaran Nagarajan, Co-founder & CEO , of Ninjacart said, “ Fyllo provides actionable insights through a combination of technology, science and data. We look forward to working with Fyllo team to expand their distribution through Ninjacart’s farmer network across the country.”

Padmaja Ruparel, co-founder of IAN said, “IAN invests in changemaker-startups like Fyllo  — which have witnessed continuous business growth. The founders bring both passion and leadership and we are excited to be a part of the Fyllo journey.”

Further adding Balvinder Singh Kalsi, Managing Director, KiaOra Ventures said, “Fyllo’s offering is a great example of bringing precision farming technology to Indian farmers. This is another step towards doubling farmers income. We are happy to be a part of Fyllo’s future journey.”



Categories: Startups, Venture Capital

Tags: , , ,

Leave a Reply Cancel reply

%%footer%%