CultYvate raises Rs 4.5 crore in a pre-Series A round of funding
- ByStartupStory | April 5, 2022
CultYvate, an IoT-enabled agritech platform, raised Rs. 4.5 crore in pre-Series A financing. Sirius One Capital Fund led the round, which included Sunicon, The Chennai Angels, LV Angel Fund, and Prodapt Technology Holding as well as other notable investors.
The funds will be used to refine the technology in order to make the services more accessible, economical, and simple. It would also be used to expand the company’s geographical footprint in Punjab, Haryana, and Maharashtra, as well as to recruit talent for AI, machine learning, and remote sensing, according to a news release.
Bengaluru-based CultYvate is an Agri-tech firm that delivers farming solutions based on artificial intelligence and the internet of things. It was formed in 2016 by Mallesh T M, Bhavana M, and Arun K R. CultYvate allows farmers to use less water while still producing a high yield.
CultYvate stated in a press release that the company is also ready to develop monetization solutions that will lower the cost of ownership for farmers. It has gained roughly 1250 farmers in the last 24 months, with 500 of them competent to export. So far, the company claims to have saved 90 million liters of water and 72,000 kWh of power.
To utilize its industrial experience, the startup has collaborated or formed relationships with prestigious research institutes such as IISc, IIT, ICAR, IIM, and IRRI. The startup’s aim is to increase its geographical footprint in Punjab, Haryana, and Maharashtra.
Follow Startup Story
Related Posts
