Piatrika Biosystems raises $1.2 mn in seed funding led by Ankur Capital
- ByStartupStory | July 22, 2022
Piatrika Biosystems, an agri-genomics firm, has secured $1.2 million in a seed round headed by Ankur Capital. The funds will be used to construct a strong product development team and increase research to speed the commercialization of its minimal viable product (MVP).
Vasudev Kumanduri and Phani Yarlagadda formed the company in 2019 intending to develop a cloud-based business Platform-As-A-Service (PaaS) for agri-genomic breakthroughs and plant breeding decision support, program design, and monitoring. The company’s goal is to deliver sustainable seeds and agricultural chemicals to market sooner and at a lower cost.
“There is a considerable disconnect between cutting-edge research and its practical execution,” said Vasudev Kumanduri, Co-Founder & CEO of Piatrika Biosystems. This implies that, while groundbreaking research has been conducted in this field in recent years, the crucial information has not been used in a timely sensible way in agriculture. There is a pressing need to transfer these advancements in science into practical usefulness.”
“With the problems that agriculture faces, innovation in the seed market is important,” said Ritu Verma, Partner at Ankur Capital. Piatrika Biosystems was founded by NIAB (Cambridge, UK) and ICRISAT (Hyderabad, India) and collaborates with researchers, seed firms, and research organizations. Piatrika Biosystems was included in a Food and Agriculture Organization (FAO) Report By the united nations in June 2022.
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