Fyllo, the Bengaluru-based agritech startup has raised $2 million in funding round from IAN, Triveni Trusts, Ninjacart and with participation from new investors like Venture Catalysts, StarAgri, Kia Ora Ventures, Singualrity Ventures, Mastermind Capital.
The agritech startup plans to use the funds for research and development to support more crops for their expansion into new markets.
The Bengaluru-based Fyllo was founded in 2019 by Sachin Gautam, Sudhanshu Rai and Sumit Sheoran, It brings certainty to the quality and quantity of agricultural produce through its data-driven Agri- Science platform.
Its IoT system understands and measures the exact requirements of the plants on a real-time basis and then the AI-enabled Agri-Scienceplatform provides timely advice to the farmers.
Through this platform they have developed crop-specific models for irrigation, nutrient, disease, pest and weather management for each physiological stage of crop and soil.
“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”, said, Sudhanshu Rai and Sumit Sheoran, founders of Fyllo.
“Fyllo’s specific, precise and AI-driven advise to farmers helps them increase their crop productivity and lower input cost”, said, M K Dhanuka, Managing Trustee, Triveni Trust.
“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”, said, Thirukumaran Nagarajan, Co-Founder and CEO, of Ninjacart.
Padmaja Ruparel, co-founder of IAN said, “IAN invests in changemaker-startups like Fyllo — which have witnessed continuous business growth.”
Balvinder Singh Kalsi, Managing Director, KiaOra Ventures said, “Fyllo’s offering is another step towards doubling farmers income.” In June 2021, Fyllo had raised Rs 3 crore from Indian Angel Network (IAN), Titan Capital, and Lead Angels.
Based on real-time farm data and insights, Fyllo helps farmers take precise decisions and increase farm productivity.