Fyllo Raises $2 Million Led By Triveni Trust, Ninjacart and IAN
The funds will be used for expansion to new markets and towards research and development
Fyllo, an agri-tech startup, raised $2 million in a funding round led by IAN, 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.
“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 founders Sudhanshu Rai and Sumit Sheoran in a joint statement.
“Fyllo’s specific, precise and AI-driven advice to farmers helps them increase their crop productivity and lower input cost. 100 per cent 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,” said MK Dhanuka, managing trustee, Triveni Trust.
Fyllo has expanded its services to 2000-plus farmers and 10-plus corporates across four states in India.
Founded in 2019, Fyllo brings certainty in quality and quantity of agricultural produce through its data-driven Agri-science platform. Their IoT system understands and measures precise requirements of plants on a real-time basis and then the Agri-science platform backed by AI provides timely advice to farmers. The startup has developed crop-specific models for irrigation, nutrients, diseases, pests, and weather management for each physiological stage of crop and soil.