CultYvate raises Rs 4.5 cr in pre-Series A round from Sunicon Ventures, others

FPJ Web DeskUpdated: Wednesday, April 06, 2022, 12:34 PM IST
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CultYvate will leverage the freshly-infused funds towards refining the technology to make the services more accessible, affordable and simpler. /Representative image | CultYvate

CultYvate, the IoT-enabled agritech platform by Farms2Fork Technologies Pvt Ltd, has announced it has raised Rs. 4.5 crores in a pre-Series A round.

The round was led by Sirius One Capital Fund, alongside other marquee investors including Sunicon, The Chennai Angels, LV Angel Fund, and Prodapt Technology Holding.

The freshly-infused funds would be leveraged towards refining the technology to make the services more accessible, affordable and simpler. It would also be utilized for the expansion of geographical presence in Punjab, Haryana and Maharashtra, as well as, talent acquisition for developing AI, ML and remote sensing.

CultYvate is also poised to devise solutions on monetization opportunities that can minimize the cost of ownership for the farmers, it said in a press statement.

Commenting on the benefits of the platform, Mallesh TM, Founder of CultYvate, said, “We are committed to making a social and environmental impact through our brand. Presently, our farmers growing paddy are saving up to 80 lakh litres of water/ Hectare, every crop season, as well as, earning a 10 percent incremental profit. Our mission is to save 1 trillion litres of water over the next five years. Additionally, we envisage reducing the cost of ownership for farmers, whilst amping up their profitability up to 20% by focusing on water-guzzling crops such as Paddy, Cotton and Sugarcane.”

Addressing the vision for the investment, Saloni Jain, Partner of Sunicon, said, “We are confident that the founding teams’ passion and the groundwork to build the platform will provide global solutions not only for the benefit of the farmers and the environment but also for the consumption ecosystem as a whole, since it affects the quality of produce we all consume.”

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