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Omnivore Capital, an agri-tech in which Godrej Agrovet is the anchor investor, has picked up 33 per cent stake in Skymet, a private weather forecast firm. Skymet provides weather forecast to farmers and power producers in the country.
A press release from Skymet said that this move will help it to invest in research and development that will allow it to generate more accurate, short-range weather forecast at the village level; and extended the range in the medium as well as long term. These forecasts will enable farmers to evaluate their weather risks, it said. For Omnivore, this is the first initiative to financially back companies that can help the country's agriculture sector .
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