CultYvate, an IoT-enabled agritech platform launched by Farms2Fork Technologies Pvt Ltd, has raised ₹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 fund will be used towards refining the technology to make the services more accessible, affordable and simpler. It would also be utilized for expanding its presence in Punjab, Haryana and Maharashtra, besides for talent acquisition for developing AI, ML and remote sensing. CultYvate is also poised to devise solutions on monetisation opportunities that can minimize the cost of ownership for the farmers.
Focus on water guzzlers
In a statement, Mallesh TM, Founder of CultYvate, said, “We are committed to making a social and environmental impact through our brand. 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 increasing their profitability by up to 20 per cent focusing on water-guzzling crops such as paddy, cotton and sugarcane.”
Saloni Jain, Partner of Sunicon, said: “We are excited to have invested in CultYvate. We are confident that the teams’ passion and its 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.”
CultYvate, founded in 2016 by Mallesh TM, Bhavana M and Arun K R, enables farmers to use less water for farming without compromising on the yield. It has collaborations and partnerships with research centres such as IISc, IIT, ICAR, IIM, IRRI to leverage industry experience.