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RML AgTech, an agriculture technology solutions provider, has raised about ₹26 crore ($4 million) from venture capital firm IvyCap Ventures. It will use the money to strengthen its IT infrastructure and bring in new products and features on its existing products.
RML AgTech provides agriculture related decisions and support to farmers on mobile phones. With the increased reach of smartphones, the company believes accessibility of its products to farmers will grow significantly over the next 2-5 years. RML’s solutions, mainly through data analytics, help farmers in 16 States take steps or decisions that would increase crop productivity and earnings.
The company has developed app-based solutions for every stage of farming, including soil testing, what to grow, how to grow, where to grow, where and when to sell. The services are available on smartphones in a personalised manner, in multiple languages and with on-call service. The agri-tech industry in the country is estimated at ₹10,000 crore covering inputs such as seeds, fertilisers, implements and pesticides.
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