Agritech startup WayCool Foods has acquired the IP of GramworkX and will invest $1 million in the company and another million in the following years, according to an ET report.
WayCool is also looking to launch their tech stack as a SaaS-based solution providing an end-to-end solution for companies or to address specific concerns – be it for farm management, shop floor management, logistics management, a B2B platform or as a B2C service.
The Chennai-based startup recently completed a $117 million Series D round led by existing and new investors including LightRock, LightBox and FMO.
Founded by K A Gopalakrishnan and Supriya Ananthakrishnan, GramworkX is a cloud-based smart farm resource management tool, which helps farmers guide, optimise and monitor utilisation of water. It quantifies and provides analytical insights into water consumption patterns across fields and soil types and provides data support.
The Bengaluru-based GramworkX provides an on-ground IoT device that continuously monitors key farm parameters. The farmers use the Kisan app to get daily recommendations and information. Currently, the app operates in five languages and aims to continuously expand language offerings.