Agri analytics startup Satyukt Analytics has raised Rs 10 crore as a part of pre-Series A round from NABVENTURES, a venture growth equity fund backed by NABARD (National Bank for Agriculture and Rural Development).
Previously, the Bengaluru-based startup had raised Rs 3.7 crore in seed funding from Nabventures and Social Alpha in October 2020.
Satyukt deploys satellite technology and machine learning to provide SaaS-based advisory services to farmers. The latest proceeds will enable the company to accelerate the development of its Sat2farm app which empowers farmers with data-driven insights. Sat2credit app helps BFSI players to evaluate a farm’s creditworthiness and credit risk and introduce new products such as Sat4agri for agri input companies and Sat4risk for agri insurers.
Founded in 2018, Satyukt has developed proprietary algorithms processing multi-satellite imagery integrated with various on-field, weather, and market data points to provide crucial insights on water resources, crop health, and risk monitoring.
According to the company, it’s the only satellite data analytics startup that works directly with farmers using a B2C approach.
The company works with clients like Robert Bosch, Adani Group, Marico, Newport G.
