Fyllo funding

fyllo funding

Agritech startup, Fyllo announced that it has raised Rs 3 crore from Indian Angel Network (IAN), Titan Capital, and Lead Angels. 

The Bengaluru-based startup plans to use the freshly infused capital for expanding to new markets and for research and development to support more crops. It had previously raised funds from 100X.VC. 

Commenting on the development, co-founders Sudhanshu Rai and Sumit Sheoran said, “We believe Fyllo will help farmers to improve production by 25 percent, and the total cost of production will also reduce by $700. Plus, there will also be an improvement in export quality by up to 81 percent, thereby fetching double the price on increased export produce. Having received the funding from IAN, we are looking to invest in expanding our brand to new markets.”

Coming from families who are associated with agriculture, Fyllo co-founders were involved in agriculture since their childhood, which led them to identify the practical challenges farmers face. 

After ample research, the co-founders realized that a data-driven decision support system for farmers will be very important in eliminating crop loss and help in decreasing the cost of production. 

Founded in 2019, Fyllo helps farmers grow export quality crops via its data-driven platform powered by IoT, AI, and agronomy. The startup has built crop-specific models for irrigation, nutrients, diseases, pests, and weather management for each physiological stage. Besides, it also claims to provide the best cultural practices at each stage of the crop.

Commenting on the investment, Padmaja Ruparel, Co-founder, IAN, said, “The market size for precision agriculture in India is around $7 billion and is growing at 18 percent YoY. With Fyllo’s crop models, farmers can reduce input cost and wastage and increase crop quality and quantity. We were very excited by Fyllo’s next-gen agriculture innovation, providing farmers with a solution on their mobiles. We do believe that Sudhanshu and Sumit can build an impactful business catering to Indian and the global farmer community.” 

The startup’s corporate/contract farming models deliver consistency in produced quantity and quality across farms and geography. Its 360-degree view dashboards supported with real-time farm data helps the management team to render better decision-making ability to farmers.

Fyllo appears to be an interesting platform in the agritech space offering innovative solutions to problems faced by the farmers. I’m sure the startup will reach new heights. My best wishes to the team of Fyllo.

Shishir Gupta, Founder and CEO, StartupLanes

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