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Precision Agri Platform Fyllo Raises $4 Million in Funding Led by IndiaQuotient and SIDBI Ventures

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Agritech startup Fyllo has successfully raised $4 million in a new funding round led by IndiaQuotient and SIDBI Ventures. The round also saw participation from existing investors Triveni Trusts, IAN, and KIAORA.

The fresh capital will be utilized by Fyllo to expand its operations into new geographies and diversify its crop offerings. Additionally, the funds will support the development of more precision agriculture products.

Fyllo’s precision agriculture platform leverages AI-based prediction models to suggest optimal agricultural practices to farmers. This innovation aims to bring consistency to farm produce and improve quality, addressing challenges posed by global warming, reduced soil health, and unpredictable pest and disease outbreaks.

Founders Sudhanshu Rai and Sumit remarked, “We are seeing a surge in the adoption of precision agriculture. Farmers are using mobile phones to make 90% of their decisions. With this funding, we would like to work even more closely with farmers, build new and better products, and expand our reach to farmers and other geographies.”

Currently, over 8,000 farmers use Fyllo’s services on more than 50,000 acres of land, achieving remarkable results: 25% higher yield, 80% export-quality produce, and a 30% increase in income.

Sahil Makkar from IndiaQuotient highlighted the transformative potential of Fyllo’s platform, stating, “The Indian agricultural sector has long grappled with the uncertainties of erratic weather and crop wastage, causing farmers to fall short of meeting global benchmarks for productivity, efficiency, and output quality. However, a new generation of farmers is emerging, equipped with technological know-how and a willingness to adopt innovative practices to drive improvement. We strongly believe in Fyllo’s potential to harness this shift, increase adoption rates in precision agriculture, and expand its product suite to reach millions of farmers across India. This endeavour elevates productivity and output quality and addresses climate challenges in agriculture.”

Farmers who have integrated the Fyllo platform into their practices have also realized significant environmental benefits. They have reduced chemical usage by 35%, cut irrigation needs by approximately 50%, saved over 100 billion liters of water, and reduced carbon emissions by 4 million kilograms.

Chintan from SIDBI Ventures emphasized the importance of Fyllo’s role in addressing climate change and reducing crop wastage, saying, “Given the climate change scenario and crop wastage, Fyllo, through its precision agriculture platform, is helping farmers to make better decisions. The market for precision agriculture is growing, and based on Fyllo’s record of strong retention, we expect them to tap a larger chunk of this market.”