Agritech firm GreenSat raises funds from Mumbai Angels

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GreenSat Innovation Labs Private Limited, a satellite imagery data analytics company enabling precision farming and risk mitigation for Indian farmers has announced it has raised undisclosed funds from Mumbai Angels, US-based VCs.

GreenSat will leverage the fresh capital to scale operations in new geographies, enhance its tech infrastructure, build high-performance teams across functions, and focus on other business development activities.

Deepak Yadav and Krishna Ghosh, Co-Founders, GreenSat Innovation Labs, said GreenSat was founded with the mission of transforming the farming industry. It wasn’t just about a single solution but providing end-to-end services and taking the farmers on a journey from poverty to prosperity by giving them access to data on an easy-to-use, completely integrated platform. With this contribution by Mumbai Angels, we aim to reach and provide a holistic solution to many more farmers, B2B businesses and connect the entire ecosystem through GreenSat,” added

Nandini Mansinghka, Co-founder and CEO, Mumbai Angels, said, “Precision Farming using satellite data improves crop yield for farmers as they can make informed, real-time crop management decisions. GreenSat’s integrated platform is a confluence of advanced technology, digital finance and more, and I am confident that the fresh capital will enable them to innovate solutions to improve profitability for the agri sector.”

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GreenSat has an integrated approach designed to assist the farmers from the pre-sowing stage to when the crop is sold. The GreenSat app provides real-time information to the farmer on weather, soil, moisture, pest and crop diseases, and solutions. With the introduction of multiple new features, GreenSat will be India’s first Faceless Crop Loan app, the company said in a statement.

The platform will focus on bridging the gaps in the sector by bringing banks, insurance companies, buying entities, and most importantly, the farmers on a single platform. GreenSat acts as a supply chain solution solving one of the most complex and prevalent problems in farming through technology, it added.

Source: The Free Press Journal.