Cambridge and Pune-based agricultural technology startup KisanHub has raised $2.43 million in pre-Series A funding.
This round was led by UK-based B2B tech venture capital firms Notion Capital and IQ Capital. Calibrate Management and other angel investors also participated in the round.
KisanHub will use the funds raised to continue developing its proprietary technology, which leverages big data and machine learning to help producers and suppliers within the agricultural industry make decisions.
The news was first reported in AgFunderNews.com
Founded in 2012 by Sachin Shende and Giles Barker, KisanHub is a Crop Intelligence Platform and was borne out of a desire to give farmers everywhere a sophisticated, meaningful yet, simple decision-support. The platform connects enterprises with their growers to provide crop intelligence through crop specific apps and is focussed on in-season agronomy advice on pest/diseases, fertiliser application, irrigation management and yield prediction to reduce the input costs and improve profit margins.
KisanHub uses big data analytics, cloud computing, and machine learning to bring together data from various sources such as satellite imagery, weather stations, and soil sensors in order to help potato farmers make decisions and to help potato sellers manage contracts with yield predictions, pesticide application monitoring and more.
KisanHub software is currently used by 2300 growers in the UK and 700 in India, all paid for by the enterprise customers.
KisanHub’s CEO Dr Sachin Shende, on fresh funding, said, “KisanHub is on an ambitious mission to create a field level data infrastructure of the future and integrate that data with our Crop Intelligence Platform to deliver actionable insights to enterprises and their growers. With the new investment, we will kick start the hardware deployment in the UK, attract new talent into sales and customer success functions and expand our engineering capabilities to deliver end-to-end supply chain solutions.”
KisanHub previously raised a $1 million seed round in 2016 after being accelerated out of the Cambridge University Judge Business School’s Accelerate Program in 2013.
In November 2017, Bengaluru based agri-tech startup KrishiHub has raised undisclosed seed funding from IIT-Kanpur INVENT accelerator and Villgro Innovation Fund.
In the same month, an another agri-tech startup Farmlink had raised seed funding from Pioneering Ventures, a Swiss-based incubator and investment firm, and Syngenta, a Swiss agribusiness firm. The startup is based out of Mumbai.
Earlier, in August, Gurgaon-based agritech startup Crofarm had raised Rs 5 crore in a pre-Series A round from Rajan Anandan, Google India MD, and Jitendra Gupta, and PayU India MD, among others.