Bengaluru-based Agri-Tech Startup Fyllo Raises ~$2 Mn Led by Triveni Trust, Ninjacart and IAN
Fyllo Co-founders Sumit (Left) and Sudhanshu Rai (Right)

  • Fyllo helps farmers grow export quality crops through its data-driven platform that is powered by IoT, AI, and Agronomy
  • The agri-tech startup has developed crop-specific models for irrigation, nutrients, diseases, pests, and weather management for each physiological stage
  • Startup’s precise farming models bring consistency in produced quantity and quality across farms and geography
IAN, an existing investor, joined the US 2mn round in Fyllo, an agri-tech startup led by Triveni Trusts, Ninjacart and new investors Venture Catalysts, StarAgri, Kia Ora Ventures, Singualrity Ventures, Mastermind Capital and angel investors.

The startup will use the capital raised for its expansion to new markets and towards research and development to support more crops.

Founded in 2019, Fyllo brings certainty in quality and quantity of agricultural produce through its data-driven Agri-science platform. Their IoT system understands and measures precise requirements of plants on real-time basis and then Agri-science platform backed by AI provides timely advise to farmers. The startup has developed crop-specific models for irrigation, nutrients, diseases, pests, and weather management for each physiological stage of crop and soil.

Fyllo has expanded its services to 2000+ farmers and 10+ corporates across 4 states in India covering 20,000 acres.

Speaking on the latest development, founders of Fyllo, Sudhanshu Rai and Sumit said, “Farmers have seen the impact of technology and the adaptability has increased. Having received the funding, we are looking to invest in expanding our brand to new markets and more crops.”

Mr. M.K Dhanuka, Managing Trustee, Triveni Trust said, “Fyllo’s specific, precise and AI-driven advise to farmers helps them increase their crop productivity and lower input cost. 100% customer retention reflects the farmer’s confidence in Fyllo’s offering. This will contribute to transforming India through agriculture. We are excited about our investment in Fyllo.”

Fyllo has reduced the risks involved and brought consistency in farming. Along with reducing the cost of cultivation, the platform helped farmers increase the yield and income. On a cumulative basis, farmers have saved over 9 billion litres of water using Fyllo.

Ninjacart co-led this round and Mr. Thirukumaran Nagarajan, Co-founder & CEO , of Ninjacart said, "Fyllo provides actionable insights through a combination of technology, science and data. We look forward to working with Fyllo team to expand their distribution through Ninjacart’s farmer network across the country."

Padmaja Ruparel, co-founder of IAN said, “IAN invests in changemaker-startups like Fyllo — which have witnessed continuous business growth. The founders bring both passion and leadership and we are excited to be a part of the Fyllo journey."

Further adding Mr. Balvinder Singh Kalsi, Managing Director, KiaOra Ventures said, “Fyllo’s offering is a great example of bringing precision farming technology to Indian farmers. This is another step towards doubling farmers income. We are happy to be a part of Fyllo’s future journey.

Indian Angel Network is India’s first and world’s largest business angel network with close to 500 members across the world, comprising the who’s who of successful entrepreneurs and dynamic CEOs. With investors from 12 countries, IAN’s presence spans 7 locations, which includes cities in India and the UK. The network is sector agnostic and has funded start-ups across 19 sectors in India and 7 other countries growing global footprint companies. With an excellent track record, IAN has been giving excellent cash exits year-on-year to its investor members, for the last 12 years. Some of its marquee investee companies include Druva, Spinny, Box8, Uniphore, WOW Momos, Consure, Fareye, NOCCARC, Propelld, Skit.ai amongst many others.

IAN Fund, an INR 375 crore VC fund is a uniquely differentiated seed/early stage Fund that aims to transform India’s entrepreneurial landscape. The fund invests in innovative companies in sectors including healthcare and medical devices, VR, AI, software as a service, marketplaces, fin-tech, big data, artificial intelligence, agritech, and hardware. With this, IAN has created the single largest platform for seed and early-stage investing, enabling entrepreneurs to raise from INR 0.25 to 50 crores.

With this, IAN has created the single largest platform for seed and early-stage investing, enabling entrepreneurs to raise from Rs. 25 lakhs to Rs. 50 crores.
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