Agritech startup Fyllo raises $4 million in funding led by IndiaQuotient, SIDBI Ventures
Fyllo has announced that it has raised $4 million in a fresh funding round led by IndiaQuotient and SIDBI Ventures.
Existing investors Triveni Trusts, IAN, and KIAORA participated in the round. Fyllo said it will use the funds to expand into new geographies and crops and develop more precision agriculture products.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisit“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," said Sudhanshu Rai, cofounder of Fyllo.
India is an agrarian country with the agriculture sector accounting for about 58% of the population and 14% of the GDP. While the majority of the technology-led players in Indian agriculture are business-to-business (B2B), there are a few outcomes in the business-to-consumer (B2C) space as well, covering the entire chain from farm to fork and thereby accreting a large profit pool.
B2B players like Absolute Foods, Arya.Ag, Dehaat, Farmart, Captain Fresh, Vegrow, Bighaat, Agnext, Bijak among others and B2C players like Country Delight, Licious are occupying niches and creating value within their respective value chain
