Satellite agri analytics startup Satyukt secured Rs. 10 Cr from NABVENTURES
Satyukt Analytics, a startup in agri analytics, has raised Rs 10 crore from NABVENTURES, a venture growth equity fund backed by NABARD (National Bank for Agriculture and Rural Development), as part of a pre-Series A round.
The Bengaluru-based startup had previously received seed funding from Nabventures and Social Alpha in October 2020 for a total of Rs 3.7 crore.
Satyukt uses machine learning and satellite technology to offer farmers SaaS-based advisory services. With the most recent earnings, the business will be able to quicken the creation of its Sat2farm app, which gives farmers data-driven insights. With the help of new products like Sat4agri for agri input companies and Sat4risk for agri insurers, the Sat2credit app assists BFSI players in assessing a farm’s creditworthiness and credit risk.
In order to provide critical insights on water resources, crop health, and risk monitoring, Satyukt, founded in 2018, has developed proprietary algorithms processing multi-satellite imagery combined with various on-field, weather, and market data points.
The business claims to be the sole satellite data analytics startup that employs a B2C strategy when dealing with farmers.
Customers of the business include Robert Bosch, Adani Group, Marico, and Newport G.
