Fyllo Secures $4 Million to Expand Precision Agriculture Solutions

fyllo Secures Funding
Preeti Bali / 7:23 am / May 31, 2024

Fyllo, a leading agritech startup, has successfully secured $4 million in a new funding round. This round was led by India Quotient and SIDBI Ventures, demonstrating strong investor confidence in Fyllo’s innovative approach to agriculture. Existing investors, including Triveni Trusts, IAN, and KIAORA, also participated in the round.

Funds Fuel Expansion and Product Development

Fyllo plans to utilize the raised capital for strategic expansion into new geographic regions and diversification of its crop offerings. Additionally, the company will focus on developing a wider range of precision agriculture products. These advancements aim to empower farmers with even more comprehensive solutions to optimize their agricultural practices.

Harnessing Technology for Farm Success

Founded in 2019 by Sudhanshu Rai and Sumit Sheoran, Fyllo leverages the power of the Internet of Things (IoT) to provide data-driven solutions for farmers. Their core offering involves installing farm-based IoT devices equipped with multiple sensors. These sensors collect valuable data from the soil, crop canopy, and surrounding environment.

Data-Driven Insights for Improved Yields

The collected data is then analyzed by Fyllo’s sophisticated machine learning algorithms. These algorithms generate tailored recommendations for farmers, delivered conveniently through a mobile application available in all major Indian languages. This user-friendly approach ensures accessibility for a broad base of farmers.

Proven Impact: Increased Yields and Income

Fyllo’s commitment to empowering farmers is evident in their impressive track record. Over 8,000 farmers across more than 50,000 acres currently utilize Fyllo’s services. These farmers have consistently reported significant improvements, including a 25% increase in yield, 80% of produce meeting export quality standards, and a 30% rise in income.

Scaling the Solution: Expanding Reach and Offerings

With this fresh injection of capital, Fyllo is well-positioned to expand its reach and offerings. The company plans to build upon its existing success by expanding geographically and introducing new precision agriculture products. This commitment to growth positions Fyllo to become an even more impactful force in the agricultural sector.

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