Satyukt Analytics Private Limited, a Bengaluru-based agricultural analytics startup, has successfully raised INR 10 crore in a pre-Series A funding round led by NABVENTURES. The infusion of fresh capital will allow Satyukt Analytics to expand its satellite network, enhance its analytics infrastructure, and further refine its algorithms.
The company aims to leverage this funding to expedite the growth of its sat2farm app, which provides farmers with data-driven insights. Additionally, Company plans to develop the sat2credit app, aiding BFSI players in evaluating a farm’s creditworthiness and credit risk. Furthermore, they have intentions to introduce new products, including sat4agri for agri input companies and sat4risk for agri insurers.
“We are delighted to maintain our partnership with NABVENTURES as we continue to revolutionize the agriculture industry. Our app users have access to the power of advanced data analytics and remote sensing, allowing them to make informed decisions. By harnessing these cutting-edge technologies, we provide agriculture stakeholders with accurate, real-time data that positively impacts their operations,” stated Dr. Sat Kumar, CEO of Satyukt.
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Satyukt: Bridging the Gap Between Technology and Agriculture
Satyukt is a state-of-the-art decision analytics platform that employs satellite remote sensing, machine learning, and big data analytics to address large-scale challenges in the agriculture, banking, financial services, and insurance sectors worldwide.
NABVENTURES Fund, with NABARD as an anchor investor, is an agri-food and rural tech VC fund in India. The fund has made investments in companies such as Jai Kisan, Unnati, and Vilcart. Shaji K. V, Chairman of NABARD, expressed his views on Satyukt, stating, “Satyukt is a unique agritech startup that leverages the power of satellite data and remote sensing to benefit farmers.
The potential for Company is immense, and it is a promising candidate for inclusion in the AgriStack platform recently announced by the Central Government.”
Satyukt Analytics has successfully secured INR 10 crore in pre-Series A funding, with NABVENTURES leading the investment round. This funding will play a crucial role in expanding Company satellite network, enhancing their analytics infrastructure, and refining their algorithms.
The company is committed to empowering farmers with data-driven insights through their sat2farm app, while also providing valuable tools like the sat2credit app for BFSI players to assess farm creditworthiness. Satyukt’s dedication to innovation is evident in their plans to introduce new products such as sat4agri for agri input companies and sat4risk for agri insurers.
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CEO Dr. Sat Kumar expressed enthusiasm for the continued partnership with NABVENTURES and their shared vision of transforming the agriculture industry. Satyukt’s advanced technologies, including satellite data, remote sensing, machine learning, and big data analytics, enable agriculture stakeholders to access accurate real-time information that enhances decision-making processes and positively impacts operations.
With NABARD as an anchor investor, NABVENTURES Fund recognizes the immense potential of Satyukt’s unique approach to harnessing satellite data and remote sensing for the benefit of farmers. Their inclusion in the AgriStack platform, announced by the Central Government, further underscores their significance in the agritech space.
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