SatyuktAnalytics Raises INR 10 Crore From NABVENTURES Fund The fresh infusion of capital will enable Satyukt Analytics to expand its satellite network, enhance its analytics infrastructure, and further refine its algorithms
By Teena Jose
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Satyukt Analytics Private Limited, a Bengaluru-based agri analytics startup, has raised INR 10 crore in pre-Series A funding round led by NABVENTURES. According to the company, the fresh infusion of capital will enable Satyukt Analytics to expand its satellite network, enhance its analytics infrastructure, and further refine its algorithms. It also added that this funding enables Satyukt to accelerate the growth of sat2farm app that empowers farmers with data- driven insights, sat2credit app that helps BFSI players to evaluate a farm's creditworthiness and credit risk and introduce new products such as sat4agri for agri input companies and sat4risk for agri insurers.
"We are thrilled to continue our partnership with NABVENTURES on our journey to revolutionise the agriculture industry. We have put the power of advanced data analytics and remote sensing at the fingertips of our app users. By leveraging these cutting-edge technologies, we enable agriculture stakeholders to access and utilise accurate, real-time data that can drive their decision-making processes and positively impact their operations," said Dr Sat Kumar, CEO, Satyukt.
Satyukt is a cutting-edge decision analytics platform that provides improvements in satellite remote sensing, machine learning, and big data analytics to answer large-area issues in the agriculture, banking, and financial services industries, as well as insurance firms around the world.
NABVENTURES Fund in which NABARD is an anchor investor, is an agri, food and rural tech VC fund in India with investments in Jai Kisan, Unnati, Vilcart etc. NABARD chairman, Shaji K. V, said that, "Satyukt is a unique agritech startup harnessing the power of satellite data and remote sensing for the benefit of farmers. The potential is immense for Satyukt and it is a good candidate for inclusion in the AgriStack platform announced by the Central Government."
