MapMyCrop has raised Rs 15.7 crore in funding led by YourNest Venture Capital to enhance their operations and technology. They leverage satellite imagery and AI for crop monitoring and plan to launch additional solutions like an AI-based farm credit tool. Expansion into new markets is also part of their strategy.
Agri-tech startup MapMyCrop has successfully raised Rs 15.7 crore (approximately $1.8 million) in seed funding, announced on March 6. This funding round was spearheaded by YourNest Venture Capital, with participation from angel investors like Eaglewings Ventures. The funds aim to enhance operations, complete pilot orders, bolster sales and operations teams, and upgrade platform technology.
Utilizing satellite imagery and artificial intelligence, MapMyCrop offers innovative crop monitoring services, allowing farmers to track their crops, accurately predict yields, and streamline supply chains. The startup is also working on launching new solutions, including an AI-driven farm credit score tool and a dedicated forest monitoring system.
Founder and CEO Swapnil Jadhav shared the company’s ambition, stating, “Our plan is to scale our cutting-edge solutions, delivering unparalleled accuracy and impact to drive sustainability and productivity.” In line with its growth strategy, MapMyCrop aims to expand into emerging markets in Africa, Latin America, and Southeast Asia while further solidifying its presence in the U.S. and Europe, focusing on region-specific agricultural solutions.
MapMyCrop’s recent funding milestone signifies not only investor confidence but also a commitment to revolutionizing agriculture through technology. With aspirations to enhance sustainability and productivity, the startup is poised to make significant strides in both local and emerging markets.
Original Source: www.zeebiz.com
