Fyllo raises $4 million in fresh funding led by India Quotient and SIDBI Ventures

Fyllo Raises $4 Million in Fresh Funding, Led by India Quotient and SIDBI Ventures

Bengaluru: Agritech startup Fyllo has raised $4 million in a fresh funding round led by India Quotient and SIDBI Ventures, with existing investors Triveni Trusts, IAN, and KIAORA participating in the round, the company said in a press release.

Key Highlights:

• Fyllo raises $4 million in fresh funding led by India Quotient and SIDBI Ventures
• The proceeds will be used to expand its operations in new geographies and crops along with developing more precision agriculture products.
• Fyllo has developed AI-based prediction models that can suggest good agri processes to farmers that bring about consistency in farm produce and quality

Expansion Plans and AI-Based Precision Agriculture

According to the company, the proceeds will be used to expand its operations in new geographies and crops, along with developing more precision agriculture products. Fyllo has developed AI-based prediction models that can suggest good agricultural processes to farmers that bring about consistency in farm produce and quality.

Enhancing Farmer Engagement and Product Development

“We are seeing a surge in the adoption of precision agriculture. Farmers are using mobile phones to make 90 percent of their decisions. With this funding, we would like to work even more closely with farmers, build new and better products, and expand our reach to farmers and other geographies,” Sudhanshu Rai and Sumit, Founder of Fyllo said.

Impact on Farmers and Future Plans

Currently, over 8,000 farmers are using Fyllo’s services on more than 50,000 acres and have received 25 percent more yield, 80 percent export-quality produce, and 30 percent more income, the company said. After this round of fund raising, Fyllo plans to make its current offering widespread by expanding around its existing geographies and working on expanding its product offerings.

Investor Insights on Fyllo’s Potential

Commenting on the fund raising, Sahil Makkar of India Quotient said, “The Indian agricultural sector has long grappled with the uncertainties of erratic weather and crop wastage, causing farmers to fall short of meeting global benchmarks for productivity, efficiency, and output quality. However, a new generation of farmers is emerging, equipped with technological know-how and a willingness to adopt innovative practices to drive improvement. We strongly believe in Fyllo’s potential to harness this shift, increase adoption rates in precision agriculture, and expand its product suite to reach millions of farmers across India.”