Agritech Startup Fyllo Secures A $4M Funding Round With IndiaQuotient, SIDBI Ventures, Among Other Investors

Paytm's Vijay Shekhar Sharma Invests in TechEagle

Three points you will get to know in this article:

  • Fyllo raises $4M to expand precision agriculture offerings and reach new regions
  • Fyllo’s IoT-powered platform boosts yields by 25%, export-quality produce by 80.
  • Investors bullish on Fyllo’s success in precision agriculture market.

Introduction to Fyllo

Fyllo logo

Fyllo is an agricultural technology company founded in 2019 with the goal of making decision-making in agriculture easy and accurate. Fyllo provides professional agricultural services, precision farming and advanced analytics solutions, and expertise in agronomy, climate science, and technology development to help farmers and agribusinesses make data-driven decisions that maximize yields, minimize risks, and enhance environmental sustainability. The company has developed over 100 agronomy models to help producers grow more than 20 different crops, and its platform empowers farmers with a wealth of information, from weather forecasts to soil moisture levels, to optimize their operations and profitability.

Fyllo Secures $4 Million in Funding

Established in 2017 by CEO Vikram Singh and COO Anshu Abhishek, TechEagle specializes in using drones for last-mile delivery of various goods such as healthcare products, food, and parcels. CEO Vikram Singh Meena outlined the company’s vision, saying, “With the backing of our investors, we plan to scale our operations nationwide to facilitate quicker and more cost-effective deliveries.” The startup’s flagship product, ‘Vertiplane X3,’ is noteworthy for its 100 km flight range, 5 kg payload capacity, and speed of 120 km/h. It boasts a client base that includes prestigious institutions such as AIIMS, various state governments, and the World Bank.

Leveraging IoT, Machine Learning, and AI for Optimal Farming Practices

Established in 2019 by Sudhanshu Rai and Sumit Sheoran, the startup employs an IoT device equipped with multiple on-field sensors to gather data from the soil, crop canopy, and surrounding environment. This data is then analyzed by machine learning algorithms to offer farmers recommendations through a mobile app available in all major Indian languages.

Fyllo’s precision agriculture platform leverages AI-driven predictive models to recommend optimal farming practices, thereby improving the consistency and quality of farm yields. As stated by Fyllo founders Sudhanshu Rai and Sumit Sheoran, “The adoption of precision agriculture is rapidly increasing. Farmers now rely on mobile phones for 90% of their decision-making. With this new funding, we aim to strengthen our collaboration with farmers, develop enhanced products, and broaden our reach to new regions and more farmers.”

Increased Yields, Export-Quality Produce, and Income for Farmers

Fyllo has reported that its services are currently being utilized by over 8,000 farmers across more than 50,000 acres. The company asserts that these farmers have consistently experienced a 25% increase in yield, produced 80% export-quality produce, and seen a 30% rise in income. Furthermore, Fyllo has been instrumental in reducing chemical usage by 35%, decreasing irrigation requirements by approximately 50%, conserving over 100 billion liters of water, and cutting carbon emissions by 4 million kilograms.

Precision Agriculture Market Expansion and Fyllo's Competitive Advantage

Sahil Makkar from IndiaQuotient expressed optimism about Fyllo’s capacity to leverage the changing landscape in the Indian agriculture sector. This shift is attributed to a cohort of tech-savvy farmers embracing novel methods to improve productivity and quality standards, overcoming historical challenges like erratic weather conditions and crop failures. Makkar foresees Fyllo playing a pivotal role in advancing precision agriculture, expanding its solutions, and ultimately empowering numerous farmers across India.

Chintan from SIDBI Ventures commented that in light of the challenges posed by climate change and crop wastage, Fyllo’s precision agriculture platform is assisting farmers in making more informed decisions. The precision agriculture market is expanding, and with Fyllo’s impressive track record of customer retention, they are expected to capture a significant portion of this market.

Bengaluru-based agritech startup Fyllo has secured $4 million in funding to expand its precision agriculture offerings. Fyllo’s IoT-powered platform leverages machine learning and AI to provide data-driven recommendations to over 8,000 farmers across 50,000+ acres, leading to 25% higher yields, 80% export-quality produce, and 30% increased incomes. The funding will enable Fyllo to broaden its reach, diversify crop offerings, and improve its solutions. Investors are optimistic about Fyllo’s ability to capitalize on the growing precision agriculture market, as tech-savvy farmers increasingly embrace data-driven farming practices to address challenges like climate change and crop failures.

Peenak Maheshwari

Start typing and press Enter to search

Shopping Cart