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The startup has developed solutions for every stage of farming — starting from soil testing, what to grow, how to grow, to when to sell for agriculturists
Mumbai-based RML AgTech, a startup providing smart-farming solutions on mobile phones, has raised US$4 million from IvyCap Ventures. The funds were raised in multiple tranches in 2016.
The funds will be utilised to strengthen RML’s IT backbone and to bring in new products and features on its current offerings.
RML AgTech provides customised smart farming solutions to enhance crop productivity and earnings of the farmers. It has developed app-based solutions for every stage of farming — starting from soil testing, what to grow, how to grow, where and when to sell for agriculturists. The services are accessible on smartphones in a personalised manner, complemented with multiple languages and on-call service.
Vikram Gupta, Founder and Managing Partner of IvyCap said: “The agriculture sector in India today stands at an inflection point where food security for future will be determined. And it is the agri-tech sector that has the potential to address the challenges we face today. We found the product and strategy model of RML AgTech to principally to address these concerns and hence a huge potential for the time to come.”
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Rajiv Tevtiya, Managing Partner and CEO at RML AgTech said: “We believe, with the increased penetration of smart phones in the rural area and the push given by the government to go digital, accessibility of our products to farmers will see significant growth over the next two to five years. Upgrading of technology in agriculture sector will also boost farmer income and help achieve the vision of doubling farmer income by 2022.”
RML is present in 16 states in India.
Image Credit: supparsorn / 123RF Stock Photo
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