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The startup has developed app-based solutions for every stage of farming, starting from soil testing to when to sell the produce
Mumbai-based RML AgTech, a startup providing smart farming solutions in India, has raised $4 million in funding from IvyCap Ventures.
The funds were raised in multiple tranches from IvyCap Ventures in 2016.
The funds will be utilized to strengthen RML’s IT backbone and to bring in new products and features.
RML AgTech provides customized smart farming solutions to enhance crop productivity and earnings of the farmers. The company 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.
On the development, 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 India 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.”
Rajiv Tevtiya, Managing Partner and CEO of RML, said, “We believe, with the increased penetration of smartphones 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 2-5 years. Upgrading of technology in agriculture sector will also boost farmer income and help achieve the vision of doubling farmer income by 2022, as laid out by Prime Minister Narendra Modi.”
RML is present in 16 states in India and its services are cost effective.
