Krishitantra, a soil-tech platform, has raised $1 million (Rs 7.6 crore) in its seed round of funding from agritech-focused venture capital investor Omnivore and Nabventures.
Nabventures is anchored by Nabard (National Bank for Agriculture and Rural Development). It has other investors as well. The startup will primarily use the funding to fuel its local and foreign expansion.
“We plan to use the funding to expand our operations across India, reaching lakhs of farmers and helping them realise increased profitability and sustainability via improved soil health,” said Sandeep Kondaji, co-founder & CEO of Krishitantra. The startup also plans to enter select southeast Asian countries in the near future.
Hyderabad based Krishitantra was co-founded in 2017 by Sandeep Kondaji, Vishnuprasada Bhat, and Anand Bellan Raman. The startup provides rapid IoT-based soil testing and soil nutrition advisory solutions to farmers, Farmer Producer Organizations (FPOs), and agribusiness stakeholders. It aims to optimize fertilizer application for farmers, increasing crop yields, reducing the cost of cultivation, and improving soil health.
Nabventures will assist Krishitantra accelerate the spread of its soil testing technology by connecting them with their network of FPOs and leveraging Nabard’s pan-India presence, said the fund’s VP Gills John.
According to Omnivore principal Abhilash Sethi: “Indian farmers are currently unable to accurately test their soil and as a result, fail to use fertilizers in an optimal manner. Omnivore is investing in Krishitantra to democratize precision soil testing and soil nutrition advisory for farmers across India.”
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