Pune-based agritech startup FarmERP has raised an undisclosed amount of funds in Series A round from strategic investor Technogen, reported Inc42.
The startup plans to use the fresh capital to help its customers to reduce risks associated due to climate change in order to boost agriculture and achieve sustainability by building Artificial Intelligence-based climate change resilience intelligence.
Talking about their plans, Sanjay Borkar, CEO and co-founder of FarmERP, said, “Now we focus on climate-resilient agriculture. Predictable and intelligent agriculture is the future and we are committed to empower our clients across the globe to take on new challenges in this competitive landscape.”
Founded by Sanjay Borkar and Santosh Sinde in 2006, FarmERP offers a smart agriculture platform to help its customers ranging from individual farm operators to agribusinesses to achieve higher efficiency, higher yields and higher profitability.
According to a NASSCOM report titled “Agritech in India: Emerging Trends in 2019”, out of over 3,100 agritech startups in the world, India has 450 agritech startups. With more startups focused on agriculture, Indian farmers might get some help in terms of better productivity and better yield.
Some of the other startups competing with FarmERP in the agritech space include Ninjacart, Crofarm, FarmLink, Cropin and farMart, among many others.
In similar news, last week another agritech startup Nu Genes raised ₹42 crores from Sathguru Catalyzer Advisors’ IFA Fund. Earlier this month, B2B agritech startup Bijak secured ₹18 crores from Omidyar Network, others.