Mumbai Angels invests an undisclosed amount in Agri-tech company GreenSat along with other investors
GreenSat will use the funds to scale operations in new geographies, enhance its tech infrastructure, and build high-performance teams across functions
Mumbai Angels, a premium platform for private investments, has invested in GreenSat Innovation Labs Private Limited, a satellite imagery data analytics company enabling precision farming and risk mitigation for Indian farmers. While the amount remains undisclosed, the round also witnessed the participation of US-based VCs. GreenSat will leverage the fresh capital to scale operations in new geographies, enhance its tech infrastructure, build high-performance teams across functions, and focus on other business development activities.
Nandini Mansinghka, Co-founder and CEO, Mumbai Angels, said, “Precision Farming using satellite data improves crop yield for farmers as they can make informed, real-time crop management decisions. GreenSat’s integrated platform is a confluence of advanced technology, digital finance and more, and I am confident that the fresh capital will enable them to innovate solutions to improve profitability for the agri sector.”
“GreenSat was founded with the mission of transforming the farming industry. It wasn’t just about a single solution but providing end-to-end services and taking the farmers on a journey from poverty to prosperity by giving them access to data on an easy-to-use, completely integrated platform. We stand by our 15k+ happy farmer families who have experienced higher yields and higher profitability, along with better and low-cost funding through GreenSat. Our journey has been further expedited by the confidence Mumbai Angels have shown in us and our potential. With this contribution by MA, we aim to reach and provide a holistic solution to many more farmers, B2B businesses and connect the entire ecosystem through GreenSat,” added Deepak Yadav & Krishna Ghosh, Co-founders, GreenSat Innovation Labs
GreenSat is India’s only Agri-tech company with an integrated approach designed to assist the farmers from the pre-sowing stage to when the crop is sold. The GreenSat app provides real-time information to the farmer on weather, soil, moisture, pest and crop diseases, and solutions. With the introduction of multiple new features, GreenSat will be India’s first Faceless Crop Loan app. The platform will focus on bridging the gaps in the sector by bringing banks, insurance companies, buying entities, and most importantly, the farmers on a single platform. GreenSat acts as a supply chain solution solving one of the most complex and prevalent problems in farming through technology.