Agritech Startups: This development comes when venture capital-backed agriculture technology startups are struggling to scale margins on mainstay business and have pared workforces to cut costs.
The Bengaluru-headquartered startup works with horticulture farmers by providing them patented Internet-of-Things-crop intelligence technology over 75,000 acres
According to the report from consulting firm FSG, the funding slump will continue into FY24 before springing back in FY25 and startups will continue focusing on profitability to tide over the next financial year.
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The startup provides farmers access to storage services for eight-nine months after the harvest and the farmers can then access credit for up to 70% of their stored and digitised grain.