Satyukt Analytics Private Limited, a Bengaluru-based agritech analytics start-up has raised Rs 10 crore investment from NABVENTURES, a venture growth equity fund backed by NABARD (National Bank for Agriculture and Rural Development) in its pre-Series A funding round. 

The transaction was supported by Equity 360's Sumeet Seraf.

The newly generated fund will help the company to develop multiple applications like  Sat2farm and Sat2credit. Both applications are expected to make the lives of farmers easy. Sat2farm will empower the farmers with data-driven insights, whereas Sat2credit will help BFSI players evaluate a farm's creditworthiness and credit risk. 

Commenting on the association, NABARD Chairman, Shri Shaji K. V. said, “Satyukt is a unique agritech startup harnessing the power of satellite data and remote sensing for the benefit of farmers and lenders interested in funding the agriculture sector. The association with Satyukt aligns with our thought processes and beliefs.”

“Satyukt is a global SaaS in the making with a remarkable satellite data analytics and remote sensing team having advanced AI/ML capabilities. We are happy to support them in their endeavour towards transforming India’s agrarian sector by providing data-backed solutions for financing farmers and improving land productivity”, said Rajesh Ranjan, CEO of NABVENTURES.

Sat Kumar, CEO of Satyukt, commented, "NABVENTURES’ investment strengthens our resolve to leverage cutting-edge technologies to enable our stakeholders from India’s agriculture sector to access and utilise accurate, real-time data that can drive their decision-making processes and positively impact their operations."