Pune-based Shivrai Technologies, which owns and operates an agriculture ERP (enterprise resource planning) platform FarmERP, has raised an undisclosed amount in the Series-A investment round from Singapore-based software firm Technogen IT Services.
“The company will use the funds to combine the FarmERP platform with Climate Resilient Intelligence. It will also be used to enter new markets and geographies to solve the problems agriculture faces in those regions,” Santosh Shinde, co-founder and COO, said in a statement on Monday.
FarmERP will employ artificial intelligence, machine learning, computer vision and blockchain technologies to help users mitigate climate risks in agriculture and achieve sustainability, the statement said.
FarmERP is being deployed in more than 25 countries. With 23 modules and over 600 screens, the ERP platform serves agribusiness companies, financial institutions, crop insurance companies, governments, non-governmental organisations, farmer producer companies, and research and development institutions.
The list of clientele, which has over 500 clients, includes Mahindra & Mahindra, DS Group, Murugappa Group, Plantheon Group, Anadolu Etap, Azersun and customers spanning across the US, Latin American regions, Africa, Middle East and Southeast Asia, the company said in response to a TechCircle query.
The company, since its inception 18 years ago, has been helping agricultural businesses harness the power of smart agriculture to achieve higher efficiency, yields, profitability and complete traceability, Sanjay Borkar, co-founder and CEO of FarmERP, said.
Former computer engineers Borkar and Shinde launched the agri-tech platform, then dubbed as Farm Management Software, in 2001. In 2007, it was renamed as FarmERP.
Other recent funding for agri-tech companies:
In December, venture lender Stride Ventures had invested an undisclosed sum in Bengaluru-based Stellapps Technologies, an agri-tech startup that uses a full-stack IoT (internet of things) solution SmartMoo to digitise supply chains in the dairy sector.
In October, Fasal, an agriculture analytics platform owned by Bengaluru-based Wolkus Technology Solutions, raised $1.6 million in a seed-funding round from new and existing investors. New investors in the round included impact venture capital firm Omnivore and Singapore-based early-stage investor Wavemaker Partners.