Agri-tech startup LeanAgri has raised an undisclosed amount in a seed round led by venture capital firm India Quotient. It was joined by angel investors, a senior executive of the company told in a report.
Others who participated in the round include Better Capital’s AngelList India Syndicate; Sachin Oswal, co-founder of online commerce player Infibeam; Ajay Prabhu, chief operating officer at Quest Global; and Hari Balasubramanian, an angel investor, the executive said.
“This investment will be used for product development to make the farmer-centric product and service more impactful and user-friendly. With the revamped product, we plan to expand to more number of farmers in existing locations,” said Sai Gole, co-founder of LeanAgri, owned by LeanCrop Technology Solutions Pvt. Ltd.
Founded in April 2017 by Gole and Siddharth Dialani, LeanAgri works to design solutions for optimising farming in India by improving productivity and reducing the cost of production for farmers. Both Dialani and Gole are engineering graduates from the Indian Institute of Technology (IIT), Madras. Dialani has previously worked with Housing.com while Gole has had a stint at ITC Ltd as project manager.
“India is a proud producer of crops like wheat, cotton, sugarcane but our productivities are less than a third of the other countries. We are trying to solve this crucial problem with the help of technology. Our personalised farming techniques for farmers based on farm data provide impact by improving the quality and quantity of the production,” Gole said.