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#News(AgriTech) [ via IoTForIndiaGroup ]
Mahindra & Mahindra’s Farm Equipment Sector (FES) has invested Rs 30 crore (4.3 million Swiss francs) in Series B round to pick up 11.25 percent stake in Switzerland-based agricultural technology company Gamaya.
Mahindra & Mahindra, which is a multinational car manufacturer, announced the deal in a stock-exchange filing on Friday.
Mahindra led the funding round of Gamaya, which raised a total of 7.5 million Swiss francs from investors including ICOS Capital, VI Partners, and some other existing investors.
Incorporated in 2015, Gamaya focuses on providing technology solutions for agriculture. It has advanced capabilities in Hyperspectral Imagery Analytics, Artificial Intelligence, and Machine Learning, which capture and interpret images to give farmers information about the state of their fields and crops. It operates primarily in Brazil, India, Switzerland, and Ukraine.
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