Satyukt Analytics Private Limited, a Bengaluru-based agri analytics startup that offers SaaS-based advisory services directly to farmers, including small and marginal farmers, through the sat2farm mobile app, is thrilled to announce a successful pre-Series A funding round led by NABVENTURES.

With this funding, Satyukt is able to develop new products like sat4agri for agricultural input companies and sat4risk for agricultural insurers while also accelerating the growth of its existing products like the sat2farm app that provides farmers with data-driven insights and the sat2credit app that aids BFSI players in assessing a farm's creditworthiness and credit risk.

With the use of a patented technology developed by Satyukt, stakeholders can evaluate the quality of the soil without having to travel to the farm by quickly measuring the nutrients content of farm soil.

A lack of trustworthy data and remote locations have historically made it challenging to evaluate creditworthiness in the agricultural sector.

Sat2credit is a ground-breaking solution for the BFSI sector since it offers in-depth farm-level research and insights that empower banks and other financial institutions to make individualized decisions about digital lending.

With the help of Sat2credit, lenders may more effectively arrange loans, evaluate potential borrowers' creditworthiness, determine their credit scores, speed up the financing process for farmers, and customize loan offers to suit their individual requirements. The thorough analysis performed by Sat2Credit provides crucial information about the risk profile, productivity, and financial health of producers.

NABARD Chairman, Mr. Shaji K. V. mentioned, “Satyukt is a unique agritech startup harnessing the power of satellite data and remote sensing for the benefit of farmers. The potential is immense for Satyukt and it is a good candidate for inclusion in the AgriStack platform announced by the Central Government”.

“We are thrilled to continue our partnership with NABVENTURES on our journey to revolutionise the agriculture industry. We have put the power of advanced data analytics and remote sensing at the fingertips of our app users. Dr Sat Kumar, CEO of Satyukt, commented, “By leveraging these cutting-edge technologies, we enable agriculture stakeholders to access and utilise accurate, real-time data that can drive their decision-making processes and positively impact their operations.”

Rajesh Ranjan, CEO of NABVENTURES, remarked, “Satyukt Analytics is the only startup in India to measure nutrients in soil using satellite data. It is the only satellite data analytics startup, which works directly with farmers through its sat2farm app using a b2c approach while all other players have chosen the b2b2c route. Satyukt is a global SaaS in the making and has the best satellite data analytics and remote sensing team with advanced AI/ML capabilities. Satyukt’s sat2credit platform is a great product for inclusion in loan management systems (LMS) of digital lenders and fintechs”.