Satyukt Analytics, a startup based in Bengaluru, specializes in agri analytics. They leverage satellite technology and machine learning to offer SaaS-based advisory services directly to farmers through their mobile app, Sat2Farm.
Recently, they secured successful pre-Series A funding of Rs 10 crores led by NABVENTURES, enabling Satyukt to accelerate the growth of their app and introduce new products like Sat4Agri and Sat4Risk. These tools empower farmers with data-driven insights and assist BFSI players in evaluating farm creditworthiness and credit risk.
Sat2Credit is a groundbreaking tool that conducts in-depth analysis at the farm level. Historically, assessing creditworthiness in agriculture has been challenging due to limited data access and remote locations.
Sat2Credit addresses this issue by providing comprehensive farm-level analysis, allowing banks and financial institutions to make informed lending decisions. By leveraging this tool, lenders can assess creditworthiness, determine credit scores, structure loans more effectively, expedite the lending process, and tailor loan offerings to farmers’ specific needs. The exhaustive analysis provided by Sat2Credit offers valuable insights into the financial health, productivity, and risk profile of agricultural producers.
Shaji K. V., chairman of NABARD, commended Satyukt as a unique agritech startup that harnesses the power of satellite data and remote sensing to benefit farmers. The potential of Satyukt’s offerings is significant, and it is a strong contender for inclusion in the AgriStack platform announced by the Central Government.
Dr. Sat Kumar, CEO of Satyukt, expressed excitement about the ongoing partnership with NABVENTURES, emphasizing their mission to revolutionize the agriculture industry. By leveraging advanced data analytics and remote sensing technologies, Satyukt aims to provide agriculture stakeholders with access to accurate, real-time data that can enhance decision-making and positively impact operations.
NABVENTURES Fund, with NABARD as an anchor investor, is India’s leading venture capital fund in the agri, food, and rural tech sector. The fund has invested in prominent companies like Jai Kisan, Unnati, and Vilcart.
