& Mahindra’s Farm Equipment Sector (FES), a part of the Mahindra Group
announced an investment of CHF 4.3 million (US$4.3 million- Rs 30.04 crore
approx.) for an 11.25% stake in Switzerland based agri technology firm Gamaya
investment will be through a subscription to 300 Common Shares and 30,469
Series B Preferred Shares of Gamaya SA. ICOS Capital, VI Partners and some
existing investors also participated in the CHF 7.5mn Series B funding round. Through
this investment, Mahindra will make superior farming solutions easily
accessible to the global farming community, in line with the company’s Farming
on the strategic partnership, Rajesh Jejurikar, President, Farm Equipment
Sector Mahindra & Mahindra noted, “With agriculture increasingly becoming
technology-intensive, we at Mahindra are investing in future ready technologies
to provide complete solutions to the global farming community. Our strategic
association with Gamaya will enable us to develop and deploy next-generation
farming capabilities such as precision agriculture and digital farming
technologies. With this partnership, we expect to set new benchmarks in farming
and its related services”.
Akhtman, Co-founder and CEO of Gamaya, said, “Agriculture is a complex industry
that is undergoing rapid transformation towards efficiency and sustainability. The
success of this process will undoubtedly rely on the collaboration between
established industry leaders and innovators. We are excited to have Mahindra as
an investor and strategic partner to help Gamaya bring the benefits of advanced
technology, including hyperspectral imaging and machine learning, to both
industrial farmers and small holders around the world”
in the year 2015, Gamaya is a Switzerland-based company focused on providing
crop-specific technology solutions for agriculture. It has advanced
capabilities in Hyperspectral Imagery Analytics, Artificial Intelligence and
Machine Learning which captures and interprets imagery to give farmers
information about the state of their fields and crops. The company operates in
Brazil and has several ongoing development activities in India, Ukraine and a
few other countries.
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