Gamaya, a Swiss AgTech company, has raised £9.7m (12m CHF) in a Series B financing round.
It will be used to expand its intelligent crop solutions, an aspect of the business in which drones are central.
The financing round was led by Mahindra & Mahindra, a global Indian enterprise with an established footprint in agriculture via its Farm Equipment Sector.
Existing investors ICOS Capital and VI Partners also joined the round.
Yosef Akhtan, CEO of Gamaya, commented: “We strongly believe in partnering, and having a strategic investor like Mahindra & Mahindra will help open new doors and develop our ability to combine our technological expertise with the agronomic and market understanding of strategic partners. We’ve been working with Mahindra & Mahindra for a few years now and this successful work materialized in Mahindra’s decision to make an investment.”
Adding: “We are happy to see that our existing financial investors also joined the round and believe in the great potential of Gamaya.”
Speaking on the strategic partnership, Rajesh Jejurikar, president of the farm equipment sector at Mahindra & Mahindra said: “With agriculture increasingly becoming technology-intensive, we at Mahindra are investing in the 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,” he concluded.