Nabventures, a venture growth backed by NABARD (National Bank for Agriculture and Rural Development), has made an investment of 10 crore in Bengaluru-based agri-tech startup Satyukt Analytics. Satyukt deploys satellite technology and machine learning to provide SaaS-based advisory services to farmers. According to the startup, the investment will enable Satyukt to accelerate the development of its Sat2farm app that empowers farmers with data-driven insights, Sat2credit app that helps BFSI players to evaluate a farm’s creditworthiness and credit risk and introduce new products such as Sat4agri for agri-input companies and Sat4risk for agri-insurers. Sat2credit provides in-depth farm-level analysis and insights enabling banks and financial institutions to make customised digital lending decisions. Satyukt was founded in 2018 by Sat Kumar, a PhD degree holder from the Indian Institute of Science, Bangalore. “Satyukt is a global SaaS in the making with a remarkable satellite data analytics and remote sensing team having advanced AI/ML capabilities. We are happy to support them in their endeavour towards transforming India’s agrarian sector by providing data-backed solutions for financing farmers and improving land productivity,” said Rajesh Ranjan, CEO of Nabventures said. Sat Kumar, CEO of Satyukt, commented, “Nabventures’ investment strengthens our resolve to leverage cutting-edge technologies to enable our stakeholders from India’s to access and utilise accurate, real-time data that can drive their decision-making processes and positively impact their operations.” In 2020, it raised $500,000 in seed funding from Nabventures and Social Alpha.