Piatrika Biosystems raises $1.2 million in seed funding from Ankur Capital
India/UK-based Agri-Genomics company, Piatrika Biosystems has raised $1.2 million in a seed round led by Ankur Capital. The company aims to bring sustainable seeds and agri- chemicals to market faster and cheaper. The investment will be used to build a strong product development team for more profound research, to accelerate the productionising and commercialization of MVP.
According to the company, the world is currently experiencing issues around the global food supply, caused by an imbalance in the supply chain. In this reality, the need for sustainable agriculture precisely, coupled with an aggressive growth strategy has necessitated a change in processes management.
Founded in 2019 by Vasudev Kumanduri and Phani Yarlagadda, Piatrika Biosystems claims that it is also building a new innovative cloud-based enterprise Platform-As-A-Service (PAAS) for agri-genomic discoveries, plant breeding decision support, program designing, and monitoring.
Vasudev Kumanduri, Co-Founder & CEO, Piatrika Biosystems, stated, “There remains a significant disconnect between state of the art research and its practical implementation. This means that while there has been ground-breaking research in recent years in this area, the important knowledge has not been applied in a timely practical manner in agriculture. There is an urgent need to translate these research advances into practical benefit”.
Phani Yarlagadda, Co-Founder & COO at Piatrika Biosystems, commented, “Weather, war, and viruses have disrupted global food systems. This has put immense pressure to produce more food using less resources. Seed companies and agri-Research institutes are looking for affordable solutions that can leverage the advancements in technology to optimize the process involved in taking a seed from lab to farmer.
Ritu Verma, Partner, Ankur Capital commented, “With the challenges that agriculture, innovation in the seed sector is critical.” Piatrika Biosystems is incubated out of NIAB(Cambridge, UK) & ICRISAT(Hyderabad, India) and is working with researchers, seed companies & research institutes. In June 2022, Piatrika Biosystems was selected as a case study by Food and Agriculture Organization (FAO) of the United Nations report and featured.