Mumbai: Homegrown automaker Mahindra - Mahindra's farm equipment sector (FES) has picked up a 11.25% stake in Swiss agri technology firm Gamaya SA in line with its strategy of making superior farming solutions easily accessible to the global farming community.
The company will pay 4.3 million dollars ( Rs 30 crore) to subscribe 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 Series B funding round.
"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," Rajesh Jejurikar, president of farm equipment sector at M-M said in a release.
Gamaya is a Switzerland-based company focused on providing crop-specific technology solutions for agriculture.
Agriculture is a complex industry that is undergoing rapid transformation towards efficiency and sustainability.
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," said Yosef Akhtman, CEO of Gamaya.