MUMBAI: Homegrown automaker Mahindra - Mahindra's farm equipment sector (FES) has picked up 11.25 per cent equity stake in Swiss agri technology firm Gamaya SA for a consideration of $4.3 million (Rs 30 crore), it announced on Friday.
The company, which participated in the series B funding round for the asset, will subscribe to 300 common shares and 30,469 series B preferred shares of Gamaya SA.
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, said Rajesh Jejurikar, president, farm equipment sector, M-M.
Gamaya is a Switzerland-based company focused on providing crop-specific technology solutions for agriculture.