Indian Agri-tech startup NU Genes raised over over USD 6 Million (INR 43 crores approximately) from Innovation in Food and Agriculture (IFA). Nu Genes a seed developing company engaged in hybrid seed development, production, processing and marketing.
The agricultural sector is one of the most prominent sources of livelihood in India. Climate change severely affected farmers in many states in India. Seeds cultivated by farmers need to adapt to drought conditions in certain areas. Many states in India witnessed excessive rainfall this monsoon affecting farmers produce severely. India needs to develop seeds that adapt to climate change. NU genes raising funds is welcome news for farmers in India.
IFA governed by Sathguru Catalyser Advisors is keen to aid the development of growth-oriented nutrition crop-producing seed corporations. Additionally, they strive to assist cultivators while tackling the drastic effects of climate change. Further on Chairman of Sathguru Catalyser Advisors, Krishna Kumar emphasized that the prime focus will be providing seeds that provide ample nutrition even when grown in dry and damp tropical farmlands. Further, he believed that this investment would lay a foundation for expanding into the global market.