Drakon Innovations Pvt. Ltd, which operates livestock-focused agri-tech startup Brainwired, has raised a sum from Mumbai Angels Network.
Kochi-based Brainwired says the fundraise is part of its pre-seed round.
The company – set up in 2018 by Sreeshankar Nair and Romeo Jerard – operates an Internet of Things-based livestock health monitoring and tracking system called WeSTOCK.
The funding sum was not disclosed.
Huddle-incubated Brainwired says WeSTOCK uses an ear tag and algorithm-based technology to record the day-to-day activity of livestock.
It is also able to alert farmers about medical emergencies or pregnant animals.
Other Brainwired supporters include AgriKul, the incubator that is a programme between India Accelerator and Alfa Ventures.
Brainwired will use the capital it has raised to take its product to the market, as well as fulfil current orders and expand research and development.
“Good mentorship from Huddle and incubation during our initial stages paved a way for a scalable business model which helped us raise funds even during a crisis,” Nair said.
Deals in agri-tech
Several startups operating in the agri-tech space have raised funding in recent months.
In June, for example, New Delhi-based Concinnity Agro2o Pvt. Ltd raised funding from Mumbai Angels Network. The startup focuses on making hydroponics-based farming accessible to both small farmers and commercial institutions.
In May, poultry farming startup Eggoz raised Rs 2.5 crore (around $329,000) from a clutch of investors including Tracxn Labs, Angellist, Tri-Deep Capital and founders of LetsTransport.
Also in May, artificial intelligence-focused agri-tech startup Intello Labs Pvt. Ltd announced a Rs 45 crore ($6 million) Series A funding round led by new investor Saama Capital.
Before that, in April, dairy products company UzhavarBumi Agro Products Pvt. Ltd raised Rs 1.7 crore (around $221,686) from Native Angels Network, the investment arm of Tier-II and Tier-III focused Nativelead.
