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Mahindra FES acquires 11.25 pc stake in Gamaya

10/07/2019 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

Mahindra FES

Mahindra & Mahindra’s Farm Equipment Sector (FES) on June 14 entered into a strategic alliance with Switzerland-based agri technology firm Gamaya SA and announced an investment of $4.3 million for an 11.25 per cent stake, according to an ET Auto report.
 
This investment will be through a subscription to 300 common shares and 30,469 Series-B Preferred shares of Gamaya SA, the company said in a statement. 
 
ICOS Capital, VI Partners and some existing investors also participated in the CHF 7.5 million Series-B funding round. Through this investment, Mahindra will make superior farming solutions easily accessible to the global farming community, in line with the company’s Farming 3.0 strategy.
 
Mr Rajesh Jejurikar, President, Farm Equipment Sector, M&M, said, “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”.
 
“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 smallholders around the world,” said Mr Yosef Akhtman, Co-founder and CEO, Gamaya.
 
Incorporated in the year 2015, Gamaya is a Switzerland-based company focused on providing crop-specific technology solutions for agriculture. The company operates in Brazil and has several ongoing development activities in India, Ukraine and a few other countries.
 

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