I-Venture @ ISB
Robotics startup XMachines announced today that it has secured seed funding from Dare Ventures, the venture capital arm of Coromandel International Limited, part of the Murugappa Group. This marks the first big round of funding for XMachines which was earlier funded by IIITH and DLabs at the Indian School of Business (ISB). XMachines is a Robotics company pioneering the development of AI-based Robots catered to the needs of farmers.
With a mission of course correcting current agricultural practices towards sustainability, XMachines has pioneered the development of compact autonomous robots capable of an array of agricultural tasks, such as seeding, weeding, spraying, and planting. These Robots can be conveniently used in small farms, enhance cultivation efficiency and reduce chemical usage through data-driven agricultural practices. XMachines’ robots are also going to play a huge role in addressing the labour shortage challenges prevalent in the agricultural sector. XMachines is poised to contribute to the advancement of the Indian agricultural sector, while at the same time making farming profitable and ecologically sustainable.
Dare Ventures has been investing in early and growth-stage startups that provide technology-driven solutions to complex and long-term problems in the agriculture and allied sectors. This investment in XMachines aligns with Dare Ventures’ vision of investing in innovative startups that can bring about a positive change in the agriculture sector.
Commenting on the investment Trivikram Kumar Dogga, Founder and CEO of XMachines said, “Our mission has always been to drive agriculture towards sustainable practices for a healthy planet & healthy people. We are integrating automation with agriculture making it fun, convenient and profitable for today & tomorrows farmers. We foresee a future, where there is a Robot in every Farm, agriculture happens in an intelligent & data-driven manner in harmony with climate change & the growing needs of the population. The development of Electric AI based Robots in Agriculture is a step in that direction. With this investment and partnership with Coromandel, we are confident that we are well positioned to achieve the dream of placing a Robot in every Indian farm.”
XMachines is an Indian Robotics & AI company headquartered in Hyderabad, India which designs and manufactures innovative products infused with Robotics & AI technologies for consumer and enterprise markets. XMachines was founded in 2017 to bridge the technology gap that exists in Indian agriculture and has pioneered the development of Multipurpose AI based Robots for Precision Agriculture. The company later ventured into developing Robots for various other industries.
XMachines currently manufactures AI based Robots for Precision Agriculture, Autonomous Mobile Robots for automating material handling operations in manufacturing & warehouse facilities and Mobile Robot Platforms for Managing Solar power plants. Since 2022, XMachines has expanded into international markets and begun exporting its products to Europe and other countries.
About Dare Ventures
Dare Ventures Limited is a corporate venture capital arm of Coromandel International Limited with a focus on leading investments in early to growth stage start-up companies engaged in providing technology led solutions for complex and long-term problems in the agriculture and allied sectors. Coromandel International Limited, part of Murugappa Group, is amongst India’s pioneers and leading Agri solutions provider, offering diverse products and services covering crop nutrition, crop protection, retail, and other allied advisory services to millions of farmers across the country.
Coromandel International Limited is amongst India’s pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain. The Company is the leading marketer of Organic fertilizer in India and operates a network of around 750 rural retail outlets across Andhra Pradesh, Telangana, and Karnataka. Through these Retail outlets, the Company offers farming services including crop advisory, soil testing and farm mechanization to around 3 million farmers. It is recognized by international organizations like UNDP and been voted as one of the ten greenest companies in India. Coromandel is a part of the INR 41,713 Crores of the Murugappa Group.