Russian agritech startup IntTerra has agreed with local businessman Nikita Shashkin an investment plan of “up to $10 million” in several capital injections. The deal, agreed in early 2020, has just been revealed by the business daily Vedomosti, which cites exchanges with company founders Vitaly Buzu and Alexander Mikhailov.
Very few Russian agritech startups have raised such amounts thus far, especially coming from an individual investor.
Registered in 2016, IntTerra presents itself as “a team of experts in agronomy, precision agriculture and IT that creates decision support tools for companies in the agriculture industry.”
Reaching “an unbeatable level of analytics,” its platform integrates weather data, satellite data, agricultural machinery data, crops agrotechnologies as well as “forecast of optimal windows for the application of crop protection” tailored to customers’ individual needs.
Thus, IntTerra’s solutions “enable a much earlier identification of potential issues in the field, drive timely execution of the agricultural operations and their quality control.”
These solutions are intended for agronomists and farm managers as well as consultants, banks, insurance companies, traders and machinery producers involved in the industry. InTerra’s platform manages data from some 4 million hectares in Russia, reports Vedomosti