Mahindra has invested $ 4.3 million in the company by purchasing 300 common shares and 30,469 Series B preferred shares of Gamaya SA.
Mahindra Farm Equipment Sector has acquired 11.25 per cent stake in the Switzerland based agro-technology firm, Gamaya SA. The Indian automaker has invested $ 4.3 million in the company by purchasing 300 common shares and 30,469 Series B preferred shares of Gamaya SA. Through this investment, Mahindra will make advanced farming solutions easily accessible to the global farming community, in line with the company's Farming 3.0 strategy.
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Speaking on the strategic partnership, Rajesh Jejurikar, President, Farm Equipment Sector Mahindra & Mahindra said, "With agriculture increasingly becoming technology-intensive, we at Mahindra are investing in future ready technologies to provide complete solutions to the global farming community. 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".
Gamaya was incorporated in 2015 and is specialises in providing crop-specific technology solutions for agriculture. It has come up with new technologies in Hyperspectral Imagery Analytics, Artificial Intelligence and Machine Learning which captures and interprets imagery to give farmers information about the state of their fields and crops. The company operates in Brazil and has several ongoing development activities in India, Ukraine and a few other countries.