Mitti Labs raised $9.5M in Series A from Aramco Ventures, others
The company said that it will expand its geographical footprint in India and launch greenfield projects in the Philippines and Indonesia.
Mitti Labs, a deeptech startup, has raised $9.5 million in Series A funding. The investment round was led by Aramco Ventures, with additional participation from Lightspeed India, Godrej Industries Group, Cisco Foundation, Francis Family Fund, and Volta Circle. This brings the company's total funding to $12.5 million. The startup plans to expand its presence in India and launch greenfield projects in the Philippines and Indonesia.
Mitti Labs is dedicated to combating methane emissions from rice farming in Asia. Their GeoAI platform, which integrates high-resolution satellite data with ground truth and physical models, generates digital twins of rice fields. This allows for the monitoring of farming practices and quantification of methane reductions at the individual plot level.
The company's founders, Devdut Dalal, Xavier Laguarta, and Nathan Torbick, focus on reducing emissions while helping smallholder farmers earn extra income through carbon credits.
The startup's approach involves working with Indian rice farmers to employ Alternate Wetting and Drying (AWD), a technique aimed at reducing water usage and methane emissions. Rice is a significant contributor to methane emissions and a major water-intensive crop. Scaling their technology and operational model, Mitti Labs aims to transform rice farming, reduce emissions, and enhance water efficiency. This will ultimately benefit 150 million smallholder farmers in Asia.
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