M&A
Mahindra Group increases stake in agritech startup Carnot to 69%
Mahindra Group has increased its stake in agri-tech startup Carnot Technologies to around 69%. Carnot will use the funding to continue developing its technology and expand its team over the next year. Carnot Technologies was founded by IIT Bombay alumni developing the leading agriculture IoT platform Simha (rebranded to Krish-e Rental) which now has over 25,000 tractors, harvesters and sprayers working on over 3 million acres of land each season. The platform is protected by 5 patents.
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