Villgro Incubatee Raises VC Investment
Friday, August 12, 2011
Villgro Innovations Foundation is pleased to announce that Skymet, a company incubated by Villgro, has successfully raised a significant round of investment from Omnivore Capital for 33% of it’s equity. Jatin Singh founded and promotes Skymet (http://www.skymet.net)
Skymet is at the cutting edge of weather forecasting in the subcontinent; they cater to the weather information needs of farmers, energy providers and print and visual media platforms across the country from their offices in Delhi. Skymet’s partnerships with leading mobile data providers have resulted in millions of farmers now having on-demand access to real-time weather forecasts that are both highly accurate and localized.
Villgro first became acquainted with Skymet’s work in May of 2010. Skymet’s market-driven approach to providing millions of rural users with much needed weather forecast information in a manner that was both scalable and and profitable resonated with Villgro’s mandate of supporting and nurturing Social Enterprise. Villgro provided Skymet with patient seed-funding to fine tune and optimize their weather forecasting methods and covered their associated human resource costs.
Villgro will continue to support Skymet into the future and remains confident that it will emerge as the nations most prominent provider of weather and agricultural forecasts.
To refer any enterprises you may know who, like Skymet, can avail of our incubation services please refer them to Wantrapreneur, our business plan competition at http://unconvention.co.in/wantrapreneur/