Schroder UK Public Private backs Indian agricultural technology app

(Alliance News) - Schroder UK Public Private Trust PLC announced on Thursday it will invest in an Indian agricultural technology start-up.

The investment said it will invest USD8.0 million in AgroStar, an agri-tech start-up in India. Schroder UK said the investment is its first transaction in Asia.

This investment forms part of a USD25.0 million total investment by Schroders Capital during the start-up's financing round.

AgroStar uses technology, data and agronomy knowledge to help Indian farmers tackle different problems via an app, which already has 7.5 million users.

Schroder UK said the AgroStar investment is in line with its sustainable developlment goals to "end hunger, achieve food security and improved nutrition and promote sustainable agriculture."

Schroder UK shares were down 3.8% at 12.32 pence in London on Thursday afternoon.

By Sabrina Penty; Alliance News reporter

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