# Carnot Technologies Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/carnot-technologies-private

- Industry: Software
- Headquarters: Mumbai, India
- Website: www.carnot.co.in
- Total disclosed funding: $0.8M
- Latest round: Series A (Mar 9, 2018)
- Investors on record: 2

## About

Carnot Technologies focuses on empowering farmers with data-driven agricultural solutions through innovative products like Simha Telematics and KrishiDiary, enhancing operational efficiency and decision-making.Founded in 2015, Carnot Technologies Private Limited is based in Mumbai, India, and specializes in agricultural technology solutions. The company was co-founded by Prathamesh Joshi, Pushkar Limaye, and Urmil Shah, with the latest funding round being a GROWTH round in March 2022, where they raised INR 140 mn from lead investor Mahindra & Mahindra Ltd. This follows a total of 7 deals to date, with a focus on empowering farmers through their technology-enhanced offerings.Carnot Technologies offers innovative solutions aimed at empowering farmers through data-driven decision-making. Their flagship products include Simha Telematics, an advanced IoT device retrofitted onto tractors or harvesters, and KrishiDiary, a digital farm diary application. These products cater primarily to small rental tractor entrepreneurs, individual farmers, and enterprises in the agricultural sector, providing critical insights into operational efficiency and agronomy advice to support over 4 million rental tractor operators in India.In 2023, Carnot Technologies reported a revenue of INR 2,930,838.40 and an EBITDA of INR 439,946. The company generates revenue from both B2B and direct-to-consumer sales primarily through subscription-based services and one-time purchases of their IoT devices, enabling clients to enhance their operational efficiency and increase returns on investment.Carnot Technologies plans to leverage its recent GROWTH funding of INR 140 mn, obtained through Mahindra & Mahindra Ltd, to enhance its information technology solutions further. With strategic initiatives aimed at expanding into new geographical regions, particularly within India's diverse agricultural markets, the company aims to release new products that cater to emerging farmer needs. The recent deal, which closed on March 16, 2022, positions Carnot Technologies to develop innovative solutions that will support farmers in optimizing operations.

## Funding rounds

- Series A, Mar 9, 2018, $0.8M — Mahindra & Mahindra Ltd., Whiteboard Venture Partners

## Investors

- Mahindra & Mahindra Ltd. — Series A
- Whiteboard Venture Partners (https://capitalatlas.ai/funds/whiteboard-venture-partners) — Series A