IOI
These firms are improving the agritech industry by leveraging AI, data science, and machine learning to tackle numerous challenges linked to agriculture.
India is an agriculturally-driven country, with 70% of rural households still relying on agriculture as their primary source of income. With technology quickly expanding and infiltrating many areas, the agriculture industry has become the next to benefit.
Due to the technological advancements that Indian agritech businesses are bringing into the picture, farmers, who are the backbone of the agricultural industry, will no longer have to worry about climatic uncertainty, hazy soil condition knowledge, or water and insect difficulties. They would be able to make educated decisions, aided by advanced technologies, that will provide them with greater returns, improve their lifestyles, and, in turn, increase India’s agricultural output.
Here are a few examples of firms in India that are leveraging AI and analytics to develop in the agritech space:
1. Ninjacart
Founders: Ashutosh Vikram, Sharath Loganathan, Vasu Devan, Kartheeswaran KK, and Thirukumaran Nagarajan
Started in: 2015.
Ninjacart is a direct-to-consumer fresh produce delivery service that connects farmers and manufacturers with merchants. Its goal is to employ technology and data science to tackle supply chain challenges in Indian agriculture. It focuses on issues such as food waste, knowledge hurdles, inefficient distribution, cash handling, high input costs, and poor food quality. It forecasts demand with the help of market intelligence tools, machine learning approaches, and deep learning algorithms (reducing food wastage). Its RFID-enabled supply chain management tracks produce from a shop shelf to a farmer, as well as the farming data that goes with it.
2. Cropin
Founder: Krishna Kumar
Started in: 2010
It offers agribusinesses SaaS-based services using an intelligent, self-evolving technology that provides farming solutions. To develop an integrated network of stakeholders at all phases of the agricultural landscape, the firm employs technology such as big data analytics, artificial intelligence, and machine learning. It also has decision-making tools, real-time reporting, analysis, and interpretation capabilities. The firm has obtained a total of $32.6 million in investment across ten rounds, with the most recent round being $20 million in June 2021.
3. Agribolo
Founder: Arvind Godara
Started in: 2016
Farmers may get the latest mandi/weather reports, best agricultural practises, professional advise on soil health and nutrition, crop pricing, a selection of seeds, and the optimal fertiliser usage from Agribolo. It also offers Agri Mart and Agro Services, which are marketplaces for buying, renting, and selling agricultural products and services, as well as e-mandi services.
4. Fasal
Founders: Ananda Verma and Shailendra Tiwari
Started in: 2018
Fasal is an AI-powered agriculture ecosystem platform that tracks various growth conditions on the farm. It makes on-farm forecasts using data science and AI algorithms before providing the information to any device. It aids in field weather forecasting, irrigation management, pest and disease control, fertiliser, fungicide, and pesticide application management, as well as providing real-time crop, soil, and weather warnings. Over the course of four rounds of investment, Fasal has raised a total of $1.9 million. Flipkart Leap and Omnivore are its backers.
5. Aibono
Founders: Vivek Rajkumar
Started in: 2014
It’s an artificial intelligence-powered fresh food aggregator that offers a “Seed-to-Plate” platform. With the use of predictive analytics, precision farming, and just-in-time harvests, it synchronises real-time production with real-time consumption of perishable fruits and vegetables. It raised $2 million last year from Rebright Partners, Mitsui Sumitomo Insurance Venture Capital, and Lesing Artha, a Rianta Capital affiliate.
6. DeHaat
Founder: Shashank Kumar
Started in: 2012
DeHaat delivers AI-enabled technology to disrupt the supply chain and increase production efficiency, as well as services such as agricultural input distribution and financial services. It is developing an AI engine that will link the characteristics that affect agriculture using data science, agriscience, and machine learning technologies. It will deliver early warning solutions for enhanced production and prediction using predictive analytics. The firm now works in Bihar, Uttar Pradesh, Odisha, and West Bengal. By 2024, it hopes to reach 5 million farmers with its services. By 2024, it hopes to reach 5 million farmers with its services. It secured $115 million in Series D fundraising in October 2021, bringing its total capital to $164.3 million across six rounds.
Agriculture meets AI
It’s no secret that the world of agriculture is changing. Farmers are using technology to improve their businesses, including artificial intelligence. By using artificial intelligence, farmers can analyze large amounts of data and make informed decisions. AI can also help farmers work more efficiently, saving them time and money.
In this blog, we highlighted some of the top companies who are using artificial intelligence to address some of the biggest challenges in agriculture. We have seen that artificial intelligence is being used in a variety of ways to help farmers—from helping detect crop diseases to automating a dairy farm. Whatever the problem in agriculture, there is a growing number of people and companies working to find a solution.
