The rapidly expanding agritech industry has a lot of potential to help Indian agriculture and eventually increase farmer incomes. India currently has 450 Agritech startups, and NASSCOM estimates that this number will increase by 25% annually. AgriTech startups have become a ray of hope in Indian agriculture, as well as a gateway to innovation in this sector, in this era of the unicorn business ecosystem. AgriTech startups are developing relevant and innovative solutions to a variety of problems encountered throughout the agricultural value chain. Let’s take a look at the startups that are changing the Indian agriculture landscape.
AgNext – Established in 2016 by Mr Taranjeet Singh Bhamra, CEO & Founder, AgNext aims to facilitate trust and transparency in food value chains. By using deep-tech solutions in the agriculture sector to solve persisting legacy issues, AgNext aims to facilitate trust and transparency in food value chains. Working in Deep technology, AgNext under Taranjeet’s leadership has pioneered computer vision, spectral and IoT based AI technologies, which today are employed at multiple transaction points enabling transparent and profitable trade in agriculture and food value chains.
Unnati – Unnati, conceptualized and co-founded by Mr Amit Sinha & Mr Ashok Prasad, is a fintech based Agri platform which aims to minimize the risks in farming and ensure much-needed transparency in the farming business. Unnati’s founders recognised the difficulties farmers experience as a result of farming’s lack of predictability and regular access to production inputs and information. Digital technology has the potential to play a key role and deliver immediate answers in this situation. Their objective to connect farmers to a single digital platform that supports farm entrepreneurship has been their driving force, resulting in the development of a complete ecosystem for farm entrepreneurs. From Unnati financial services to crop-specific consultancy, the brand works with farmers at every stage of the farming life cycle to ensure a sustainable future.
Agribazaar – Founded in 2016, the idea behind AgriBazaar is to deliver tech-enabled future-ready solutions to the farming community in a frictionless manner and revolutionize the way post-harvest management services are processed across the country. It is this vision that empowered AgriBazaar to facilitate INR 9000 crore (GMV) worth of transactions since its inception, making it one of India’s largest online agri-trading marketplace.
Aquaconnect – Founded by Rajamanohar Somasundaram, Aquaconnect is a full-stack aquaculture platform with embedded fintech that uses Satellite remote sensing and Artificial Intelligence to enable aquaculture farmers, retailers, and seafood buyers increase access to formal credit, farm inputs and post-harvest markets. Their unique tech solutions supercharge the entire aquaculture value chain and help build predictability and transparency into the value chain thereby making it efficient. Aquaconnect is funded by HATCH-Norway, India’s pioneer Agritech VC Omnivore, Japan’s Rebright Partners, Flourish ventures, AgFunder, 6G Capital, Trifecta Capital and Lok Capital.
