NEW DELHI: To solve challenges in a sector that sustains the livelihoods of millions, agri-tech startups are disrupting the traditional way of doing business with the help of technology. Gauging their scope, investors are backing the sector, too, owing to its high-yield potential.
Indian farmers face several challenges ranging from finance and water to the existence of traditional farming methods which do little to help increase crop production.
To plug these gaps, several agri-tech startups have cropped up across India. AgroTech, for instance, focuses on four core areas—agriculture, water resources, AgFinTech and drone services.
“We are driven to enhance the income of farmers by providing them comprehensive, end-to-end technological solutions for all their major areas of concern,” said Akhilesh Jain, co-founder, AgroTech India. “There is immense scope in this sector in India and all it needs is the wind beneath its wings that only technology can provide.”
One of the most significant challenges plaguing the agriculture industry is the impact of climate change. With global warming pushing up temperature, crops wither from the high heat. The lack of moisture could also lead to pest infestation, adding to higher instances of crop failure and a steep drop in production.
This is where a startup like Creduce has come to the rescue of the sector. The startup is working in the space of climate change mitigation technologies consulting and global carbon credits advisory services.
Creduce provides services such as carbon credits trading, carbon footprint and neutrality, carbon offset solutions, plastic solutions, and net-zero advisory.
“Addressing the challenge of climate change is the need of the hour and our team of social entrepreneurs is dedicated to leaving the world a better place for our future generations,” said Shailendra Rao, founder at Creduce.
“We are working towards creating sustainable agricultural and alternate solutions that can lead to a low carbon economy. Our efforts for both private and public institutions aim to drive holistic change for the environment, and consequently, the planet. This change needs to be embodied in each individual doing his bit to contribute to the change, today.”
Another startup, AgroStar has built an omni-channel capability with solutions powered by an extensive amount of data, technology, and agronomy knowledge.
AgroStar’s solutions create an impact on the lives of farmers by increasing their crop yield, reducing their expenditure, and helping them grow better quality output which fetches them a better price.
Farmers in states such as Gujarat, Maharashtra, Rajasthan, Madhya Pradesh and Uttar Pradesh can avail agri solutions for the entire crop life-cycle with a call to their Agri Advisory Center or through the AgroStar Agri Doctor app, or by visiting the nearest AgroStar Retail Store for personal assistance.
Recently, AgroStar acquired INI Farms, the largest exporters of fruits like bananas and pomegranates from India, in a 100% acquisition deal. The acquisition will help the startup rapidly scale their business into the domestic and international food supply chains, as well as achieve their target of Rs 1,000 crore in FY23, a 3X jump in revenues.
The company also raised $70 million in Series D funding in December to increase reach to and expand to new markets in India. The company also launched its 2,300th retail store and aims to open over 9,000 AgroStar branded retail stores by the end of FY2023.