5 Agritech companies in India to watch out for in 2023
The agriculture industry is gradually transforming into the next high-tech sector. Technologies like blockchain, artificial intelligence, and computer vision are being leveraged to improve crop yields, supply chains, and sustainability. Due to its potential, total investments in the agtech sector for 2021 reached $10.5 billion. The global agricultural industry is ever-growing, with new seeds of innovation. From increased global food consumption to the climate crisis, there are numerous reasons why it is so essential for the world of agriculture to keep ahead of the climate crisis. Here is the list of the agritech startups to look out for 2023.
- 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.
- Fasal – Fasal started with a simple idea – Removing guesswork from farming. 2018 was where Fasal started the journey with just four team members and now we are on our way to impact Indian Agriculture in a big way! Since its inception, Fasal has helped its numerous farmers reduce cost of cultivation and increased quality and yield, through our AI powered platform for horticulture, delivering farm specific, crop specific, crop-stage specific, actionable advisory. We propagate sustainable agriculture and our solution impacts the social, economical and environmental facets, hence making a big impact on the UN’s Sustainable Development Goals.
