Agriculture, along with allied sectors is the primary source of income for a majority of Indian’s living in rural areas. As the population of the country is expected to grow to 1.4 billion by 2020, and the average size of land holdings decreasing over the years, creating pressure on the already stressed agricultural industry.
There is a huge opportunity in the agriculture and allied sector that is expected to touch ₹17.67 trillion ($274 billion) in FY18. As the majority of Indian farmers are dependent on traditional and inefficient farming techniques, agritech startups are leveraging technology to empower the farmers to increase their earnings.
Here is a list of agritech startups helping the Indian agricultural industry, through technology, to overcome multiple hurdles:
- Agritech startups providing a technology-led marketplace for farmers
- Agritech startups using technology to boost productivity for farmers
Agritech startups providing a technology-led marketplace for farmers
NinjaCart provides an agri-marketing platform that lets the farmers sell their fresh produce directly to retailers, restaurants. It helps provide better prices for the farmers and a constant supply of fresh fruits and vegetables for the retailers and restaurants. This agritech startup was founded by Ashutosh Vikram, Kartheeswaran K K, Sachin Jose, Sharath Loganathan, along with Thirukumaran Nagarajan in July 2015, with its headquarter in Bengaluru.
Last month, NinjaCart raised ₹33.7 crores ($4.9 million) in series A round led by Accel Partners and Infosys co-founder Nandan Nilekani‘s NRJN Trust.
This agritech startup provides a supply chain solution, by bringing farmers and businesses on a common platform, making it easier for businesses to procure and fetching higher prices for the farmers. Gurugram-based Crofarm was founded by Varun Khurana and Prashant Jain in 2016.
Overall, the startup has raised around ₹10 crores in its seed funding round that saw participation from a clutch of marquee investors like Rajan Anandan, Managing Director of Google India, LetsVenture, Pravega Ventures, among others.
Waycool provides supply chain solutions from procuring food products from farmers, moving the products in GPS-enabled trucks, to delivering the product to clients. This Chennai-based startup was founded by Karthik Jayaraman and Sanjay Dasari in 2015.
The startup last raised $2.7 million from Aspada in March 2017.
Gurugram-based AgroWave was founded by IIT Delhi alumnus Anu Meena in 2017. This startup aims to transform farmers lives by optimising the supply chain solution by incorporating technology. It provides complete logistics support to farmers by connecting them with various businesses and help deliver their products to those customers on time.
FarmLink provides end-to-end supply chain for fruits and vegetable by leveraging technology to reduce food wastage. It was founded by Akshaya Kamath and Sreeram Chellappa in 2014, with its headquarter in Mumbai.
It had last raised $3 million in seed funding from Pioneering Ventures and Syngenta in November 2017.
Bengaluru-based agritech startup KrishiHub was founded by Bhoopendra Kumar and Jyotiska Khasnabish in 2016. It provides an AI-powered, data-driven supply chain management platform to reduce wastage and enable farmers to fetch better prices, along with ensuring a daily doorstep delivery of fresh vegetables to its clients.
The startup raised an undisclosed amount of funds IIT Kanpur INVENT accelerator and Villgro Innovation Fund in November 2017.
The startup provides fresh produce supply chain solutions by ensuring the quality of fruits and vegetables as per its clients through a carefully tailored packaging process, along with providing competitive prices for farmers. Farm Taaza was founded by Kumar Ramachandran, along with other Silicon Valley veterans in 2015, with its headquarter in Bengaluru.
This agritech startup last raised $8 million in series A round led by Epsilon Venture Partners, along with IL&FS Investment Managers’ Tara India Fund IV in October 2017.
Our Food provides a platform for farmers to add value to their produce by enabling bulk buyers to procure quality vegetables, fruits, grains, among other products. It reduces transportation and labour costs by pre-processing at the farm level and ensures reliable supply through its network of warehouses, collection centres, and distribution centres. It was founded by Bala Reddy, Raghu Prasad Mulukoju, and Sashikanth Menchu with its headquarter in Hyderabad.
The startup recently raised ₹1.4 crores ($200,000) in bridge funding round led by US-based 3Lines Ventures.
Gramco Infratech Pvt Ltd
This agritech startup provides a comprehensive solution for farmers from sowing to warehousing through its platform and network of infrastructure. It aims to help farmers add value and realize better prices for their produce. Indore-based Gramco Infratech was founded by Raman Saluja in 2009.
Gramco Infratech had last raised $2.3 million from Samridhi Fund in August 2013.
Globally Optimised Bulk Agri Supply Organisation (Gobasco) uses real-time data analysis of data streams from multiple sources coupled with AI-optimised automated pipelines to enhance the efficiency of the agriculture supply chain. It was founded by Abhishek Sharma, along with Pranshu Aditya and Vedant Katiyar in 2017, with its headquarter in New Delhi.
The startup had last raised an undisclosed amount of seed funding led by Matrix Partners India in November 2017.
Agritech startups using technology to boost productivity for farmers
Pune-based AgroStar offers a one-stop solution for farmers to boost their productivity and incomes by providing agricultural products such as high-quality seeds, fertilizers, crops, among many other products, coupled with farming advice. It was founded by Sitanshu Sheth in 2008.
This agritech startup last secured $10 million in series B round led by Accel Partners, along with participation from IDG Ventures and Aavishkaar Venture Capital in March 2017.
Mumbai-based RML AgTech provides smart farming solutions using data analysis to help the farmers from growing to selling their products. It was founded by Amit Mehra in 2007.
The startup had last raised $4 million in series B round led by IvyCap Ventures in January 2017.
The startup provides an intelligent crop management platform that helps the farmers in irrigation management, yield prediction, advice on fertilizers, along with other crop-specific advice to increase production in a simple yet sophisticated way. Cambridge and Pune-based KisanHub was founded by Sachin Shende and Giles Barker in 2012.
KisanHub last raised $1.8 million in seed funding led by Notion, IQ Capital Partners, and Calibrate Management in January 2018.
Bengaluru-based Intello Labs uses deep learning and image processing to detect crop diseases or pest infestation in the crops. Its smart platform also gives recommendations to the farmers on how to cure and prevent the disease or infestation. It was founded by Milan Sharma in 2016.
Bengaluru-based CropIn provides an intelligent, intuitive and self-evolving system that helps farmers in decision making to improve productivity and grow their business. The system is enabled with live reporting, analysis, interpretation, and insight from the farm in real-time to facilitate quick decision making for farmers. The startup was founded by Krishna Kumar in 2010.
This agritech startup last raised an undisclosed amount of funds in a round led by BEENEXT, along with participation from Ankur Capital in September 2017.
Chennai-based Aibono uses real-time data science and artificial intelligence to increase farm yields for farmers by monitoring farm growth, crop disease, weather, soil, among other parameters. The startup was founded by Vivek Rajkumar in 2014.
It raised an undisclosed amount of seed funding from 3one4 Capital and StartupXseed Ventures in May 2016.
EM3 Agri Services
EM3 Agri Services provides end-to-end on-demand farming solutions to farmers through its SAMADHAN platform. The startup helps in increasing agricultural productivity by providing farming machines and other tools, along with technology services on a pay-for-use basis. It was founded by Adwitya Mal, along with his father Rohtash Mal in 2013, with its headquarter in Noida.
The startup raised $10 million in series B round led by Global Innovation Fund, along with participation from Soros Economic Development Fund, and Aspada in August 2017.
It provides an intelligent platform to monitor and analyse various aspects of the farm in order to provide smart solutions for irrigation management, resource optimization, increasing yield and quality of the yield. The farmer can keep track of all the aspects of his farm using the Fasal‘s cloud platform from anywhere and on any device. Fasal was founded by Ananda Verma and Shailendra Tiwari in January 2018, with its headquarter in Bengaluru.
Fasal raised $120,000 in seed funding from Zeroth, Mind Fund, and Artesian VC in March 2018.
This agritech startup provides a platform for farmers to book farming equipment in order to boost productivity and efficiency. Gold Farm was founded by Abhilash Thirupathy in 2012. The startup aims to provide a comprehensive platform for all farming products and services.
Gold Farm last raised $2 million in seed funding from Mahindra Rise and Infuse Ventures in October 2017.
The startup provides a one-stop solution for all kinds of inputs for farmers. It provides various products such as crop protection, crop nutrition, seed, along with other agriculture hardware at their doorsteps. Along with products, it also provides advice on best farming practices to help increase their productivity and incomes in a sustainable manner. Indore-based Gramophone was founded by Ashish Singh, Harshit Gupta, Nishant Mahatre, and Tauseef Khan in 2016.
The startup last raised $1 million in seed funding from Info Edge in March 2018.
As the government aims to double the incomes of the farmers in the country from around ₹96,700 ($1500) in 2015-16 to around ₹2,19,000 ($3,400) by 2022-23, there is a huge potential for the agritech startups to leverage the opportunity in order to help the farmers and capture this unorganised sector.