Sunday, August 9, 2020

Boost of Agritech startups amid COVID-19

The Takeaway:

The main income stream for several Indians living in rural areas is agriculture. Several Indian Agritech startups lend their support to the agriculture community to keep supply chains working.

Introduction

With a population estimated to rise to 1.4 billion in 2020 and the total amount of land holdings decreased over the years, the already strained agricultural sector is under threat.

The farmer group is one of the hardest victims during the lockdown. It has some severe losses in the supply chain of agricultural output and the closing of local mandis and markets and facilities. India’s primary source of revenue is agriculture, with 118.7 million farmers, responsible for more than half of its population.

 

Agritech startups in India

1. AgriBazaar

AgriBazaar was founded by Amith Agarwal, and replicated the physical mandi (marketplace) to an e-mandy aggregator model, whereby a farmer once registers and uploads his products; purchasers may place purchase orders. AgriBazaar facilitates the logistics to collect the product from the farmer’s doors and deliver it to the customer warehouse once the deal is concluded. AgriBazaar also helps small-scale purchasers from MNCs discover better prices and vendors to market their products more targeted.

 

2. NinjaCart

The Agritech startup stories with headquarters in Bengaluru was invented in July 2015 by Thirukumaran Nagarajan, AshutoshVikram, Kartheeswaran KK, Sachin Jose, and SharathLoganathan. NinjaCart provides a digital tool that allows producers to distribute fresh produce to supermarkets and restaurants directly. It helps to offer farmers better prices and to provide retailers and restaurants with a constant supply of fresh fruit and vegetables.

 

3. Crofarm

The Agritech company delivers a supply chain approach that allows it easy for industries to acquire and increase farmers’ prices by taking farmers and businesses to a shared forum. In 2016, Varun Khurana and Prashant Jain founded Gurugram-based Crofarm. The robust end-to-end supply chain network allows customers to access their best of the organic goods via the international trading model, and fresh items can be met in under 12 hours.

 

4. Waycool

Waycool provides options for the supply chain from the processing and distribution of food from farm farmers through GPS vehicles for consumers. In 2015, KarthikJayaraman and Sanjay Dasari founded this Chennai-based startup. Aspada, LightBox, Boat headset, the FMO, and InnoVen Capital have raised Waycool by $60,8 million in total so far.

 

5. Unnati

Unnati ‘s service, developed by industry veterans Ashok Prasad and Amit Sinha, provides exposure to Agri financing, technical help, product collection, farm life cycle monitoring, and availability for purchasers. A predictive agriculture model acts as a roadmap for farmers to make educated decisions on critical issues, including plant safety, weed control, fertilizer usage, maximization, and demand forecast, primarily to achieve exponential performance. The predictive farming model offers a framework for farmers.

 

6. Arya Collateral

Prasanna Rao, co-founder, and CEO of the company Arya Collateral headquartered in Delhi, is one of the few Indian startups who have hired from Internshala and demonstrated good market success during the COVID 19 pandemic.

Conclusion

Agriculture is the backbone of our country. The sector still holds a tremendous opportunity for Agritech startups, with over 70% of Indian households relying on agriculture.

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Aakriti Suri
Aakriti Suri
Aakriti Suri is a writer by passion. Born in Delhi, she was always an avid reader of all things readable which motivated her to become an avid writer. Besides writing she’s pursuing her MBA in Marketing and Finance.

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