Much credit goes to world food crisis in 2007-08 that has led global economies to reinforce efficiency in agriculture. Through technology, commitment is being enabled at multiple value points – favourable policies, transparency in market information, leaner supply chain, single window access to raw materials and affordable machinery, and access to credit. Barring policies, which is pure government play, agri-tech start-ups and private investors are ploughing hard for harvesting better growth ahead.
On $313 million raised by 53 agri-tech start-ups in India in 2016 (as per online investment platform for agri-food technologies - AgFunder), one might laugh off at it when seen through the e-commerce lens. But since agri-tech space is nascent globally, India became the second highest investment destination after the US with those 53 deals last year.
DIGGING DEEPER
The technology solutions by Indian agritech start-ups are largely focusing on four areas. First, helping farmers with a) Right information for e.g., about the crop, weather, soil, market prices, etc., using algorithms, data analytics and image processing techniques that has companies like AgroStar and Airwood; and b) Devices for e.g., irrigation control system etc., having startups like Flybird. Second, selling agri-products through online marketplace where again we have AgroStar and Kisan Point. Shardul Sheth, Co-founder, AgroStar, says, “E-commerce is just one part of our solution. Every information related to growing crops, whether it is the prices at the mandis, weather updates, what products to use, how to improve yield, how to conserve water, crop infection, etc., is available for farmers.” Started in 2010 as a manufacturer of organic fertilizers, AgroStar pivoted to the current model in 2013. Currently 200 sellers sell agri inputs on AgroStar and delivers surprisingly via India Post, unlike other marketplaces.
“India Post has been amazingly efficient against the popular perception of it. No other logistics company can deliver, let’s say 50 kms away from a taluka in a tier III district within five days. They can deliver to any valid pin code across the country,” explains Sheth. AgroStar has one centralized warehouse each in Pune, Ahmedabad and Jaipur and is looking to become profitable within next two years.
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