These Agri tech Startups Worth Millions
These Agri tech Startups Worth Millions. Featuring FarmCrowdy, Most Unique Agri tech!
“The welfare of the farmers is vital to that of the whole country.”
You should raise a question, why urban cities and cultivated people only get a higher living style and more ways to earn money from the innovation? Why rural areas and some non-scholarly people don’t worth to enjoy the sweet fruits of innovation?
Have you hit hard? By just reading these two lines? If yes, then let me tell you something. That time has now become past where farmers were called with no respect. The demand for food is rising like never before thanks to expansion in the world’s population. Government and few entrepreneurs have understood that agriculture is the industry where the most number of innovation is needed to feed these much of people. Thus, in recent years, we have seen so many successful agriculture startups which make farming smart! According to techcrunch, in 2017, more than $1.5 billion was invested in Agri tech startups by more than 300 distinct investors. Brazil, USA, Israel, and India are the most favored countries for the Agri tech startups. In 2018, Israel reported 460 Agri tech startups and Brazil has seen 338 Agri tech startups. Yes, these numbers are far behind than the number of startups in the industry like finance and transportation. But we don’t have to miscalculate the challenges of Agri tech startups. Let’s highlight some of the most crucial challenges you have to overcome for your next Agri tech startup!
Challenges in Agri tech Startups?
First and most important challenge Agri tech startups have to consider is the target audience. Unlike other industry, people using Agri tech is non-techy. They like the way they have been doing farming. So, to convince them to use the digital services of the Agri tech is not really easy for any startup.
Another challenge Agri tech startup is facing is the challenge related to Geography bounty. For an E-scooter rental startup, it is easy to attract more groups of the users as they are sharing the same kind of geological bounties which is an urban city. But for an Agri tech startup, it is a real challenge to reach geologically distributed farmers.
But why still successful?
But thanks to government policies and feeding need of our world, Agri tech startups are still the most successful startups. According to a Deutsch report of 2017, the success rate of the Agri tech startups has increased from 47% to 66% between 2005 and 2011.
Let’s quickly see one of the most unique and trending Agri tech startup.
- An insight into the company
FarmCrowdy is Nigerian startup, HQ in Lagos. The core purpose of this Agri tech startup is to empower poor farmers by connecting them with the farm sponsors who sponsor a farm, from where farmers get earning. Sponsors get a return at the end of every farming cycle. FarmCrowdy has started by CEO Onyeka Akumah and his team of the other three people. They have also launched a mobile app in November 2016. FarmCrowdy’ website claims that currently, there are 16,000+ acres of land is available for sponsorship and till now, more than 35000 farms have been sponsored. From these numbers, more than 10000 farmers get a chance of better-earning opportunity. In the company’s introduction video, the CEO says that their plan for the next five year is to empower as much as 50000 farmers.
- How this all started?
During his early age, CEO Onyeka Akumah was running a poultry farm. He noticed that a lot of Nigerian people want to involve in farming, but they don’t have the skill to do farming in such a way that they can earn well. Additionally, he also noticed that a lot of people of Nigeria acquire land, but due to the economic barrier, they are not able to do farming on it. Thus, Onyeka Akumah decided to solve this problem by making a platform which connects the rich people who are interested in the farming, but don’t want to do farming and poor people who are not rich, but want to do farming!
- How does it work?
Let’s understand it by dividing it between the number of users and the role of them. So, basically, there are main three key stakeholders in the business process of the FarmCrowdy. One is FarmCrowdy itself, another is sponsors and the third one is farmers.
FarmCrowdy identifies the location and reaches to the Farmer association or Community leaders. As soon as they close the deal of land, they give the input of seed varieties and training to the farmers with tools. Now, a sponsor is someone who checks all farms details and takes the sponsorship of the farm. Once a farm is sponsored, farmers start doing farming, in return, FarmCrowdy pays them. Sponsors can track all farming activities and can also request to visit the farm. At the end of every farming cycle, FarmCrowdy pays to the sponsors.
Wait, We are not done yet. There are many more interesting Agri tech startups which are changing the agricultural industry.
- Insight into the company
Ninjacart is India based startup which aims to simplified the supply change process. Developing countries like India where farmers have already been facing financial problems, long supply chain process which has so many third parties are involved, is making it more difficult for farmers to earn a good profit of their hard work.
- How does it beneficial?
Thus, Ninjacart comes with a platform where farmers can connect with the retailer directly. By eliminating third parties from the supply chain, the farmers earn good money on their vegetables and fruits. According to the Ninjacart website, farmers can generate more than 20% of revenue by using this platform. Additionally, retailers are also getting the product at low prices and thanks to Ninjacart’s delivery option, retailers don’t have to worry about the transportation of the product from the farm to stores.
- Facts and Achievement
Ninjacart gets every day 300 tonnes of vegetables and fruits and it takes only 12 hours to transfer it from farm to stores. Apart from this, Ninjacart is awarded most innovative startup of Indie by Inc42 media in Nov 2018.
Suppose you are an owner of too many farms. All of your farms are being utilized for farming by workers who are hired by you. Now, assume the situation where you have to manage the working hours of the worker, production report, pesticide reporting, financial activities and field notes of all your farms manually. Isn’t it very hard? Your answer would be yes. But by using AM3 software of the Agcode, it all seems like a piece of cake as the software is combined with business intelligence. They have launched an app too.
By using services of the Agcode, it is easy to perform tasks like field inspection, Payroll, Harvest and scale, mapping, grower management, budget, pick code, contractor tracking, pest control, billing, equipment tracking.
- Farm Again
Farm again is the another India based agri tech startup started by Ben and Raj. The prior goal of their startup was to convert as many as land into organic land. Till now, they have converted over 2,500 acres of land into organic land which eventually helps farmers to earn more profit.
Farm again is the 30 members company with a revenue of $1 million. Till now, over 1000 farmers have signed up and the company is aiming to reach this number to 13000 by next year.
Recently Farm again has launched IOT devices such as CropSense, WaterSense, NutriSense, and ClimateSense with a mobile app. These are the devices farmers have to install at the farms. Whatever the data these devices collect can be seen by farmer on the mobile app of the Farm again. This is the revolutionary steps in the Agri tech which force us to think what would be the future of the agricultural!
- Gold Farm
Many times due to lack of proper machinery and hard physical work, farmers become unable to generate more revenue. Thus they need the latest machinery for farming. But again, buying is not the only choice of farmers as they are not that much of economical fit. Gold Farm understands this compulsion of the farmers so well that they have created a platform where farmers can rent the farming equipment like solar water pump and tractors at a very affordable price.
Few cyberpunks and innovative people of our world should have to give some sort of digital platform to the farmers to make sure they can work at the maximum capacity. Because by seeing the current need of the food and expansion of the popularity, it is safe to predict that by the year 2050, feeding demand of our world will increase by 59% to 98% (source: HBR). To satisfy these much of magnification, it is the alarm call for governments and entrepreneurs to motivate more and more farmers to use some of the industry defined technologies which have been applied precisely on traditional agriculture-related techniques to make it more efficient and productive.
About the author:
Vishal Virani is a Founder and CEO of Coruscate Solutions, a leading mobile app development company. He enjoys writing about the vital role of mobile apps for different industries, custom web development, and the latest technology trends.