Source | Entrepreneur : By Rahul R
With Industry 4.0 promising to introduce all things smart for India, next-gen technology is expected to drive key sectors of the economy. One of these areas, analysed by experts, is agriculture. This trend is evident when we consider the number of Agritech startups that have mushroomed over the last five years.
Most of these agritech startups are working on models driven by next-gen smart technological aspects viz Artificial Intelligence (AI), the Internet of Things (IoT), Big Data, Data Analytics, Predictive Learning, Deep Learning, and more. With investors having sensed potential in the agricultural sector, and with funds over $20 million estimated to have been invested in agritech ventures in India, it is only safe to assume that these startups would be the next-gen drivers of smart entrepreneurship.
Nonetheless, agriculture in India requires a shot in the arm taking into consideration farmer suicides reported over the last five years and inability of various state governments to craft robust policies to encourage citizens to actively take up agriculture as a profession. However, with a sprout in the number of startups offering technology-backed solutions, farming and the way agriculture is perceived should change for the better.
In synchronization with the above, Entrepreneur India spoke to a multitude of technologists developing smart agriculture solutions and investors actively investing in agritech startups to compile the list of agritech startups whose solutions are estimated to drive a technological change, along with analysing their fund-raising patterns. Check out this list below, these could also potentially catch next-gen investors’ eyes soon:
Agricx: An early stage technology-driven agritech startup founded in 2016 by Saurabh Kumar and Ritesh Dhoot, Agricx has proprietary technology harnessing AI to determine the standard of agricultural produce.
Agricx has been grabbing eyeballs for its quality assessment of potato. The technology used by the startup even certifies crops, and it claims to have certified over two million kilograms of potato. The venture has also inked deals with known cold storage units in India enabling these to certify and list only ‘genuine’ potatoes. Agricx also grade potatoes and works with food storage units, warehouses who have reportedly tested the AI-backed application.