What is Agritech?
Agritech in simple terms- is the use of technology in agriculture to improve the process of growth and farming. Technologies like AI, IoT, Drones and satellites, GPS tracking saves farmers time and money. Agriculture contributes nearly 20.2% of GDP. Farmers have adopted the concept of automation.
Industry Segments - Farming as a service Faas allows farmers and stakeholders to make data-driven decisions to improve efficiency and productivity -
Financial Services Banking institutions provide various financial services to farmers like 'Kisan credit card', agriculture loans, debt swapping schemes. -
Farm mechanization and automation Improving agriculture yield by using automated tools and replacing human labor forces in irrigation, fertilization, planting, seedlings. -
Advisory Farming-related queries can be resolved using an online information system. -
Precision agriculture and farm management Use of different technologies like IoT, AI, sensors to increase productivity. -
supply chain tech and output management Online and physical platform to maintain a relationship with customers and manage the supply of finished products
Technologies used by farmers
- Drones and satellites
The primary motive of drones is to protect crops and reduce the water flow for farming.
- IoT sensors
IoT-based software provides weather condition-related information.
- GIS Software and GPS agriculture
This software-based technology help farmers to work in low visibility areas.
- Artificial Intelligence
AI helps farmers in crop selection and detecting diseases of plants and Maintaining soil health.
Growth of Agritech Industry The agriculture sector continues to be the growth driver of economic growth and even the union budget 2022 places a greater emphasis on providing tech services to farmers and helps them take advantage of all the technological advancement.
The government has taken strong initiatives to boost the agritech industry's growth. Recently, PM Narendra Modi signed agreements with Amazon, Microsoft, and cisco systems to refurbish the agriculture sector. These tech companies will be given access to data and statistics available on India’s agricultural ecosystem since 2014. The goal is to collect all data, encompassing crop patterns, soil health, insurance, credit, and weather trends, into a single system. These organizations can then use AI and data analytics to examine it. Source- otcpm24.com
How Valuqo Capital can help you Valuqo Capital has four years of experience in building feasibility and research reports in agriculture segments. We are involved in the agritech segment, research reports for various projects, and are working closely with founders.
Valuqo Capital has worked across various agriculture supply chains and has been providing funds raising exercises for clients across the supply chain cycle- segments including demand, supply, food processing inputs, data analytics.
We have successfully executed multiple agriculture projects. Valuqo Capital has assisted in facilitating fundraising establishment, feasibility studies in other activities which have led to the successful execution of multiple projects.