- 16 Aug 2019
- 1 min read
According to a recent NASSCOM report, yearly growth of agritech startups in India has been at a rate of 25%.
- India is home to more than 450 startups in the agriculture technology sector, of the global total of about 3,100.
- With Indian farmers facing post harvest losses amounting to Rs 93,000 crore, these agritech startups can address this issue with demand driven cold chains, warehouse monitoring solutions and market linkages that can significantly boost farmer income.
- Agritech startups such as Ninjacart and Crofarm are creating direct market linkages through digital platforms
Applications of Agritech Startups
- These could support evolving business areas such as farm to fork (Direct delivery of produce from farmers to markets).
- Innovations like image sensing for quality grading.
- Storage monitoring based on the Internet of Things.
- Digitisation of mandis, as well as farmer producer organisations.
- Solving farmers’ credit issues (providing low cost digital loans using virtual credit cards to farmers).
- Increase crop productivity by using big data analytics.
- Artificial Intelligence and remote sensing to improve land management, crop cycle monitoring and harvest traceability.