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5 agritech startups that can make big disruptions in 2023

Due to its potential, total investments in the agritech sector for 2021 reached US$10.5 billion. The global agricultural industry is ever-growing, with new seeds of innovation
5 agritech startups that can make big disruptions in 2023
5 agritech startups that can make big disruptions in 2023 (Representational image: Shutterstock)

The agriculture industry is gradually transforming into the next high-tech sector. Technologies like blockchain, artificial intelligence, internet of things, remote sensing and computer vision are being leveraged to improve crop yields, supply chains, and sustainability. Due to its potential, total investments in the agritech sector for 2021 reached US$10.5 billion. The global agricultural industry is ever-growing, with new seeds of innovation. From increased global food consumption to the climate crisis, there are numerous reasons why it is so essential for the world of agriculture to keep ahead of the climate crisis. Here is the list of the agritech startups that can make big disruptions in 2023.

  1. AgNext Technologies

Established in 2016 by Taranjeet Singh Bhamra, AgNext aims to facilitate trust and transparency in food value chains. By using deep-tech solutions in the agriculture sector to solve persisting legacy issues, AgNext aims to facilitate trust and transparency in food value chains. Working in Deep technology, AgNext under Taranjeet’s leadership has pioneered computer vision, spectral and IoT-based AI technologies, which today are employed at multiple transaction points enabling transparent and profitable trade in agriculture and food value chains.

2. Unnati

Unnati, conceptualised and co-founded by Amit Sinha and Ashok Prasad, is a fintech-based agri platform which aims to minimise the risks in farming and ensure much-needed transparency in the farming business. Unnati‘s founders recognised the difficulties farmers experience as a result of farming’s lack of predictability and regular access to agricultural inputs and information. Digital technology has the potential to play a key role and deliver immediate answers in this situation. Their objective to connect farmers to a single digital platform that supports farm entrepreneurship has been their driving force, resulting in the development of a complete ecosystem for farm entrepreneurs. From Unnati’s financial services to crop-specific consultancy, the brand works with farmers at every stage of the farming life cycle to ensure a sustainable future.

3. AgriBazaar

Founded in 2016, the idea behind AgriBazaar is to deliver tech-enabled future-ready solutions to the farming community in a frictionless manner and revolutionise the way post-harvest management services are processed across the country. It is this vision that empowered AgriBazaar to facilitate INR 9000 crore (GMV) worth of transactions since its inception, making it one of India’s largest online agri-trading marketplaces.

4. Aquaconnect

Founded by Rajamanohar Somasundaram, Aquaconnect is a full-stack aquaculture platform with embedded fintech that uses satellite remote sensing and artificial intelligence to enable aquaculture farmers, retailers, and seafood buyers to increase access to formal credit, farm inputs and post-harvest markets. Their unique tech solutions supercharge the entire aquaculture value chain and help build predictability and transparency into the value chain thereby making it efficient. Aquaconnect is funded by HATCH-Norway; India’s pioneer agritech VC, Omnivore; Japan’s Rebright Partners; Flourish Ventures; AgFunder; 6G Capital; Trifecta Capital and Lok Capital.

5. Fasal

Fasal started with a simple idea – removing the guesswork from farming. Starting its journey in 2018 with only a 4-member team, Fasal has helped farmers reduce the cost of cultivation and increase quality and yield, through its AI-powered platform for horticulture, delivering farm-specific, crop-specific, crop-stage specific, actionable advisory. It propagates sustainable agriculture and its solution impacts the social, economical and environmental facets, hence making a big impact on the UN’s Sustainable Development Goals.

Read more: IIT Kanpur to incubate 15 startups working towards solutions in healthcare and agriculture

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