Agritech startups are on the rise in India, with innovative companies developing cutting-edge solutions to improve agricultural production and tackle the challenges of a rapidly changing climate. Agritech startups in India are leveraging technology such as artificial intelligence, machine learning, and data analytics to help farmers make more informed decisions about their crop production and cultivation.
What are AgriTech startups?
Agritech start-ups or agricultural technologies include environmentally sustainable farming methods widely used in agribusiness to achieve both profitability and efficiency. Agritech is a worthy innovation because agriculture and India have a unique bond.
Agriculture has long been the cornerstone of the Indian economy, so it not only contributes significantly to India’s GDP but also determines the standard of living. Agritech start-ups are needed to improve rural incomes, protect farmers’ profits, increase economic turnover, and ensure India’s food and nutrition needs.
Advances in agritech are of great importance to both the Indian economy and countries that rely on Indian exports. Indian agritech start-ups are working together to improve farming practices and farmers’ livelihoods by implementing digitization, improving communication, and leveraging machine learning and data science.
Which will be the first agritech startup to become a unicorn?
DeHaat, a Bihar-based agricultural technology startup, is in talks with several investors, including major private equity firms, to raise his nearly $100 million Series E round in pre-money. DeHaat could become the country’s first unicorn agritech startup after a funding round, with a post-funding valuation of over $1 billion.
How do AgriTech startups work?
AgriTech startups are revolutionizing the way agriculture is done in India. They are leveraging the latest advancements in technology to bring new solutions to farmers and other stakeholders in the agricultural industry.
These startups provide innovative solutions to farmers that help them increase their yield and reduce their costs. They use technology such as data analytics, artificial intelligence, and machine learning to optimize crop production and increase efficiency.
AgriTech startups are also providing advanced irrigation systems, precision farming tools, and other agricultural services that can improve crop production. these startups are also helping bridge the gap between rural and urban areas by enabling efficient supply chain networks between the two regions. These startups also offer financial services such as loans and insurance for farmers which helps them manage risks associated with farming.
With the help of AgriTech startups, Indian farmers can now access the latest technologies to grow better crops with less effort. AgriTech startups are helping farmers increase their yields, reduce costs, and improve their livelihoods. From precision farming techniques to automated irrigation systems, these startups are providing innovative solutions that can help the Indian agricultural sector become more efficient and profitable.
How do I start an agricultural startup?
A guide for starting an agricultural startup:
1. Market research
Before committing to an idea, product, or service, it’s important to thoroughly research the particular market you want to enter. It will help you decide whether to continue at the beginner level. This process requires clear answers to the following questions:
- What is the current market potential?
- What does the future of the market look like?
- What are the problems consumers face?
- What problems do other competitors have?
- How do you see yourself in this market?
- Is your business local, regional, national or global?
Step 2 –Decide which of the following farming business ideas works best for you. Urban agriculture, i.e. farming in urban areas and their surrounding areas.
- Growing herbs, fruits, or vegetables
- Manufacture of botanical pesticides
- Organic gardening
- Fertilizer distribution
- Dairy
- Poultry farming
Step 3 – Obtain proof of title or lease of your chosen farmland and get a farm map with farm boundaries and watering holes.
Consider your expertise, skills, knowledge, and access to professional support before finalizing your business plan offerings.
Calculate short- and long-term economic potential, profitability, and prospects of selected raw materials and obtain relevant information.
Once you’ve focused on your goods, the next logical step is to identify the resources you need to acquire to produce your chosen goods.
Once you have decided on your chosen agribusiness sector, you will need to register your business under your chosen business name.
2. Arrange funds
Given the ever-present demand for food, agribusiness has the inherent advantage of always having customers. Many agribusinesses start as owners and raise capital when they want to grow. Investors prefer to enter the pre-growth or growth stage, so the agribusiness must have a track record of growth several years behind. If you need money, you have several options: bank loans, crowdfunding, incubators or accelerators, contest winners, and microfinance.
3. Register your business and acquire licenses
There are different types of business registrations such as ownership, partnership, limited liability partnership, private limited, and public limited. The four main steps for registering a company are:
Obtaining a Digital Signature Certificate (DSC), obtaining a Director Identification Number (DIN), and submitting an “eForm” or “New User Registration” to form a company.
In addition to registration, all relevant licenses must be purchased to get started. Licensing depends on the segment you enter. Law firms that help you with registration will also help you obtain a license. There are also specialized companies that act as intermediaries for their procurement. You can also do it yourself by visiting the Government of India portal.
What are five new agriculture technologies?
Here are five Modern agriculture technology that makes farming smarter
1. Wi-Fi-connected Crop
Electronic sensors installed in the fields of modern farms can monitor a wide variety of conditions. In some cases, devices transfer data to farm servers or the cloud (network servers are often used for computers and data processing).
Add the right amount of fertilizer as needed, then distribute the right amount of water with drip tape with rows of hollow holes along the crop. You can maximize efficiency, distribute the right amount of water regularly, eliminate waste, and use less fertilizer water. Farmers can access this data and receive real-time information via tablets and smartphones. In the past, this required a time-consuming, manual, and intensive soil testing process.
2. Soil and Water Sensors
The most direct impact devices are soil and water sensors. These sensors are durable, discreet, and relatively inexpensive. Even family farms can afford to spray their land with many benefits. Rather than relying on predetermined schedules, farms can use these sensors to detect moisture and nitrogen levels and use this information to determine when to water and fertilize. This uses resources more efficiently and reduces costs. It also helps make farms greener by conserving water, limiting erosion, and reducing fertilizer levels in local rivers and lakes.
3. Bees and drones
Scientists warn that if climate change continues, food shortages will become more likely and prices will rise. Health officials are turning their attention to strengthening food reserves and finding alternatives to farming.
Drones have many uses in agriculture, but one issue that has received a lot of media attention recently is the disappearance of bees. Bees play an important economic role as pollinators and help sustain current levels of agricultural production. Luckily, drones are now being used for experiments and are expected to complement the pollination efforts that the rest of the bees are doing.
Other ways agriculture is starting to use drones include automated crop harvesting, aerial drone photography, and possibly delivery drones in the future.
4. Vertical Farming
Vertical farming has been a science fiction topic since the 1950s and possibly since, but it is not only scientifically feasible now, but will be financially feasible within a decade. Vertical farming, a component of urban farming, is a method of producing food in vertically stacked layers.
The most obvious advantage is its ability to grow in urban environments, making fresher food available more quickly and at a lower cost. However, vertical farming is not limited to urban environments, as originally expected. Farmers in all regions can make better use of the available land and use it to grow crops that are not normally profitable in those areas.
5. Farm Automation
Agricultural automation (smart farming) is a technology that makes farms more efficient and automates the production cycle of crops and animals. More and more companies are working on robotic innovation to develop drones, autonomous tractors, harvesting robots, automated irrigation, and seeding robots.
The main goal of agricultural automation technology is to cover simpler routine tasks. Some of the key technologies most commonly used on farms include Harvest automation, autonomous tractors, seeding and weeding, and drones.
Agricultural automation technologies address key issues such as a growing world population, agricultural labor shortages, and changing consumer preferences. The benefits of automating traditional agricultural processes to address issues such as consumer preferences, labor shortages, and the environmental footprint of agriculture are immense.
FAQ- Agritech startups in India
1. What are the top agritech startups in India?
Apna Godam, KhetiGaadi, Fasal, Ninjacart, Waycool, and BharatAgri are some of India’s leading agritech startups.
2. Are there any listed agritech companies in India?
Bayer CropScience, Godrej Agrovert, and PI Industries are some of the agritech companies listed in India.
3. How many agritech startups are there in India?
Currently, India has over 1,000 agritech start-ups and the central government plans to increase the number to 10,000.
4. Why is agritech important in India?
AgriTech helps farmers increase yields, improve animal health, reduce waste, reduce carbon footprint and increase scalability by offloading labor-intensive operations.
Wrapping Up
The companies are also developing Agritech startups in India for apps and platforms that enable farmers to access resources like weather forecasts, soil quality tests, market prices, and other data to help them maximize their yields.
As India continues to invest in the agritech space, the hope is that these startups will be able to drive economic development and provide opportunities for rural populations across the country.
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