On April 21, 2020 the “World Agri-Tech Live Webinar” hosted by Rethinks showcase four of the innovative startups pitching at the World Agri-Tech Innovation Summit in San Francisco.
The unprecedent change and disruption due to the Covid-19 pandemic allowed audiences around the world to attend the event. All the AgTech leaders have adopted a variety of technologies, AI, Blockchain, Robot and they are looking for expansion throughout the world.
AGNET, a company based in India founded in 2016 and last year it has raised a pre-Series A round of US$2 million (60 million baht) funding from Kalaari Capital, focusing on solving food quality, food safety and food traceability issues in agriculture and food value chain deploying Qualix platform. Qualix uses latest technologies in computer vision, spectroscopy and IoT devices merged with AI based data sciences for instant analysis of Physical, Chemical and Ambient Quality of Food traced back to the source.
AgTrace, an agtech startup in Brazil has developed a traceability solution that ensures transparency and information reliability, reducing response time to issues within the food value chain. Based on deep knowledge of farming processes and advanced IoT and blockchain technologies, AgTrace guarantees information security about agriculture processes, using sensors and equipment to register information from inside and outside the farm. In 2019, it started to adapt their solution to coffee, cotton, and soybeans and will expand to other crops such as sugarcane and corn.
Arugga, an Israel seed stage at US$ 1.8 million (54 million baht) funding was founded in 2017. The AI farming company is developing an autonomous ground robot which will treat and monitor individual plants in greenhouses. Its pollination technology was successfully tested in a commercial greenhouse, showing results as good as or better than the bees. By the end 2020, the company will launch its TRATA, the world’s first pollination technology replicates bumble bees’ buzz pollination. The robot will work when both temperature and humidity levels are optimal in the greenhouse and it enable the use of UV screening to decrease pest stress.
Last but not least, Augmenta, an agtech startup which started its operation in 2017 in Greece and raised a Seed round funding of US$2.5 (75 million baht) in October 2019. Augmenta provides automated precision application of farm inputs in real-time, boosting yield, enhancing quality and reducing input spend using deep learning with its device, Field Analyzer. It can determine the amount of fertilizers, fungicides and pesticides that the farm needs to reach to its full potential, saving cost up to 20% with yield project up to 15%. Farming operations of 20,150 acres (125,000 rais) in 9 countries including Greece, Serbia, Hungary, Germany, Turkey, Australia, US, Argentina and Brazil are already using Augment’s product for the crops of rice, corn, soybean, sugarcane and rapeseed.
The crop quality can be identified based on big scale of database data analysis. Technology can be applied to a wide range of crops everywhere in the world. Based on the global market, fund raising for AgTech startups is not too difficult. For those who are interested in AgTech startup, should consider these issues.
