AgroSpectrum September 2021

4 AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

Volume 02  |  Issue 07  |  September 2021

Publisher & Managing Editor Sub Editor TOP STORIES
Ravindra Boratkar
Nitesh Pillai Scan the Corteva
Advisor [email protected] QR Code Agriscience,
Dr C. D. Mayee Plantix unveil free
Former Chairman, ASRB-ICAR Correspondent: APAC pest, disease and
weed identification
Chief Editor Hithaishi C. Bhaskar app
Dr. Milind Kokje [email protected]
[email protected] Scan the NewLeaf and
Social Media Cummunication QR Code Meristem
Advisor - Content collaborates to
Vijay Thombre Ankit Kankar bring Innovative
[email protected] Biologicals
Editor
Narayan Kulkarni CFO & Special Correspondent
[email protected]
Manasee Kurlekar
Executive Editor [email protected]
Dr. Manbeena Chawla
[email protected] Operation & Production

Assistant Editor Asmita Thakar
Dipti Barve [email protected]
[email protected]
Design
GROWMARK,
MEDIA VISION Indigo Ag
collaborates
Circulation, Subscription to expand
and Media Enquiry Carbon Farming
opportunities
Sudam Walekar
[email protected]

MM Activ Sci-Tech Communications Scan the
South Region: Alok Srivastava (National Business Head-Ad Sales & Marketing) QR Code
‘NITON, Block ‘B’, First Floor, No.11/3, Palace Road, Bangalore-560 001.
Tel.: +91-80-41131912/13 І Mobile: +91-9845128747 E-mail: [email protected] Scan the Spire Global with
QR Code Mantle Labs to
West Region: provide complete
 Pune : Poonam Bhosale (Digital Content Executive), [email protected] risk assessment
Mobile: +91-9975474668 solutions
 Mumbai : Ankit Kankar (Senior Manager - Digital Strategy & Growth)
www.agrospectrumindia.com
1st Floor, CIDCO Convention Center, Sector 30A, Vashi, Navi Mumbai, Maharashtra-400703.
Mobile: +91-9579069369 [email protected] Product & Marketing:
Ankit Kankar
North Region: Dr. Manbeena Chawla (Executive Editor) email: [email protected]
103-104, Rohit House 3, Tolstoy Marg, Connaught Place, New Delhi - 110001.
Tel. No: +91 11 4354 2737 І Contact No. + 91 11 41556270 E-mail: [email protected]

Nagpur: Manisha Boratkar
402, Govind Apartments, Shankar Nagar Square, Nagpur 440010. Tel. No: +91-712-2555 249

INTERNATIONAL: Singapore
MM Activ Singapore Pte. Ltd.
Saradha Mani, General Manager
#08-08, High Street Centre, 1 North Bridge Road, Singapore - 179094
Tel: +65-63369142 І Fax:+65-63369145 І E-mail: [email protected]

Printed and published by Disclaimer:  Contents and advertisements in Agro
Ravindra Boratkar on behalf of MM Activ  Views expressed in the published articles Spectrum are purely for information
Sci-Tech Communications Pvt Ltd purposes and the Publisher & Editor of
Printed at SPECTRUM OFFSET, D-2/4, are personal opinions of the contributors. Agro Spectrum give no warranty and
Satyam Estate, Behind CDSS, Erandwane, Agro Spectrum does not necessarily claim accept no responsibility for the accuracy
Pune-411004. Maharashtra. to support these views. or completeness of information provided
Tel : +91 20 2543 6556, TIN No: 09565712431  Readers are advised to make proper therein. Readers must undertake research
Published from Ashirwad, 36/A/2, S.No. enquires before entering into any and take professional advice before acting
270, Pallod Farms, Near Bank of Baroda, Baner commitment in relations to advertisements on any information provided in Agro
Road, Pune- 411045. Tel. No: +91 20 2729 1769 appearing in this publication. The Spectrum.
www.agrospectrumindia.com Printer, Publisher, Editor and Owner of
the magazine will not be liable for any
consequences.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com AGRO EDIT 5

A heady export initiative

The recent export of dehydrated Mahua cent during this period with a much higher share
flowers from Chhattisgarh to France is of primary agricultural commodities. This splendid
much more than a regular export of agri or performance is despite the pandemic.
processed food products. It is significant in many
ways. This is the first time dehydrated Mahua Non-basmati rice export has almost doubled to
flowers have been sent to France. The flowers were 13.09 million tonnes in 2020-21 from an average
sourced from the forest in the Korba district of of 6.9 million tonnes in the last five years. It
Chhattisgarh. The most important aspect is that has increased from an average of $2.7 billion to
the export involves the local tribal population who $4.8 billion. However, the export of Basmati rice
collected the flowers. increased marginally from 4.19 million tonnes to
4.63 million tonnes, increasing the earning from
This export puts a previously ignored region on $3.98 billion to $4.02 billion. The government has
the export map, a welcome new direction for India's set the target of $60 billion worth of rice by next
agri and food exports. The government has given year in its 2018 agriculture export policy.
a thrust on promoting export of such products that
were not part of exports till now. Mahua is known Still, it accounts for even less than only 2 per cent
for the liquor which is brewed locally. It is more of the total global exports of processed foods. The
than likely that the flowers may re-enter the Indian new trends like the rising export of non-basmati
market in a fancy branded French liquor avatar. rice and the export of Mahua flowers, shows
Moreover, it is also useful for medicines and syrups. that the country has a lot of potential to further
grow exports of agri produces and processed food
The Agricultural and Processed Food Products products, even with a little value addition.
Export Development Authority (APEDA), recently,
also facilitated export of Himalayan goats from It is necessary to explore the untapped forest
Uttarakhand to the United Arab Emirates (UAE). produce like Mahuva to bring them into mainstream
This, too, is sourced from the villages in the hills. exports. This will not only grow the exports but
It also facilitated export of exotic fruits like Dragon will provide good income to farmers and the tribal
Fruit and also organised export promotion events community. The 2018 agriculture export policy
in Saudi Arabia. In another development, Poland emphasizes diversifying the export products. In
has shown interest in collaborating with India in this diversification the till now never thought
various sectors, including food processing. Apples of products, more varieties like Mahuva, can be
and confectionary products comprise 50 per cent of identified and sourced. Of course, once their regular
Poland's agro-processed products export to India. export begins their regular supply will have to be
ensured, if needed by cultivation. With 5,000 years
India is the 17th largest exporter of processed of traditional medicine and herbal background like
foods in the world with Rs 31,205 crore worth of Ayurveda, the export of dietary supplements can
processed foods export in 2019-20. The exports also be considered by innovating on products.
grew by 25.02 per cent in dollar terms and 29.43
per cent in rupee terms in 2020-21. Envisioning the requirements of the new
post-COVID-19 world may also help a lot in the
The average value of export of processed food development of export-oriented products. The
is $32.8 billion from 2015-16 to 2019-20. The processing of foods is much less in India which too
earnings from exports of APEDA products have will have to be increased. All such efforts will take
increased from an average of $17.8 billion per year processed food exports to new heights.
from 2015-16 to 2019-20 to $ 20.65 billion in 2020-
21. The share of agricultural and processed food Dr. Milind Kokje,
products in India’s total exports has been 11 per Chief Editor

[email protected]

6 CONTENT AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

CONTENT COVER STORY

17

Startups propel Indian
agri to $25 Bn target

Despite COVID-19, the agri-tech startup sector has remained profitable across
the country. As per the data revealed by the Ministry of Finance in its recently
tabled Economic Survey, India’s agricultural sector has shown to be resilient. The
Agriculture and Allied activities grew 3.4 per cent at constant prices during 2020-
21 (first advance estimate). There are more than 450 agri-tech startups (figures
revealed by the Ministry of Agriculture & Farmers Welfare) in India across the
value chain, leveraging the use of technology and innovation. India's agri-tech
revolution is experiencing an exciting digital transformation.
It intends to expand the use of emerging technology and
innovative solutions throughout the value chain. Farmers no
longer need to go anyplace because everything is available
from the comfort of their own home via a smartphone
app. This is the new face of agriculture in India. With
wider-than-ever penetration of mobile networks,
internet data plans at economical cost, reliable
transaction systems, and evolving processes that are
linked with real-time data, and real-time supply and
demand monitoring, Indian agriculture is all set to
grow like never before.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com CONTENT 7

CONTENT
SPEAKING WITH
22 32
34 “Our investment strategy
Emerging innovation 36 hinges on improving
for sustainable agricultural sustainability &
farming smallholder profitability”
Jinesh Shah,
Hemendra Mathur,
Managing Partner,
Venture Partner, Omnivore

Bharat Innovation Fund "R&D in India-
specific tech must
How COVID-19 24 be emphasised"
unleashed agri-tech
Taranjeet Singh Bhamra,
startup industry
CEO and Founder, AgNext
Sameer Bhanushali, Technologies

Founder & CEO, TradeBridge "It's essential to ensure that
our technology is efficient,
26 Livestock startups at scalable and easy to use"
29 threshold of boom
Mayank Tiwari,
How agri-tech startups
are strengthening Co-Founder & CEO, ReshaMandi
supply chain
"Farmers' produce are
REGULARS 38 fetching much better prices
40 with numerous platforms
Editorial.......................................05 providing market linkages"
Your Views.................................08 Nikhil Tripathi,
Policy News...............................09
Finance News............................11 Co-Founder, Bijak
Livestock news.........................13
Startups News..........................15 “Efficient supply chain and
Technology News.....................43 better access to agri inputs
Academic News........................44 is crucial for agri-tech
Agri-Inputs news.......................46 startup growth”
Supply chain news...................48 Pankaj Khandelwal,

Chairman & Managing Director, INI Farms

8 YOUR VIEWS AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

TOP VIDEO

Kaushal
Khakhar, CEO,
Kay Bee Exports
speaks about the
constraints in
agri-export and
way forward

Scan the QR Feedback
Code 
Timely coverage of biofuel
Courtesy- Indian Chamber of Commerce industry

Athang Jain, AgroSpectrum August issue on biofuel
Director, Jain industry has timely covered the important
Farm Fresh activities in biofuel industry and ethanol
Foods Ltd making initiatives by sugar industry on the
informs about backdrop of recent announcement of Central
the Banana government about 20 per cent blending of
value chain ethanol in petrol. Issue has rightly covered all
and export segments of biofuel industry.
opportunities
Shyamli Sontakke, Pune
Scan the QR
Code  Informative interview

Courtesy- Indian Chamber of Commerce Interview of Nitin Gadkari, Union Minister Road
& Transport Highways, published in August
Dr Sudhanshu, issue was very inspirational and informative.
Secretory, Readers got an important information related
APEDA speaks to all government schemes, policy and
about the APEDA initiatives for increasing ethanol production in
initiatives for India.
connecting
buyers to Asim Kalshettiwar, Nagpur
producers
Coverage of drone technology
Scan the QR
Code  AgroSpectrum should publish a special issue
on use of drone technology in agriculture and
Courtesy- Indian Chamber of Commerce also focus on drone industry in India. Since
government has issued an approval to 10
organisations to use drone for agri-research
and innovation, it will be useful for budding
agri-preneurs to know about the various uses
of drones.

Pranali Jambuvant, Bangalore

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com POLICY NEWS 9

Centre facilitates export
of surplus sugar to ensure
timely payment of cane dues

Cabinet The Government of India is last three sugar seasons,
taking proactive measures to 2017-18, 2018-19 and 2019-
approves boost the export of surplus 20, about 6.2 Lakh Metric
sugar and diversion of sugar Tonne (LMT), 38 LMT
implementation to ethanol to ensure timely and 59.60 LMT of sugar
payment of cane dues of has been exported. In the
of National sugarcane farmers and current sugar season 2020-
to boost the agricultural 21 (October – September),
Mission on economy. The government the government is providing
has been encouraging sugar assistance of Rs 6000/MT
Edible Oils – mills to divert surplus to facilitate the export of 60
sugar to ethanol and has LMT of sugar. Against the
Oil Palm been providing financial export target of 60 LMT,
assistance to sugar mills contracts of about 70 LMT
The Union Cabinet has to facilitate the export of have been signed, more
given its approval to launch sugar, thereby improving than 60 LMT has been lifted
a new mission on oil palm their liquidity, enabling the from sugar mills and more
to be known as the National farmers to make
Mission on Edible Oils – Oil timely payments than 55 LMT has
Palm (NMEO-OP) as a new of cane price dues been physically
Centrally Sponsored Scheme of sugarcane exported from
with a special focus on the farmers. In the the country, as of
North East region and the August 16, 2021.
Andaman and Nicobar Islands.
A financial outlay of Rs 11,040 Ag Ministry issues clarification
crore has been made for the on G-2 Form for biostimulants
scheme, out of which Rs
8,844 crore is the share of the The Ministry of Agriculture and Farmers Welfare in a recent
Government of India and Rs clarification to all the directors of states and Union Territories
2,196 crore of the State share, (UTs) have stated to include biostimulants in Schedule VI of
which includes the viability Fertiliser Control Order (FCO). As per the notification, all
gap funding also. Under this manufacturers/importers are required to submit applications
scheme, it is proposed to cover in Form G to the Controllers of Fertilisers along with the toxicity
an additional area of 6.5 lakh report from NABL accredited laboratories and details of bio-
hectares (ha.) for oil palm till efficacy trials conducted in the National Agriculture Research
the year 2025-26 and thereby Framework. The order further mentioned that in order to
reaching the target of 10 lakh facilitate the existing manufacturing industry, a provision has
hectares ultimately. The scheme been made from provisional registration of two years from the
will immensely benefit the oil date of issue of notification i.e February 22, 2023. Concerns
palm farmers, increase capital were being raised by biostimulants associations as well as
investment, create employment the state governments with regards to the implementation of
generation, shall reduce the this notification. States have to expedite the issue of the G-2
import dependence and also Form within 15-20 days of the receipt of application from the
increase the income of the manufacturer, in order to facilitate all manufacturers to submit
farmers. their G-1 Form for provisional registration in the month of
December 2021, to the Controller of Fertilizer, JS (INM),
DAC&FW, Krishi Bhawan.

10 P O L I C Y N E W S AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

Govt plans Tomar inaugurates world's
second-largest refurbished
to liberalise gene bank

MDA Policy to Union Minister for Agriculture and Farmers Welfare, Narendra
Singh Tomar inaugurated the world's second-largest refurbished
promote use state-of-the-art National Gene Bank at the National Bureau
of Plant Genetic Resources (NBPGR), Pusa, New Delhi. The
of alternative gene bank at the National Bureau of Plant Genetic Resources,
Pusa will benefit farmers with the facilities for germplasm. The
fertilisers National Gene Bank established in the year 1996 to preserve the
seeds of Plant Genetic Resources (PGR) for future generations
Union Minister for Chemicals can preserve about one million germplasm in the form of seeds.
and Fertilisers Mansukh Presently it is protecting 4.52 lakh accessions, of which 2.7 lakh
Mandaviya reviewed the are Indian germplasm and the rest have been imported from other
initiatives of the Department countries. National Bureau of Plant Genetic Resources is meeting
of Fertilizers for Making India the need of in-situ and ex-situ germplasm conservation through
Aatmanirbhar in fertilisers. The Delhi Headquarters and 10 regional stations in the country.
minister also informed that
the government is planning to Govt dedicates 9 TPD
liberalise Market Development compressed biogas plants
Assistance (MDA) Policy to
promote the use of alternative Under the aegis of the Ministry of Petroleum and Natural Gas,
fertilisers. MDA policy was Oil and Gas companies celebrated World Biofuel Day with
earlier limited to city compost the theme ‘Biofuels for Sustainability and Rural Income.' The
only. There were demands special exhibition showcased biofuels and bio-energy related
to expand this policy by developments and technical achievements made in the field of
incorporating organic waste biofuels in India. The event also witnessed active participation
like biogas, green manure, by many technical service providers, post-harvesting equipment
organic compost of rural manufacturers, Indian Air Force, biodiesel producers, research
areas, solid/liquid slurry, institutes, farmers, etc. During the occasion, a nine TPD
etc. The expansion will fully Compressed Biogas (CBG) plant of Indian Potash (at Rohana
complement the Swachh Bharat Kalan, Muzaffarnagar) and three retail outlets of Indian Oil at
Abhiyan of the Government
of India. The Minister was Muzaffarnagar (Chandravati Filling Station, Kissan
apprised that the Matix Filling Station and Agarwal
Fertilisers plant in Durgapur, Service Station) were also
West Bengal having a capacity dedicated to the nation.
of 12.7 lakh metric tonnes will
commence soon. The project These retail outlets will be marketing
shall not only improve the CBG produced from this plant.
availability of fertiliser to
farmers but also give a boost
to the economy in the region
including the development
of infrastructure like roads,
railways, ancillary industry etc.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com F I N A N C E N E W S 11

BASF India’s Q1 FY 2021-22 Bayer Crop
profit hits Rs 2,484.4 Mn
Science posts
BASF India has registered sales of Rs 30,129.2 million for
the first quarter ended June 30, 2021, as compared to Rs 10.6% rise in
17,864.9 million in the corresponding quarter of the previous
year, representing an increase of 69 per cent. The company sales in Q2
has reported a profit (before exceptional items) of Rs 2,484.4
million as compared to a loss (before exceptional items) of FY2021
Rs 406.9 million in the prior-year quarter. It saw
a strong start to FY 21-22 and recorded growth The Bayer Group registered
in revenues and margins compared to the strong growth in the second
corresponding quarter of the previous year, quarter of 2021. Sales at
which was impacted by the COVID-19 induced all divisions increased by a
lockdown. However, digital outreach for double-digit percentage after
products from the agricultural solutions adjusting for currency and
segment helped increase their visibility portfolio effects. The company
and demand. The industrial solutions is upgrading its full-year
and materials segments delivered guidance and anticipates
strong growth in revenues and results higher sales and core earnings
with an increase in volumes and prices per share than in its previous
realisations. forecast. In the agricultural
business (Crop Science), Bayer
ATUL posts consolidated increased sales by 10.6 per cent
net profit of Rs 165.94 Cr (Fx & portfolio adj.) to 5.021
in Q1FY22 billion euros, with growth in all
regions. The division registered
ATUL, an integrated chemical company, has recently posted double-digit percentage gains
its (Q1 FY 2021-22) - QoQ results. In the quarter, the company in Latin America and Asia
reported a total income of Rs 1109.82 crore during the period Pacific as well as significant
ended June 30, 2021, as compared to Rs 1134.56 crore during growth in North America after
the period ended March 31, 2021. The company has posted adjusting for currency and
net profit / (loss) of Rs 165.94 crore for the period ended June portfolio effects. Fungicides
30, 2021, as against net profit / (loss) of Rs 175.05 crore for (Fx & portfolio adj. plus 22.9
the period ended March 31, 2021. The company has reported per cent) and Herbicides (Fx &
Earnings per share (EPS) of Rs 56.09 for the period ended portfolio adj. plus 16.2 per cent)
June 30, 2021, as compared to Rs 59.04 for the period ended achieved particularly strong
March 31, 2021. During (Q1 FY 2021-22) - YoY Comparison, gains. Earnings Before Interest,
the company has reported a total income of Rs 1109.82 crore Taxes, Depreciation, and
during the period ended June 30, 2021, as compared to Rs Amortisation (EBITDA) before
701.20 crore during the period ended June 30, 2020. special items at Crop Science
decreased by 25.4 per cent to
1.018 billion euros, giving a
margin of 20.3 per cent.

12 F I N A N C E N E W S AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

Best Agrolife CropIn raises $20M
registers PAT of of primary capital on
Rs 25.78 Cr in Series C funding
Q1 FY22
In the recently concluded Series C funding, Agri-
Best Agrolife, an India-based agrochemical tech startup CropIn has raised $20 million of
company, has announced its financial results primary capital, taking the overall investment into
for the quarter ending on June 30, 2021. the company to $33 million. This was followed by
The company has registered a revenue of Rs a secondary sale of $4.3 million and was open to
344.56 crore for the quarter with an EBITDA the company’s employees and investors holding
of Rs 36.06 crore (+316 per cent YOY). The stocks. Several early investors and employees who
Profit After Tax (PAT) for Q1 FY22 was Rs sold their stocks realised nearly 70X returns on
25.78 crore, a growth of 256 per cent YOY. their investment. In the first of its kind move in
EBITDA and PAT margins improved with the agtech space, this is huge value creation for
a YOY increase of 338 per cent and 276 per the employees and depicts the healthy growth that
cent respectively. The EBITDA margin was the company has been witnessing. A
10.47 per cent and the PAT margin was 7.46 Secondary Sale or ESOP
per cent. The company is now starting to buyback ensures that
see the benefits of its tremendous efforts in employees receive benefits
innovation, research, backward integration for the impact that they are
and good execution, as per a statement creating with their work and
issued by Best Agrolife. contributes significantly to
the growth of the company.
So far, CropIn has digitised
over 16 million acres of
farmland and enriched the
lives of nearly seven
million farmers, across
over 52 countries
covering 400 crops
and over 10,000
crop varieties.

Centre approves Rs 600 Cr financial
support for 2G ethanol bio-refineries

The government has approved financial support of Mantri JI-VAN Yojana. The government has
Rs 150 crore each to four commercial projects at allowed procurement of ethanol produced from
Bathinda (Punjab) of HPCL, Panipat (Haryana) of other non-food feedstocks besides molasses, like
IOCL, Bargarh (Odisha) of BPCL and Numaligarh cellulosic and lignocellulosic materials including
(Assam) of NRL and Rs 15 crore to one demo plant the petrochemical route. Oil PSUs have entered
at Panipat (Haryana) of IOCL under the Pradhan into a Memorandum of Understanding with state
governments and technology providers for 2G
ethanol bio-refineries. Oil PSUs have planned to set
up second generation (2G) ethanol bio-refineries
to augment ethanol supplies for Ethanol Blended
Petrol (EBP) Programme at Panipat in Haryana,
Bathinda in Punjab, Bargarh in Odisha, Numaligarh
in Assam and Davangere in Karnataka.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com L I V E S TO C K N E W S 13

MoFAHD provides financial assistance to
set up FFPOs

The Department of Fisheries, Ministry of National Cooperative Development Corporation,
Fisheries, Animal Husbandry and Dairying MoAFW for setting up of 50 FFPOs at a total cost
(MoFAHD) under the Pradhan Mantri Matsya of Rs 24.50 crore. Besides, approval has also been
Sampada Yojana (PMMSY) is providing financial accorded during 2020-21 to the proposal of the
assistance for setting up of Fish Farmers Producer National Fisheries Development Board (NFDB)
Organizations (FFPOs) to economically empower for setting up 22 FFPOs at a total cost of Rs 10
the fishers and fish farmers and enhance crore under the PMMSY.
bargaining power. The financial support provided
under the PMMSY to each FFPOs primarily
includes the cost of formation and incubation,
management, equity grant and training and
skill development. Further, under PMMSY, the
Department of Fisheries, MoFAHD during 2020-
21 has accorded approval to the proposal of the

Livestock products NLM to focus on
exports up 106% in breed improvement
Apr-June 2021-22 in livestock

In a major boost to livestock export, National Livestock Mission (NLM) proposes to bring
the Agricultural and Processed Food
Products Export Development Authority a sharp focus on entrepreneurship development
(APEDA), under the Ministry of Commerce
& Industries, Government of India, is and breed improvement in rural poultry, sheep,

successfully exporting goat and piggery including feed and fodder
Indian Buffalo meat in
more than 70 countries development. The Rural Poultry Entrepreneurship
across the world, including
Indonesia. As per the component will give direct employment to 1.5
quick estimates – April-
June, 2021-22 vis-à-vis lakh farmers and 2 lakh
April-June, 2020-21, the export of livestock
products have increased from $484 million farmers will be directly
(Rs 3668 crore) to $1023 million (Rs 7543
crore) i.e. 112 per cent in USD terms and 106 benefited from sheep
per cent in rupee term. There has been a rise
in demand for Indian bovine meat across the goats and poultry
globe due to its high quality, nutrient values
and risk-free as the buffalo meat is prepared development. About
and exported under World Organisation
for Animal Health (OIE) guidelines for any 7.25 lakh high yielding
risk mitigation. Due to high demand, Indian
buffalo meat is exported to Hong Kong, animals will be covered
Vietnam, Malaysia, Egypt, Indonesia, Iraq,
Saudi Arabia, the Philippines, the UAE, etc. under risk management

benefitting 3.5 lakh farmers. Fodder and fodder

seed availability in the country will be increased

by many folds through the creation of fodder

entrepreneurs. The Livestock Census & Integrated

Sample Survey component will support states for

undertaking the Livestock Census and for bringing

out production estimates of milk, meat, egg and

wool which is crucial for formulating strategies for

the holistic development of the livestock sector.

The dairy cooperatives and farmer producer

organisations engaged in dairy activities will be

provided with 4 per cent interest subvention for

meeting their working capital requirements.

14 L I V E S TO C K N E W S AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

GFS India selects Banas Dairy achieves
Aquaconnect for Rs 12,982 Cr turnover
accelerator prog in 2020-21

Aquaculture technology platform Aquaconnect Gujarat based Banas Dairy, a lifeline of cattle
has been selected for the fifth class of Google farmers and farmers of Banaskantha district
for Startups Accelerator (GFS) India. Out of of Gujarat, has achieved a turnover of Rs
the 700 startups screened for the programme, 12,982 crore in the year 2020-21. The dairy
Aquaconnect, along with 15 other startups, has succeeded to generate this revenue in a
has been selected to be part of the GFS India very short time, proving its strong foothold
programme. Aquaconnect works with over 35000 in the current market. Banas Dairy, being
fish and shrimp farmers using AI predictive tools located in just a single district of Gujarat and
for better farm productivity and connects them associated with about 4, 50,000 families
with formal finance, insurers, and processors to engaged in animal husbandry, is still able to
improve Indian aquaculture value chain efficiency. generate a better turnover over other dairies.
Under the GFSA-India programme, Aquaconnect The turnover of the dairy in the year 2013-14
has an opportunity to work with Google mentors was Rs 4,687 crore which increased to more
and industry experts on tech guidance, machine than Rs 9,808 crore in 2018-19. The turnover
learning, product strategy, UX and design, increased to more than Rs 12,970 crore in
leadership workshops, networking opportunities 2019-20. It has achieved an annual turnover
and Public Relations support. The company of more than 12,982 crore in the current
raised $4 million in July in pre-Series A round year i.e. 2020-21 thereby surpassing all its
led by Rebright Partners and Flourish Ventures. previous records. Moreover, this year Banas
AgFunder and 6G Capital also participated in this Dairy has broken its own record of last year
round, along with existing investors Omnivore by processing 67.96 lakh litres of milk daily.
and HATCH-Norway.

Dairy tech startup NutriMoo expands delivery services

Gurgaon-based dairy and whole-food tech current 1500 MAUs. NutriMoo has an in-house
startup NutriMoo by Credence Whole Foods has processing facility that is well equipped to meet
expanded its current offerings of milk, paneer, world standards in pasteurisation, sterilisation
curd and ghee to launch daily essentials such as and homogenisation. The foremost mission is
fresh vegetables, fruits, bread and eggs with same- to provide good wholesome milk to ensure the
day delivery. With this, NutriMoo plans to target safest and purest products reach the customers.
30,000 monthly active users (MAUs) from its NutriMoo is currently operational in Gurgaon
and plans to launch its Delhi and Uttar Pradesh
operations in a phased manner. The company has
backed up the entire setup including the supply
chain with the latest use of technology. With a
sense of passion to work towards social welfare,
NutriMoo is working towards curating innovative
‘Health and Wellness’ products, reaching out to a
diverse community, creating a sustainable future.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com S TA RT U P  N E W S 15

Aquaconnect on Forbes Asia 100 to Watch list

Chennai-based aquaculture startup Aquaconnect the farming communities and works with 35,000+
has been listed in the inaugural ‘Forbes Asia 100 farmers in various states of India. The company is
to Watch’ list. Forbes list spotlights notable small working towards creating market linkages, formal
companies and startups on the rise across the Asia finance and insurance accessibility for the Indian
Pacific region. The list features two aquaculture aqua farmers.
startups and other startups in 10 categories across
17 countries and territories across the Asia Pacific
region. Founded in 2017, Aquaconnect is the pioneer
of data and tech-enabled aqua farming in India. It
is a full-stack aquaculture technology venture that
works with shrimp and fish aquaculture farmers
to improve their farm productivity through AI and
satellite remote sensing technology. Aquaconnect
aims to promote sustainable aquafarming among

AgNext wins Symbiotics,
Samunnati
NASSCOM ‘AI Game Financial launch
agri green bond
Changers’ award
Symbiotics, a leading market access platform
AgNext Technologies, India’s leading agritech for impact investing, with Samunnati Financial
startup, has been awarded the ‘AI Game Intermediation & Services has launched a Green
Changers’ award in agriculture by NASSCOM Bond whereby the proceeds of $4.6 million in local
in the second edition of their Xperience Virtual currency equivalent are fully allocated towards
Summit. The award recognises the pioneering climate-smart agriculture. The bond is issued via
work being done by AgNext to implement Symbiotics sponsored bond issuance platform
Artificial Intelligence (AI)-led solutions to digitise under its sustainability, social and green bond
food quality for multiple commodities and framework, which was certified in December 2019
accelerate food trade. The company presented the by DNV GL. The Green Bond will be listed on the
use cases of their solutions across commodities Luxembourg Green Exchange within the Green
such as grains/oilseeds, milk, tea leaves, spices Bond section. The proceeds are to be fully used
and animal feed. AgNext’s AI implementation towards a three-year tenor, senior, local currency
story was also covered by NASSCOM in their loan facility to Samunnati. Samunnati is working
AI Game Changers compendium, which brings with Farmer Producer Organisation (FPOs) on the
together 50 AI use cases from across the sectors. supply side and Agri Enterprises on the demand
AgNext has built novel AI tech solutions to side across 22 states in India. This bond will help
help agribusinesses in addressing quality Samunnati further offer customised financial
assessment issues, to bring more trust, speed solutions to entities interested in adopting
and transparency in the food trade across global climate-smart and green solutions, using social
agricultural value chains. The company is at the and trade capital, to FPOs and SMEs, enabling the
forefront of deep-tech implementation in post- Agri value chain to operate at a higher equilibrium.
harvest agriculture processes.

16 S TA RT U P  N E W S AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

Cargill, Ecolab Kheyti, Samunnati partner to
provide loans to farmers for
announce Kheyti Rakshak kits

2021 class of Hyderabad-based Kheyti is partnering with Samunnati to deliver
these micro greenhouses called Kheyti Rakshak to over one lakh
entrepreneurs to farmers. To start off with, the partnership will provide the kits to
over 100 farmers across Telangana and Karnataka and eventually
join mentorship expand it to one lakh farmers in the next 4-5 years. Under this
partnership, potentially $150 million (approximately Rs 1,000
prog crore) will be deployed by Samunnati to make this model reach
one lakh smallholders. Kheyti helps smallholder farmers battle
Cargill and Ecolab have climate change through the greenhouse-in-a-box, a low-cost
announced the latest class greenhouse bundled with end-to-end services and it helps the
of entrepreneurs to join farmers grow quality vegetables even in off-seasons. Meanwhile,
the Techstars Farm to Fork Samunnati will offer farmers loans to purchase the Kheyti
Accelerator, a three-month, Rakshak kits, which are 80 per cent less expensive compared to
mentorship-driven programme other alternatives in the market.
that engages early-stage
entrepreneurs changing the face APEDA organises
of the global food system. The 11 orientation prog for
startups in the 2021 Techstars startups in agri-export
programme are utilising
technology to drive innovative Agricultural and Processed Food Products Export Development
solutions in areas such as the Authority (APEDA) in association with Agriculture University,
future of food retail, food safety, Jodhpur, Rajasthan organised a programme where more
and workforce development and than 430 farmers, students, traders and other stakeholders
management. Now in its fourth had participated. The orientation programme for startups in
year, the Techstars Farm to Fork
Accelerator engages early-stage agri-export was aimed at creating
entrepreneurs seeking to effect awareness among farmers and
positive change across the food agriculture students in the western
system through the improvement region of Rajasthan on agri-exports.
of food safety and quality, the The focus of the programme was to
use of upcycled materials, and urge the Rajasthan government to
the harnessing of research adopt ‘agriculture export’ as a business
data for the betterment of the opportunity for boosting livelihood
industry. Participants receive and farmers’ income. The aim of the programme organised
mentor support from Cargill and through virtual mode was to support the farmers, agriculture
Ecolab executives and access to students and other stakeholders in the export-oriented supply
the companies’ market expertise chain which generate rural employment. During the programme,
and global connections. The APEDA officials explained issues around agricultural exports
Techstars network of successful and challenges in the export-oriented agri supply chain. The
entrepreneurs, mentors, investors programme emphasised the need for automation, mechanisation
and other partners also work with in agriculture for achieving quality products that would enhance
the selected startups throughout competitiveness in the international market.
the accelerator programme.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com C O V E R S TO RY 17

COVER STORY

Startups propel Indian
agri to $25 Bn target

Despite COVID-19, the agri-tech startup sector has remained profitable across
the country. As per the data revealed by the Ministry of Finance in its recently
tabled Economic Survey, India’s agricultural sector has shown to be resilient.
The Agriculture and Allied activities grew 3.4 per cent at constant prices
during 2020-21 (first advance estimate). There are more than 450 agri-tech
startups (figures revealed by the Ministry of Agriculture & Farmers Welfare) in
India across the value chain, leveraging the use of technology and innovation.
India's agri-tech revolution is experiencing an exciting
digital transformation. It intends to expand the use
of emerging technology and innovative solutions
throughout the value chain. Farmers no longer
need to go anyplace because everything is
available from the comfort of their own home
via a smartphone app. This is the new face
of agriculture in India. With wider-than-ever
penetration of mobile networks, internet
data plans at economical cost, reliable
transaction systems, and evolving
processes that are linked with real-time
data, and real-time supply and demand
monitoring, Indian agriculture is all set
to grow like never before.

18 C O V E R S TO RY AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

Over the last decade, the educated agri-tech sector. Some of the leading names are
youth have made a beeline for the Gramophone, Agrostar, Dehaat, Cropin and
Indian agriculture sector, armed Ninjacart. Few startups like us nowadays are
with ideas, passion and innovations offering full-stack technology solutions to the
to unleash new technology and business models. farmers, and are developing plus redefining
This renewed interest evinced by the youth has market linkages. Right from making agronomy
transformed Indian agriculture from primitive intelligence accessible in farmer’s language,
to hi-tech. Startups are providing missing links taking Agri-input commerce to farmer’s doorstep,
in the agri value chain and delivering efficient allowing farmers to connect with others via
products, technologies and services to the social features to establishing digital output
farmers on the one hand and the consumers marketplace.”
on the other. Innovations and technology-
driven startups are set to revolutionise the Gramaphone is an Indore-based startup that
food and agriculture sector. From Information provides farm advisory services, and inputs like
and Communication Technology (ICT) apps to seeds and marketing support to farmers. This
farm automation and from weather forecasting venture was started by IIT and IIM graduates
to drone use and from inputs retailing and Tauseef Ahmad Khan, Nishant Vats Mahatre,
equipment renting to online vegetable marketing; Harshit Gupta and Ashish Rajan Singh.
and from smart poultry and dairy ventures Currently, the company is rendering its services
to smart agriculture, protected cultivation to to the state of Madhya Pradesh and Rajasthan.
innovative food processing and packaging, all are It has tied up with Godrej Agrovet and Dhanuka
poised to boost the agriculture sector. on the crop protection side and with Rashi and
Nunheims for seeds.
Elaborating on the rise of agri-tech companies
in India, Nishant Mahatre, Co-founder & COO, Agreeing to Mahatre’s views, Rajeev Jha,
Gramophone said, “The reality is that agri- Founder, Yuktix Technologies said, “Indian
demand in India has grown considerably more agri-tech market potential is close to $25 billion
than supply, and to solve Indian agriculture with just 1-2 per cent penetration. There are
problems use of technology solutions has become close to 450 agri-tech startups as per NASSCOM.
inevitable. Traditional solutions are no longer With Government of India’s vision to double the
effective, and farmers have been struggling to farmers’ income, there is a huge scope of many
earn more for a long time now. Post 2015-16 more agri-tech startups across the agriculture
Indian agriculture has seen the entrance of many value chain, namely, pre-harvest, post harvest
startups which started with the goal to solve the and processing.
problems in Indian agriculture with the help of
modern technology.” Yuktix is a Bangalore-based Department
of Industrial Promotion and Policy (DIPP)
He further said “Today more than 450 recognised startup and a registered MSME
startups have been operational in the Indian working to create indigenous remote monitoring
and sensor analytic solutions. Yuktix GidaBits

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com C O V E R S TO RY 19

is a next generation agri intelligence platform  Upstream marketplace model – Agrostar,
powered by Internet of Things (IoT) and Artificial BigHaat, Agrevolution, Agronxt,
Intelligence (AI) to provide farm level disease Ninjacart, Agrihub and FarmGuru are
and insect forecast to growers. This is backed the main players employing this model
by advance irrigation advisory, package of
practice, soil testing, and agronomist advisory.  Downstream ‘farm-to-fork’ supply
The best part is that farmers don’t have to do chain model – Krishi Star, Crofarm,
upfront payment to avail the service. It’s purely Sabziwala and BharatBazar are working
'pay-as-you-go' mode. They just need to call the towards increasing efficiencies using this
company's support department and the firm mechanism
will install the device and commence sending
advisories to them.  Farming-as-a-service model – Far Mart,
EM3 Agri Services, RAVGO and Oxen are
Impact of COVID-19 players offering farm equipment rentals
to ease the burden of capital investments
Amid the ongoing COVID-19 situation, the for farmers
Government of India (GoI) has been proactively
supporting the agri-tech startup sector. The  IoT or Big Data-led innovation model
Department of Science and Technology, GoI, had – FlyBird, Cropin and Exabit Systems
organised a food and agri-business accelerator are deploying smart technology to assist
in association with Association for Innovation farmers gain access to timely information
Development of Entrepreneurship in Agriculture and drive productivity
(a-IDEA), a Technology Business Incubator (TBI)
of the National Academy of Agricultural Research  Engineering led-innovation model –
Management (ICAR-NAARM). The focus area of Kheyti, Drip, Kamal Kisan and Nanopix
this programme was accelerating agri-business are players driving innovative solutions
startups by providing mentoring, industry in this space
network and investor pitching guidance.
“Despite a lot of businesses facing a hostile
As reported by the India Brand Equity situation and finding it very difficult to survive in
Foundation (IBEF), a wing of the Department of the market, the agri-tech startup sector is getting
Commerce, Ministry of Commerce and Industry, strong support from its investors. The investment
Government of India, the government is also scenario is favourable and is inclined towards
planning to grant Rs 2,000 crore ($ 270 million) the potential agri-tech startups. Our expectations
for computerisation of the Primary Agricultural from investors are to invest for growth. We are
Credit Society (PACS), with the primary aim looking for partners who help us expand and
of benefitting cooperatives through the digital grow exponentially,” informed Arvind Godara-
technology. All these steps have been taken as the Founder, AgriBolo.
COVID-19 has taught one rule to the entire world
that digitisation in any business is the key for its AgriBolo provides an umbrella of services
future. Apart from that, the government is also under a single roof as per season, relevance,
witnessing strong potential revenue output in this supply and time. Also, an opportunity to partner
sector and also its implementation will enhance along a business solution is available on the
the agriculture produce as well which is the need AgriBolo platform which empowers towards rural
of the hour. and social empowerment. The company also
takes care of last-mile connectivity and delivers
“All the businesses were impacted by inputs and procures outputs from farm gates. The
COVID-19 but agriculture was comparatively less Mumbai based startup is currently working with
impacted and agriculture will see tremendous over 2.5 lakh farmers.
growth. The demand was never down and it
was always on the higher side. In fact, India is Farmers are not afraid of transacting online
expected to have highest ever horticulture and now, which is a great advancement and COVID
floriculture production.VC firms have started has pushed this behaviour much faster than it
treating agriculture as a mainstream vertical was expected. They have been adopting digital
which otherwise earlier was neglected,” said Jha. channels to purchase agri-input products,
accessing farming knowledge on farming apps

20 C O V E R S TO RY AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

like Gramophone, Ninjakart, Agribolo, video The reality is that agri demand
portals like YouTube, leading to stronger digital in India has grown considerably
connect between brands and farmers. more than supply, and to solve
Indian agriculture problems,
“We have been very aggressively focusing use of technology solutions has
on connecting with farmers digitally and post become inevitable. Traditional
COVID-19, we experienced the adaptation of solutions are no longer
digital channels has also grown exponentially. effective, and farmers have
Our focus has been to engage with farmers via been struggling to earn more
our App, Social Media Channels, SMS, using for a long time now. Post 2015-
features such as Facebook Live, YouTube Live, 16, many startups have sprung up in the Indian
Live Classes etc. to connect on a real time basis,” agriculture scene to solve the problems in Indian
said Mahatre. In contrast to other industries, the agriculture by leveraging modern technology”.
agricultural sector is showing a distinct V-shaped
recovery, as farmers are more willing to accept Nishant Mahatre,
new technology and techniques to keep their Co-founder & COO, Gramophone
farming cycle running. Arindom Datta, Executive
Director, Rural & Development Banking/ “While all businesses were
Advisory, Rabobank said that COVID-19 has impacted by COVID-19,
positive impact on the agri-tech startup sector. agriculture was largely
The way people are showing their interest in unaffected and is poised
these budding tech companies is commendable. for tremendous growth. The
demand was never down and
“The kind of interest that India agri- it always remained on the
tech startups have generated is something higher side. In fact, India is
unprecedented and this is mainly because expected to have the highest
these tech firms are addressing some of the real ever horticulture and floriculture
problems faced by the farmers in their daily production. VC firms have started treating
agricultural operations. The ability of technology agriculture as a mainstream vertical which,
to link farmers and markets on both sides and otherwise, was neglected earlier”.
make a very efficient connection along with other - Rajeev Jha, Founder, Yuktix Technologies
players, like the financial institutions, the input
players, advisory infrastructure that is leading to contrary to other sectors, India’s agri-tech startup
a huge interest,” said Datta. sector is gaining a lot of trust from the investors.
The COVID pandemic which led to nationwide
“COVID-19 has also demonstrated that lockdown, posed challenges for agri-tech startups
agriculture is a key sector. People need to eat, especially in ground operations like every other
food needs to be grown then it needs to be moved. industry. This has slowed down the growth
At this point of time, last year, the tech companies against the expectations, but it also propelled
played a very significant role. My call is that the many positive changes for the industry. To revive
Indian agri-tech sector is going to go northwards. the growth, it’s crucial to ride on positives which
It's going to attract a lot of funding. There's have been brought by this lockdown.
already so much interest and by the end of this
year, in the last quarter, in the first quarter of next Like every other sector, Indian agriculture is
year, we are going to see some mega deals in the experiencing exciting advancements as a result of
market on the investment,” he added further. the technology solutions introduced by new age
startups, and farmers' rapid digital adaptation,
Gaining investors’ confidence which has been accelerated further, by COVID
lockdown.
It has been more than one year since the
entire country went into the shell because of “Agritech has come into the mainstream.
the outbreak of pandemic. Many investors who In 2020, India received investments worth $
were earlier actively investing in the country’s 329 million from PE/VC firms and registered
startup sector are now plugged off from the sector a staggering CAGR of around 53 per cent from
because of the fear of losing their investment 2017 ($ 91 million) to 2020 ($ 329 million),”
as the market situation is very volatile. On the informed Jha.

“From an investor perspective, there are
different investors who put on different lenses,
depending on their strategy. Investment thesis,

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com C O V E R S TO RY 21

from a RaboBank perspective, in India, we have “Despite a lot of businesses
done only one investment and we may look at facing a hostile situation
more. But we are looking at strategic investment and finding it very difficult to
where it helps to bring in efficiencies in the food survive in the market, the agri-
and agri business sector. Secondly, we are very tech startup sector is getting
interested in the access to finance problem of strong support from investors.
technologies which are addressing the access to The investment scenario is
finance issues not only for the smaller farmers, favourable and is inclined
but also for the supplier side,” said Datta. towards the potential agri-tech
startups. Our expectations from
As per data shared by IBEF, India’s agri-tech investors are to invest for growth. We are looking
startups have been growing at 25 per cent year-on- for partners who help us expand and grow
year. The startups have raised more than Rs 1,840 exponentially”.
crore ($250 million) in venture funding in 2019. - Arvind Godara, Founder, AgriBolo
This was three times the amount of funding raised
in 2018. The sector is forecast to attract more than “The kind of interest that
Rs 3,680 crore ($500 million) in the next few Indian agri-tech startups
years. Aavishkaar, Accel, Ankur Capital, Beenext have generated is something
and Omnivore were early investors in the sector. unprecedented. This is mainly
More recently, the sector witnessed funds such because these tech firms are
as Blume, Nexus, Sequoia, Tiger Global and RTP addressing some of the real
investing in the sector. In 2020, more than 20 problems faced by the farmers
agri-tech startups have cumulatively raised more in their daily agricultural
than Rs 920 crore ($125 million) across equity, operations. The ability of
venture debt and conventional debt rounds. technology to link farmers and
markets on both sides and in making a very
Roadblocks efficient connection with other players, like the
financial institutions, input players, and advisory
Despite favourable conditions and strong infrastructure is generating huge interest”.
government support, the agri-tech startup sector - Arindom Datta, Executive Director, Rural &
still has some loose ends. Many agri-tech firms Development Banking/Advisory, Rabobank
are grappling with their own set of issues. These
problems include the overall structure of their along the value chain.
business model which is holding them from Pointing out another loose end, Jahi said,
scaling up, expertise on the subject, not being
able to convince farmers to opt for their model, “Investment is one of the biggest hurdles. In
gaps in supply chain management, connectivity order to develop new technologies and make
issues and many such hurdles. them available at a price point that is economical
to farmers, they need a lot of investment in R&D
“The major hurdles which block the growth and manufacturing. Distribution will also remain
of an agri-tech startup sector include limited a big challenge in agriculture.”
traceability as well as operational visibility along
the crop cycle. The input companies face the Vishnu B, an analyst of GlobalData PlC,
issue of low visibility on the marketing activities, Hyderabad stated that many of the existing
inefficient operations and much more. Also, there agri-enterprises, despite tasting initial success,
is a lack of a centralised agri data database. So it are facing difficulties to expand their businesses
becomes necessary for the Agri-tech startups like beyond a point because of lack of commercial
us to knit the gap and pave a transparent way. In guidance. Such support is normally provided to
the supply chain, the digital model minimises the the startups by the project incubators by helping
losses across the value chain,” said Godara. them in capacity building, networking, accessing
knowledge and resources, and other kinds of
Farming companies are impacted by needed expertise. But, regrettably, not many
limited traceability and visibility. Agri input of the existing 300-odd incubators and their
companies still struggle with inefficient field force advanced version called accelerators have the
management and operations along with lack expertise and competence to guide the farm-
of centralised database that causes huge losses oriented enterprises.

Nitin Konde

22 O P P O RT U N I T I E S AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

Emerging innovation for
sustainable farming

HEMENDRA entrepreneurs is working towards improving
MATHUR, farmer access to markets, quality inputs,
institutional credit, and insurance. Consumers
Venture Partner, also benefit in the process with improved access
Bharat Innovation Fund to safe, nutritious and affordable food. Industry
and government gain with access to reliable,
Climate risks are more pronounced in timely and accurate data for decision making and
the form of high temperatures, flash policy design for farmer welfare.
floods, delayed / erratic monsoon,
shifting cropping patterns, depletion The agri-tech sector took its root in the last
of the water table, nutrient deficiency decade. However it gained momentum in the
in the soil adversely impacting last three years, driven by entry of high-quality
productivity and farm incomes. To entrepreneurs and increasing investor interest.
mitigate these risks, Indian agriculture There are estimated more than 1000 post-POC
needs to adapt innovations to become (Proof-of-Concept) agri-tech startups in the
sustainable and profitable for farmers. agricultural sector, most of them with a vintage of
There have been several efforts by less than five years.
the central government as well as
some state governments to take agri- Indian agri-tech startups are trying to solve
innovations to farmers. multi-dimensional problems prevalent in Indian
agriculture including low productivity, sub-
There are about 150 million farmers in optimal efficiency in supply chain, and lack
India with the majority of them (more of access to markets, institutional credit, crop
than 85 per cent) owning less than two insurance, quality inputs and market linkages.
hectares of farmland. A farmer with an
average land holding of about one hectare earns Investment scenario
a gross income of about Rs 120,000 to meet his
personal, family and occupational needs. Farmers Investors have pumped in close to $1.5 billion
are often left with a little surplus for productive in upstream agri-tech deals over the last decade
investment into new-age solutions. and the momentum has started to pick up with
over $1 billion invested in the last 36 months. In
As demonstrated by about 1000 plus agri- all probability, agri-tech will continue to attract
tech startups, innovations can go a long way in venture capital in the range of $500 million to
improving farm economics with improved yield, $1 billion on an annual basis in the foreseeable
reduced cost of inputs and empowering farmers future.
to de-risk against commodity price fluctuations,
monsoon failures etc. The growing breed of agri- Sector-agnostic investors are rapidly growing
their participation, signifying the sector's
attractiveness. There are many generalist funds
entering the space including Arkam Ventures,
Sequoia, Mirae Asset, Lightspeed Ventures,
Elevation Capital, Avaana Capital, Prosus
Ventures, ABC World Asia. The sector is also
witnessing a new type of corporate strategic
investments from e-commerce giants such as
Walmart and Alibaba, which see food and grocery
as a critical part of their business. The seed
investments from incubators, angels and micro-
VCs are also picking up.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com O P P O RT U N I T I E S 23

Top 9 emerging innovation opportunities

1. Demand-driven and tech-enabled aggregation for multiple compliances to store and sell agri
and distribution of farm produce from point inputs are some of the bottlenecks to scale.
of collection to consumption (examples: 5. Reduce labour cost through mechanisation
Ninjacart, Jumbotail, Bigbasket, Kamatan, through the pay-per-use model and innovative
Desai Fruits Venture, Farmlink, WayCool, mechanical tools (examples: Sickle innovations,
MeraKisan, Vegrow, Kamatan, DeHaat, Distinct Horizon, Kamal Kisan, Mera Tractor,
ShopKirana, SuperZop, Crofarm, Agribolo, Cellestial Tractors, X-Machines, Tractor Junction,
Kisan Network, Milklane, Fresh to home, Khetibadi, Agrirain, Flybird, Toolsvilla). There is
Licious, Captain Fresh, Numer8, AquaConnect, a huge opportunity in building smart affordable
Mango Dairies, Krishikan, Chlorohemp, multipurpose mechanical tools at one end and
ReshaMandi, Fraazo, Country Delight). on the other end to build high end robotics and
The majority of models are B2B targeted at computer vision models to bring efficiency in
institutional buyers, modern trade, Horeca, doing multiple farm operations.
though direct to consumer models (D2C) are 6. Farmer advisory and data-driven crop
also picking up especially during the pandemic. monitoring/precision farming: Farm advisory
using data collected from the farm on soil, crop
2. Quality assaying of agricultural commodities and weather using AI / ML tools is becoming
through image processing and digitisation mainstream, though monetisation models
of transactional data, price discovery and are still evolving (examples: CropIn, SatSure,
traceability (examples: Intellolabs, Agricxlab, RMSI, Mantle Labs, Stellapps, Krishi Tantra,
qZense, Raav Tech, InfyUlabs, Farmtrace from Poultrymon, AgRisk, Skymet.)
Innoterra, Occipetal, Amvicube, Nanopix, 7. Agrifintech: Data and digitisation is the
TraceX, Source Trace, Atsuya Technologies, precursor to innovative farmer and value chain
Borlaug WebServices, Go4Life). Many of these financing models which typically enables farmer
models are pivoting to become a marketplace. KYC, onboarding, and digital tools for risk
assessment. Many of these models continue to
3. Building near-farm storage, warehouse and be phygital. (Examples: Samunnati, Greensat,
processing units with access to post harvest Agrotech, FarMart, Jai-Kisan, PayAgri, Bijak,
finance and market linkage through digital GrayMatter Technologies)
and physical modes (examples: Our Foods, 8. Controlled environment agriculture using
S4S Technologies, Agri Bazaar, Star Agri, Arya techniques such as vertical farming, hydroponics,
Collateral, Ecozen, Origo, Ergos, Sohan Lal aquaponics (examples: Futurefarms, Urban
Commodites, Promethean, Inficold, Whrrl). Kisaan, Absolute Foods, Kaze Living)
Micro-warehousing and farm-level processing 9. Bioproducts including bio fertilisers, stimulants
is likely to gain momentum with increasing to improve soil nutrition, plant immunity and
demand for value-added foods. growth (examples: Bioprime, Kan Biosys,
Barrix, Converte, EasyKrishi)
4. Optimise the use of agricultural inputs and The innovation themes are at various stages of
enable delivery to farmers based on farm evolution. The market linkage, agri-input e-commerce
and crop diagnostics (examples: Agrostar, and data-centric themes have picked momentum and
BigHaat, Behtar Zindagi, Unnati, Gramophone, scale whereas others are showing green shoots.
Freshokartz, Plantix, Helicrofter, Hesa, EF
Polymer, Frontier Markets, Bharat Rohan,
Bharat Agri). The last-mile delivery and the need

Though corporate venture capital flows from to take these innovations to farmers. In
traditional Indian agri-business have not picked addition, there is an effort made by some of
up, many corporates such as UPL (Nurture.farm) the Foundations and not-for-profit enterprises
and ITC have invested in building their digital to support technologies that positively impact
platforms. Innoterra has developed a full-stack smallholder farmers. All these efforts are a
platform for fruits, vegetables, staples and milk welcome sign; however, a coordinated and
connecting thousands of farmers to consumers. synergistic approach can go a long way to amplify
the positive impact on farm economics. It is time
Policy perspective the government drives the innovation agenda
parallel to other agri reforms to make an impact
There have been several efforts by the central of reforms more productive.
government as well as some state governments

24 C O V I D - 1 9 AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

How COVID-19 unleashed
agri-tech startup industry

SAMEER
BHANUSHALI,

Founder & CEO,
TradeBridge

The pandemic brought about major disruptions across industries. The agricultural
sector was no exception and had to face the brunt of the global pandemic crisis, as
well. However, the coronavirus stepped in as a silver lining for the agri-tech startups and
significantly boosted the agricultural market’s growth. It was only during the COVID-19
times that sector started gaining popularity and has been flourishing ever since.

As per India Brand Equity Foundation Pandemic paves way for agri-tech
(IBEF), more than 50 per cent of
India’s population depends on While on one hand, the GDP contributing
agriculture and the sector contributes sector was facing various roadblocks, the agri-
more than 20 per cent to the national GDP. tech sector witnessed an exponential growth. The
However, agriculture in India does face a fair entire market including farmer platforms, B2B
share of challenges as well. These range from Agri marketplaces, rural FinTech businesses,
inadequate financial assistance, organisation of farm to consumer brands, and app-based Agri
the bodies to operational and supply-demand advisories all boomed during pandemic times.
gaps. However, the introduction of innovations Agri-tech startups that were earlier co-existing
primarily in the form of agri-tech startups have with the traditional agricultural ecosystem soon
rendered a helping hand in resolving these issues emerged to be an essential element of the sector.
and upscaling the agriculture sector altogether.
Realising that India was at the cusp of
With the pandemic coming into the picture, the digital revolution, the startups saw an
food supply chains froze and farmers had to opportunity in the agri-tech market. They
struggle to purchase inputs ahead of the harvest took the leap to leverage this segment and
season. Adding to it, the access to marketplaces hence offered assistance to the crumbling
and mandis was limited and agri-logistics and farmer community amidst the unstable times.
transport systems suffered major setbacks. While The agricultural sector hence shifted from a
the post-harvest loss was humongous, the cost of traditional market to being a digitally advanced
unsold harvest burnt a hole in the pocket of the and tech-savvy space.
farmers to the extent that their major livelihood
was under threat. The industry was at its worst Agri-tech startups treaded on the path
at that time- inefficient and technologically of innovation to come up with personalised
backward! solutions so as to tackle the challenges which the
agricultural sector was facing. They are rendering
a helping hand in educating farmers and bringing

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com C O V I D - 1 9 25

awareness about state-of-the-art agricultural These tech enabled ventures have helped
practices as well as equipment that are cost and farmers improve productivity, get easy access to
time effective and help in yielding high-quality raw materials, avail new-age farming equipment,
crops as well. and have pushed streamlining of supply chain
models as well. Some of these ventures also
IBEF’s recent report highlights that presently offer information about modern agricultural
there are 450 plus startups in the Indian agri- approaches and even train farmers about the
tech space and that Indian ventures are featured emerging technologies, their benefits and
in the ratio of one in nine global companies. application. Be it soil testing, localised weather
They are harnessing the power of new-age information, estimation of soil moisture,
technologies such as AI, IoT, Big Data analytics, irrigation advisory, crop growth analysis, and
and are driving innovations so as to upscale the other related real-time offerings pertaining to
agricultural sector. Via these tech solutions, crop and weather changes, farmers now have
the startup ventures are aiming to ensure every bit of information with reference to farming
transparency and reduce operational efficiencies and crops available at their disposal via the
in the market. The agri-tech ventures are putting assistance of these agri-tech startups.
in their best foot forward so as to transform
India's agricultural landscape and are the pivot in It is due to this technological adoption that
making the segment tech-heavy and digitised! farmers have been able to sell off their produce
directly to their consumers, digitise agriculture
A recent report by Bain & Company points and have access to real-time information. It
out that the agri-tech ecosystem has received has also enabled them in improving the supply-
significant interest from the investor community demand chain along with having access to new-
over the period of time. It also shares that India age tools to enhance the yields as well.
is the third-largest country garnering attraction
from investors and remarkable funding. The Blessing in disguise
report also states that Indian agri-tech startups
received funding of $1 billion from 2017 to 2020 Technology has emerged to be the backbone
and that the sector is poised for an exponential of the sector in India. Almost every sector is
growth. It further enlists that the Indian agri- reliant on advanced tech solutions to continue
tech market is projected to be valued at $30-35 their operations, sustain their survival and
billion by the end of 2025. These statistics depict growth and upscale their businesses. We are
that the agricultural sector will be increasingly presently in the fourth industrial revolution stage
leveraging the power of technology to set up where various sectors will be benefitted from
agri-tech platforms in the times ahead. They also new-age tech solutions. The agricultural industry
exhibit that this unprecedented growth of the is indeed one of them.
agri-tech space has been driving the acceptance
and inculcation of state-of-the-art technologies in While the pandemic has severely impacted
the agricultural industry. the agricultural industry, it paved the way for the
digital transformation of the sector and led to the
Upscaling agri market emergence of agri-tech startups like TradeBridge.
These ventures have been doing their bit by
The Indian agriculture sector has indeed easing out the burden on the farmers, helping
witnessed a remarkable growth over the years them to sell their products across India and earn
and technology has contributed significantly profit, all thanks to these advanced technologies
in transforming the overall landscape of the that the agricultural market is treading on
segment in the country. The tech-led startups in the sustainable route and will undergo major
the sector have enabled the setting up of e-mandi disruptions in the times ahead. These tech-
applications on the mobile phones. Consequently, enabled startups have stepped in a blessing in
the farmers are able to reach the masses to sell disguise for the Indian agricultural market. They
their produce in the online space via these apps. have helped farmers sustain their livelihood and
While some of the applications offer a space for have pushed the sector to grow and proliferate.
farmers to list and sell their products, others With their present progressive landscape, it
also provide transportation facilities so that their is highly likely that agri-tech startup market’s
harvest can reach the consumers. future will indeed be promising.

26 L I V E S TO C K AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

Livestock startups at
threshold of boom

India has the largest livestock population of around 535.78 million, which

translates to around 31 per cent of the world population, as per the report of

India Brand Equity Foundation an arm of Department of Commerce, Ministry

of Commerce and Industry, Government of India. This huge population is

supporting the livestock farmers and also helping them to increase their

productivity by applying innovative and ground-breaking solutions in their farm.

Many startups have emerged recently to assist livestock farmers with innovative

and creative solutions.

As per the Economic Survey 2020-2021, numerous middlemen in the supply chain also
presented by Nirmala Sitharaman, add extra cost and time for shipping the highly
Union Minister for Finance & Corporate perishable food produce from the producer to the
Affairs, the livestock sector grew at a consumer thereby having an impact on quality and
CAGR of 8.24 per cent during 2014-15 to 2018-19. also on price for the consumer.”
As per the estimates of National Accounts Statistics
(NAS) 2020 for sector wise Gross Value Added “Here, tech companies like us, deal directly
of Agriculture and allied sector, the contribution with the livestock farmers, wherein we do
of livestock in total agriculture and allied sector this through a tech-enabled platform called
GVA (at Constant Prices) has increased from 24.32 commodities exchange which allows sellers on
per cent (2014-15) to 28.63 per cent (2018-19). our platform to organise over 1500 fishermen
Livestock sector contributed 4.19 per cent of total and livestock farmers across 125 coasts and
GVA in 2018-19. The report further stated that farms in India and deliver fresh, chemical-free
fish production in India has reached an all-time products to customers’ doorsteps. Similarly, when
high of 14.16 million metric tonnes during 2019- it comes to Fresh To Home Daily in agriculture,
20. Further, the Gross Value Added (GVA) by the we have tied up with over 1200 farmers in and
Fisheries sector to the national economy stood around Bangalore, sourcing directly and ensuring
at Rs 2,12,915 crore constituting 1.24 per cent of the better realisation of the farmer’s effort and
the total national GVA and 7.28 per cent of the additionally upholding our vision of delivering
agricultural GVA. 100 per cent fresh produce to our customers,
immediately within 15-18 hours of harvest through
Aforementioned stats and figures clearly FTH Daily,” Kadavil added.
suggest that there is a lot of potential in the
country's livestock sector and to capitalise on Initially, this ecosystem was weak, but now
this pool of opportunities, many startups have there are numerous companies that are directly
joined hands with livestock farmers. Providing working with the farmers and reaching out to the
innovative and creative solutions, these companies customers directly by eliminating the middlemen.
are not only helping the farmers to increase their The introduction of technology has also made
income and output but they are also bringing a it easy to track availability, stock prediction,
lot of transparency in the trade, hence ending the inventory control, etc., leading to the utilisation
middleman culture. of Artificial Intelligence, etc., sharing insights on
customer preference.
Elaborating further on the issue, Shan Kadavil,
Co-Founder and CEO, FreshToHome said, “Most Drawing the line on the current business pulse
of the agriculture segments are controlled by of this sector, Nishanth Chandran, Founder &
middlemen who are glorified money lenders and CEO, TenderCuts said, “The livestock sector is
often exploit the producers. Additionally, the one of the most underpenetrated sectors in terms
of technology growth and innovation. Startups

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com L I V E S TO C K 27

are known to constantly innovate the scale and “Most of the agriculture
demand. With these capabilities, the livestock segments are controlled by
sector is bound to grow in leaps. Another boon for middlemen who are glorified
the industry would be the growing consumption money lenders and often exploit
and need for protein in every meal which will have the producers. Additionally, the
a direct impact on the growth.” numerous middlemen in the
supply chain also add extra cost
Innovative solutions and time for shipping the highly
perishable food produce from
The output of the livestock farming sector is the producer to the consumer
highly perishable so a slightest delay can cause thereby having an impact on quality and also on
major losses to the farmers. So many startups price for the consumer.”
have developed a system to reduce or minimise
these losses through their innovative solutions. Shan Kadavil,
“TenderCuts is the first and the only Tech-driven, Co-Founder and CEO, FreshToHome
omni-channel meat and seafood brand in India.
In the online space, what makes the company “Logistics is always a challenge
different from its competitors is the use of in any industry. Hence, we have
technology and its apt application into ordering tied with companies (apps)
and delivering. All the orders - both for retail and that only focus on, on-time
online are freshly cut and freshly packed from morning deliveries. Firms such
the nearby stores and delivered within 1-2 hours as Daily Ninja, Doodhwala,
with the help of TenderCuts’ own proprietary Milk Basket, Big Basket and
technology. Brand provides widest range of more are providing high-
products across poultry, mutton, seafood and quality temperature-controlled
marinades with specialised varieties cuts across the logistical units that enable us to
meat and seafood which are typically not available supply high quality produce to our customers”.
in regular butcher shops,” said Chandran. Mehal Kejriwal, Co-Founder, Happy Milk

In order to retain the freshness of these “The livestock sector is one
products, it becomes mandatory for all companies of the most underpenetrated
dealing with livestock products to maintain a sectors in terms of technology
strong cold storage chain. Cold storages are key growth and innovation. Startups
requirements for storage and distribution function are known to constantly
of perishable commodities and food products. It innovate the scale and demand.
facilitates the delivery of perishable agricultural With these capabilities, the
products like fruits, vegetables, meat, fish, poultry, livestock sector is bound to grow
milk and milk-based products from production in leaps. Another boon for the
centres to consumption centres. industry would be the growing
consumption and need for protein in every meal
“Our cold chain is extremely important for the which will have a direct impact on the growth.”
perishable items, as these products can undergo Nishanth Chandran, Founder & CEO, TenderCuts
bacterial infestation very quickly on being exposed
to the external ambient temperature. Therefore, bacterial action. At FreshToHome, the company
at FreshToHome, we have a complete cold chain takes the cold chain very seriously. It also has a
ecosystem guided by sensors that begins at the farmer ecosystem where it provides technological
source of produce followed by the warehouse assistance and financial aid to the farmers. Also, it
where it is hygienically processed and even till it sells at mass-market prices so that the customers
reaches the customer’s doorstep. For example – don’t feel burdened.
chicken and fish are always stored between 0 and 4
degrees so that microbial action is contained,” said Adding a technological spin to the dairy sector,
Kadavil. another startup Happy Milk has transformed the
entire dairy business. The company has imported
Adding further, he stated on contrary to technology from Germany and embedded it into
that, the products showcased at fish and meat its farm and livestock located in the outskirts
shops are kept unhygienically which encourages of Bangalore. “Partnering with one of the best
tech providers, the Germans have lent us their
know-how and ensured our farm is tech-savvy.
Even providing fit bits for cows has been their
contribution. With Israeli technology we are

28 L I V E S TO C K AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

able to provide the best health care facilities and Echoing similar sentiments, Chandran said,
a clean, balanced nutritious diet – which many “The pandemic has made people focus on the
farms do not focus on,” said Mehal Kejriwal, Co- hygiene and quality standards. This led to a
founder, Happy Milk. Working on the similar idea, massive change where people moved from buying
Kochi-based Romeo P Jerard and Sreeshankar S meat at the local wet markets to buying at stores
Nair floated a startup called Brainwired in 2018 like TenderCuts that follow high standards of
which enables the livestock farmers to monitor and hygiene. Immediately after the lockdown, the
track livestock's health. Elaborating further on the demand grew exponentially (300 per cent) towards
concept, Romeo P Jerara said, “We have developed a preference for online orders.”
a system called WeStock that totally works on
Internet of Things (IoT) and Machine Learning The usual woes
algorithm to monitor the health of livestock.
Though already similar products are currently Despite a strong backing by the government
available in the market, most of them are only through their various policies and schemes, there
dedicated to cattle health monitoring. Our system are certain hurdles that are hampering the growth
can be adapted to multiple livestock species down of the livestock startup sector. There are issues
the line. The second USP is it is customisable - the such as lack of availability of adequate cold storage
whole product can be customised to suit individual facilities, licencing issues, shortage of refrigerated
farm requirements, and is a stand-alone system.” transport etc. that need immediate attention.

Pandemic propels e-purchase “Logistics is always a challenge in any industry.
Hence, we have tied with companies (apps) that
The outbreak of COVID-19 has propelled the only focus on, on-time morning deliveries. Firms
online purchase mainly because now the customers such as Daily Ninja, Doodhwala, Milk Basket,
have started laying heavy emphasis on hygiene Big Basket and more are providing high-quality
and cleanliness. This transformation can be clearly temperature-controlled logistical units that
visible on companies’ turnover ratio. TenderCuts enable us to supply high quality produce to our
has now grown to Rs 100 crore and is aiming to customers,” stated Mehal Kejriwal, Co-Founder,
reach Rs 200 crore by end of this year. Happy Milk.

The growth has been increasing by 100 per cent Highlighting another issue, Kadavil stated,
year on year in the past and given the current rate “Inherently the perishable sector has risks
of expansion, TenderCuts is looking at a similar associated with it. For instance, in a poultry farm,
growth chart in the upcoming years. Similar profit if one chicken gets infected, then the entire farm
figures are achieved by FreshToHome which is a Rs gets infected. These are the kind of risks that exist
1500 crore entity now. And with the launch of FTH and only an organised player like us is able to solve
Daily in multiple cities, the company is extremely the problem thanks to the biosecurity and bio-
bullish on the potential and is currently operating fencing protocols that we follow while enabling
in Hyderabad, Pune and Bengaluru. It is further poultry farming. On the government front, though
planning to launch in Chennai, Mumbai shortly. a lot of support and encouragement has been
shown by the government especially in the areas
“COVID-19 transformed the fish and meat of livestock production and fisheries, a key area
purchasing behaviour of consumers dramatically, where we need more government support is in
accelerating the digital commerce ecosystem. Due implementing cold chains for perishables. For a
to safety concerns, consumers made the habit- country of our size, we are woefully inadequate in
forming shift to e-commerce and we saw online terms of cold chain infrastructure.”
demand for our products going up manifold this
year thanks to a safety guarantee of ‘100 per cent Emphasising the need for more governmental
Fresh and 0 per cent Chemicals’. While the entire support on specific areas, Chandran added
category has benefited, FreshToHome's unique that when entrepreneurs are starting their new
brand assurance and our ability to directly source businesses, there is a lot of difficulty and a waiting
from the fishermen and farmers with our patent- period to obtain certain licenses from local and
pending AI-powered supply chain technology is a corporation authorities. The government should
key reason why we have seen larger growth in this work on this and make these processes easier and
category during COVID,” added Kadavil. quicker to execute.

Nitin Konde

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com S U P P LY C H A I N 29

How agri-tech startups are
strengthening supply chain

The agri-tech startups in India are playing a vital role in the agriculture supply
chain with the help of the latest technologies such as Artificial Intelligence (AI)
and Machine Learning (ML) and investments from international investors. Agri-
tech startups are currently operating in B2B, B2B2C, B2C and export markets.
They are primarily contributing to the supply chains of agri-inputs, dairy, poultry,
the development of agri-commodity value chains, establishing the supply
chain ecosystems for horticulture produce and providing quality-driven trade
transactions across the food value chains. Considering the current growth of
agri-tech startups in the supply chain, startups will expand their reach in the
international market by 2025.

The lockdowns due to the COVID-19 fragmented supply chains continue to dominate
and the uncertainties and a shutdown India’s Ag-Tech landscape, accounting for 85 per
of the age-old business module paved cent of the total investment and two-thirds of
the way for online mandis and a host first-time deals in 2020. There are also a growing
of e-commerce platters at every level. Agri-tech variety of models in the sub-sector, particularly -
startups are swiftly shaping the agriculture agribusiness marketplaces for output in addition
supply chain for a tech-led more progressive to consumer-proximate ones and emergence of
future. There is a whole new paradigm shift novel solutions for allied sector (dairy, poultry
from traditional and analogue markets to highly etc.) supply chains. India’s agri-tech startups
interactive, and innovative online marketplaces. received $136.46 million in funding in 2020,
compared to $244.6 million in 2019. Many
According to ThinkAg’s ‘Ag-Tech in India: agri-tech startups are expanding their reach at
Investment Landscape Report 2021’, digitalisation international and domestic markets by raising
and optimisation of India’s numerous and

30 S U P P LY C H A I N AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

funds from major investors such as Omnivore, New logistics services
Ankur Capital, Nabventures, Kalaari Capital, etc.
The agri-tech B2B marketplace Bijak that
Investment in agri-tech startups connects sellers and buyers PAN India has
launched logistics services in Maharashtra
Recently, agri-tech startup AgNext and Uttar Pradesh with an aim to provide easy
Technologies has raised a total of $21 million in trading of commodities across the country.
Series A funding. The round was led by Alpha The agri-traders of these states can avail of this
Wave Incubation (AWI) fund. With this new service directly through the Bijak application
capital infusion, AgNext will now enter newer for interstate and intrastate trading. The service
commodities, strengthen its pan-India presence ensures affordable and timely dispatch of the
and expand to international markets such as the commodities. With the launch of its new service,
Middle East, Europe, and South Asia. The funds Bijak aims to target 25,000 traders in Uttar
will also be used for the development of its tech Pradesh and Maharashtra. Bijak is currently
platform Qualix, to enable quality-driven trade present in 27 states and 916 regions and trades
transactions across the food value chains. over 110 commodities through its platform. The
motive of Bijak is to bring flexibility, convenience,
Agri-tech startup Vegrow has raised $13 cost-effectiveness and market linkages to all
million from investors including Lightspeed sellers and buyers in the agri supply chain.
Venture Partners and Elevation Capital to invest Aligning to the company’s vision, Bijak has taken
in technology, new products and expansion in a step forward to facilitate transparent trading
100 cities. It is a B2B platform for fruits and and offer services such as credit, payments/
vegetables. Vegrow has scaled rapidly among escrow, and logistics.
both farmers and B2B customers, resulting in
nearly 20 times top-line growth with a presence In order to reduce the carbon footprint of
in over 30 cities. Vegrow technology platform its logistics operations and achieve sustainable
powers everything from farm discovery, produce growth, VegEase, the cart-at-home e-grocery
quality profiling, and market intelligence to smart startup has begun to deploy Electric Vehicles
matchmaking between farm-level inventory and (EV) in its last-mile logistics. The company has
customer requirements. just completed an initial pilot in August 2021 and
will move completely to an electric fleet by 2024.
Chennai-based agri-tech startup WayCool Towards achieving this, VegEase has partnered
Foods has recently announced that it will be with electric vehicle OEM, OBA for their three-
investing $5 million in Siddhi Vinayak Agri wheeler eVikas light commercial vehicles
Processing (SV Agri), one of India’s largest fully under a long term leasing model. The move will
integrated players in the potato supply chain contribute to an operating cost reduction of 25
ecosystem. WayCool Foods is India’s largest per cent. VegEase will add three-wheeler loaders
and fastest-growing agri-commerce company with Li-Ion battery which have a load capacity of
focussed on food development and distribution. 300 kgs.
The current investment will allow both WayCool
and SV Agri to leverage their strong supply chain According to Anand Chandra, Co-Founder,
ecosystems and boost the quality and supply Arya Collateral, “Agri-techs are already playing
of potato seed, storage and processing across a crucial role in strengthening distribution
India. WayCool has also announced an aggressive channels and digitising the value chains.
growth plan entailing over $100 million Emerging technologies can be a game-changer
investment in technology, product development, in building a strong logistics foundation to
facility expansion and new company acquisitions enhance traceability and ensure proper mapping
over the next four years. of supply with demand. With improved logistics
and distribution channels we can help farmers in
Hyper-fragmentation in Indian agriculture, India access markets and consumers anywhere
the need for locally specific solutions and the across the world with home-grown produce while
plug and play nature of some high-tech solutions promoting ethnic food chains. Tech can also
are some of the driving factors behind Indian play a role in the standardisation of the grades
agri-tech startups chosen paths to scale. Startups of commodities which will make markets more
are playing a vital role in the logistics of the agri- vibrant."
commodities.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com S U P P LY C H A I N 31

Artificial Intelligence (AI) powered Internet “Agri-techs are already playing
of Things (IoT)-Software as a service (SaaS) a crucial role in strengthening
platforms have become the buzzword in distribution channels and
capturing real-time data on growing conditions digitising the value chains.
from on-farm sensors and delivers farm-specific, Emerging technologies can be
crop-specific actionable advisories to farmers a game-changer in building a
via mobile in vernacular languages. agri-tech strong logistics foundation to
startups in the supply chain are making a enhance traceability and ensure
difference by promoting digital platforms. proper mapping of supply
with demand. With improved
Digitising supply chain logistics and distribution channels we can help
farmers in India access markets and consumers
In recent agri-tech startup AgriBazaar anywhere across the world with home-grown
partnered with the Government of India to build produce while promoting ethnic food chains.
and promote the Digital Agriculture Platform Tech can also play a role in the standardisation
(DAP). Narendra Singh Tomar, Union Minister of the grades of commodities which will make
for Agriculture, Amit Mundawala, MD & Co- markets more vibrant."
founder, Agribazaar signed an MoU to launch the - Anand Chandra, Co-Founder, Arya Collateral
initiative.
“As the pandemic gave birth to
DAP will enable and empower the Indian new beginnings, the agri-tech
farmer to approach farming in an integrated industry too got its share fully
manner, with a single source enabling agri- loaded with ground-breaking
tech platform. As a part of this collaboration, firsts. The use of AI and IoT
AgriBazaar will leverage its technological emerged as perfect solutions to
capabilities to create standardised, verified data worst-hit segments like logistics
for Agristack, profile agricultural land, develop and supply chain management.
a generalised advisory platform, enable access Enterprising agri-tech
to an integrated farmer marketplace for the companies responded promptly
broader stakeholder ecosystem and facilitate and embraced innovative ways to support
better access to financial services for farmers. and empower farmers to safeguard crops and
The Union Ministry of Agriculture will provide harvest from total loss. In return, agri economy
sourcing assistance, resources, information, breathed a new life and also gave farmers the
data sets and cooperation from local authorities/ much-needed confidence.”
state governments/government institutions. The - Arpit Katta, CMO & Co-Founder, VegEase
initiative will play a vital role in supporting the
farming ecosystem by maximising productivity Speaking on the role of startups during the
and contributing to double farmer income by pandemic, Arpit Katta, CMO & Co-Founder,
2022. VegEase said, “As the pandemic gave birth to
new beginnings, the agri-tech industry too got its
The agri-tech startups in India are playing a share fully loaded with ground-breaking firsts.
vital role in the agriculture supply chain with the Among a host of them, one initiative is standing
help of the latest technologies such as ML and head and shoulders above the rest. The use of AI
AI and investments from international investors. and IoT emerged as perfect solutions to worst-
Agri-tech startups are currently operating in hit segments like logistics and supply chain
B2B, B2B2C, B2C and export markets. They management. The traditional distribution system
are primarily contributing to the supply chains collapsed and technically it was totally incapable
of agri-inputs, dairy, poultry, the development of adapting to the new normal. Enterprising
of agri-commodity value chains, establishing agri-tech companies responded promptly and
supply chain ecosystems for horticulture produce embraced innovative ways to support and
and providing quality-driven trade transactions empower farmers to safeguard crops and harvest
across the food value chains. Considering the from total loss. In return, agri economy breathed
current growth of agri-tech startups in the supply a new life and also gave farmers the much-
chain, startups will expand their reach in the needed confidence.”
international market by 2025.
Dipti Barve
[email protected]

32 S P E A K I N G W I T H AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

“Our investment strategy
hinges on improving
agricultural sustainability &
smallholder profitability”

JINESH SHAH, startup activity due to rapid advancement in
underlying technologies. Rural smartphone
Managing Partner, penetration and mobile internet has provided
Omnivore the digital backbone to scale both business-
to-farmer (B2F) and business-to-business-to-
As a ‘financial first’ impact investor farmer (B2B2F) models. An increasing number
Omnivore is geared to deliver market- of farmers are now able to improve their yields,
rate venture capital returns while lower their operating costs, and ensure their
making a difference in the lives of products get the right market value. There is an
Indian smallholder farmers and rural increased focus on improving market linkages
communities. Based in India, Omnivore for the farmers, which is helping farmers
is an impact venture capital firm that receive a better income for their produce.
funds entrepreneurs building the future Further, allied sectors such as horticulture and
of agriculture and food systems. The dairy are seeing movement from unorganised
firm pioneered agritech investing in to organised play, which in turn, is helping
India, backing over 25 startups since farmers get better business. Today, there is
2011, and currently manages Rs 9.35 increased communication between producers
billion (approximately $132 million) and customers, which is helping the farmers
across two funds. Jinesh Shah, tweak his/her production efforts. This positive
Managing Partner, Omnivore shares phenomenon has led to the evolution of a
his views with AgroSpectrum on supportive agritech ecosystem with participation
investments in agritech startups and from accelerators, strategic corporate
the future of agri-fintech startups in involvement, and VCs at every stage.
India. Edited excerpts;
How is Omnivore contributing to the
What is the status of agritech startup growth of agritech startups in India?
investment in India?
Omnivore pioneered agritech startup
There has been a remarkable surge in agritech investing in India and is the only impact investor
in South Asia focused exclusively on agriculture
and food systems. To date, we have backed over
30 startups, and currently have Rs 9.35 billion
(approximately $135 million) under management
across two funds.

Omnivore invests in Indian startups developing
breakthrough technologies for agriculture, food,
climate resilience, and the rural economy. Our
investment thesis focuses on six core agritech
themes: Farmer Platforms and Fintech, Precision
Agriculture, Agri B2B Marketplaces, Farm to

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com S P E A K I N G W I T H 33

Consumer (F2C) Brands, Agrifood Life Sciences, investment strategy and deal volume remain
and Post-Harvest Technologies. Furthermore, unfettered by the pandemic. We saw a 130 per
our investment strategy hinges on our Theory cent increase in capital deployment in 2020
of Change (ToC), made up of four pillars. These compared to 2019.
include improving smallholder profitability,
enhancing smallholder resilience, and improving Investors in the agritech sector leaned
agricultural sustainability. The recent addition towards backing proven business
of the fourth pillar, catalysing climate action, models and chose to boost existing
highlights our commitment to prioritising portfolio investments to tide over
innovations focused on combating climate change challenges posed by the pandemic.
in Indian agriculture. For any new investment that In such a situation how would you
we undertake, we look for strong alignment with foresee agritech startups in India?
one or more of our ToC pillars.
The lockdown provided the agritech startups
What are your plans and strategies for across all stages of growth the unintended
FY 2021-22? opportunity to show farmers, traders and
retailers a different way of doing business.
Omnivore will continue to actively make new While traditional markets will continue to exist,
investments in the focused areas of agriculture a ’habit-shift’ in the agri community is clearly
and work towards the improvement of farmers underway which will usher in more investments
and farming via our theory of change. Besides, in this sector.
we will continue to support our existing portfolio
companies in their onward growth journey. The Indian agritech ecosystem is focusing
on addressing core problems and has to do little
Besides, we intend to start the fundraising to create demand. The sector has a significant
exercise for Omnivore Fund 3 in the next couple amount of inefficiencies and as a result, we do not
of months and bring additional capital to support have to create user awareness via marketing. It
the Indian agritech and the smallholder farmers. is an essential sector, and most agritech startups
are working towards creating sustainable
Did the pandemic impact investment business models.
in the agritech startup ecosystem?
Currently, many leading agri-fintech
While agriculture was not directly affected by startups are helping farmers through
the COVID-19 containment policies of 2020 and Artificial Intelligence (AI) and Machine
2021, it would be wrong to say that it was entirely learning (ML). How do you envision
unaffected. A lockdown on the movement of the future of agri-fintech startups in
labour, and constraints on downstream activities India?
like logistics, distribution, and consumption,
did impact the sector as a whole to some extent. The future of agri-fintech startups in India
Indian agriculture ultimately proved to be very is very bright. We are home to approximately
resilient. However, we assess that the second 130 million smallholder farmers and a majority
wave had more stress on the agri ecosystem in of them are often locked out of formal financial
comparison to the first wave. services due to hurdles within the existing
system. Technology is creating a sturdy and
As a Venture Capitalist focused purely on reliable alternative lending system. It is not only
agritech, Omnivore did not see major turbulence bringing in more ‘new to credit individuals’, but
in the sector or the startup deal flow emerging also achieving effective financial inclusion.
from it. Challenges relating to how deals were
done, how negotiations took place, and how However, we believe that agri-fintech has
investors and entrepreneurs built comfort to be part of integrated solutions to improve
with each other, were quickly overcome as all the value chain rather than being a stand-alone
stakeholders embraced the new normal. The service. Farmers face various problems and
startup investment space, as a whole, saw some unless one solves them together, it will fail to add
initial fluctuations in valuation expectations value to farmers’ lives.
and departures from the norm when it came to
deal terms. This has since been corrected. Our Dipti Barve

[email protected]

34 S P E A K I N G W I T H AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

"R&D in India-specific tech
must be emphasised"

TARANJEET value, adulteration and increase in value chain
SINGH BHAMRA, inefficiencies. To curb these issues and to bring
about a more structured and formal channel of
CEO and Founder, commodity testing, the company came into being
AgNext Technologies by offering a ‘New-age Technology’ platform
for sustainable agriculture. Using Artificial
AgNext Technologies is a leading agritech Intelligence (AI)-enabled quality assessment
startup that provides deep-tech enabled technologies, the company helps in solving quality
solutions for food quality assessment, issues and enables more trust and transparency in
monitoring, and management. The the food value chains.
company has innovated full-stack
solutions, based on a unique integration With the help of pioneering solutions using
of adaptive hardware, integrated software, artificial intelligence, computer vision and Internet
and data analytics, which aim to solve of Things (IoT), AgNext is changing the approach
quality-related issues in the post-harvest of agribusinesses towards procurement, trade,
agriculture value chain. By developing the production and consumption of commodities. The
world's first technologies for standardising technology provides accurate and instant quality
food quality using AI, it is bringing trust, analysis of various commodities like milk, tea,
speed, and transparency to the agriculture grains, spices and more. It also provides instant
value chain. Recently, the company raised a on-field quality assessment, digital records, and
total of $21 million in Series A funding from real time data of quality during procurement,
Alpha Wave Incubation (AWI) fund, which transit and storage, along with traceability through
is backed by DisruptAD and managed by all stages of the supply chain.
Falcon Edge. Taranjeet Singh Bhamra,
CEO and Founder, AgNext Technologies What is the focus of AgNext’s tech
shares his views with AgroSpectrum on innovation for agribusinesses?
how agritech startups are solving issues of
agriculture value chains. Edited excerpts; The company’s mission is to solve quality issues
and enable more transparent processes in the food
What’s AgNext's contribution in value chains. Through its technology, it is focused
ensuring food quality and safety in the on eliminating the scope of adulteration and
agricultural value chain? deterioration of commodities. AgNext is providing
agribusinesses integrated technology solutions that
With billions worth of agriculture stock analyses the produce and ensures that the food
being wasted every year due to unsatisfactory products meet a certain safety and quality standard
quality of the food, the agriculture industry for good quality production and profit across value
faces major trading losses, deterioration in food chains.

The company has created a disruptive
technology suite called ‘Qualix’.How
will it mitigate the issues of commodity
trade in agribusinesses?

Qualix is our full stack platform that can
be used to solve the problem of food quality,
accelerate food trade and improve efficiency.
Qualix can be used to assess the food quality for
multiple commodities within 30 seconds, thus

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com S P E A K I N G W I T H 35

enabling agribusinesses to fasten the procurement Undoubtedly, the future of agriculture is digital
and operations processes, optimise costs, enable and agritech startups are paving the way for the
traceability, and ensure highest quality of the next revolution in the agriculture sector. With the
product. Its AI engine uses computer vision, and use of emerging technologies, agritech startups
IoT sensing solutions to assess the commodity are providing solutions, which are uniquely
and give instant quality analysis. With the help suited to India’s dynamic agricultural diversity, to
of Qualix, commodity trade is being digitised improve productivity and profitability for farmers,
while driving trust, agility and transparency in the agribusinesses and other stakeholders. With
agribusinesses. expanding deep tech interventions into agriculture,
agritech startups are facilitating standardisation,
How do you foresee AI solving many of building informative databases and providing
the problems traditionally associated critical insights to ensure a smooth farm to fork
with industries like tea and spice? value chain.

Agriculture sector is primed for technological What inputs are required for the growth
interventions. In the tea industry, there is immense of agritech startups in India?
potential to standardise the quality assessment
and improve price realisations across the value Agriculture sector has traditionally been
chains. We have developed, in collaboration with considered a tech-agnostic space. Today, agritech
Tea Research Association, TragNext- a Digital startups are using deep tech interventions to
Ballometric technology that works using the change this equation and revolutionise agriculture.
power of AI and computer vision. Using an AI- However, though the scope is vast, the challenges
based image recognition engine, it can classify are equally big. From investment to infrastructure
leaves, buds, banjhi, shoots and other parts of the to innovation, the agritech sector needs immense
daily tea harvests and provide rapid assessment. support from established systems to build a
It eliminates the time-consuming and error- sustainable growth path. There needs to be greater
prone manual techniques, and brings efficiency, emphasis on R&D to invent more India-specific
transparency and profit for all stakeholders. technologies which can deliver desired solutions
Similarly, we can use ‘Qualix’ to measure the on-ground. To facilitate the growth of agritech
quality of spices such as turmeric, chilli, etc. Using startups, a confluence of multiple stakeholders
AI, we can bring in more standardisation in the such as government, regulatory bodies, technology
food trade, thereby building trust in buyer-seller experts, investors, industry experts, among others
interactions. Additionally, by integrating AI with need to come together to build a supportive
data analytics we can establish effective data ecosystem.
management practices and access critical data-led
insights for better decision making. How would you envisage the future of
agritech startups in India?
What are the plans of the company
for FY 2021-22 in terms of new Increasing technological penetrations in
technologies and strategic expansion? the agriculture sector along with agriculture-
specific tech advancements are paving the
We look to expand our commodities portfolio way for agricultural revolution 4.0. Successful
and increase our geographic footprint. We are also tech interventions are also building greater
focusing on our R&D efforts to increase the gamut confidence among stakeholders, whether farmers
of our technological solutions to further solve or agribusinesses, about the benefits of using
problems in various food value chains. technology to solve persisting legacy issues in the
sector. The agriculture industry is the backbone of
What is the contribution of agritech our economy. With the adoption and integration of
startups in the growth of the agri sector? AI, IoT and data analytics in the agriculture sector,
we are looking at a more robust agricultural engine
Agritech is an emerging sector and is being that has the potential to power and accelerate
fuelled by the rapid growth of agritech startups. India’s growth.
Across the country, agri-entrepreneurs are
innovating diverse uses of technology to solve Dipti Barve
various problems in the agricultural value chains.
[email protected]

36 S P E A K I N G W I T H AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

"It's essential to ensure that
our technology is efficient,
scalable and easy to use"

MAYANK What inspired you to launch a startup?
TIWARI,
The whole process of creating raw silk,
Co-Founder & CEO, from its early stages of egg production, cocoon
ReshaMandi creation, yarn production, and finally fabric
production, is marred with myriad challenges.
ReshaMandi, India’s first silk agri- Every stage of the process poses authentic
tech startup, has arrived with the hurdles. Take, for instance, traders who act
vision of bringing in standardisation as middlemen, add no value for farmers and
in a highly unregulated market. The continue to diminish the earning potential of all
firm's proprietary Artificial Intelligence the stakeholders.
(AI)- and Internet of Things (IoT)
technology are bringing in transparent Technological interventions were close to
and inexpensive solutions to the finer nil in the silk supply chain. There were several
fabrics issues in India while closely possibilities of technology playing a pivotal role in
working with farmers to streamline the improving and streamlining the entire value chain.
silk industry and utilising the company's Silk has been a very important part of the cultural
app, especially curated for farmer’s and economic setup of the country. A deep dive
productivity. Their platform has helped into the silk supply chain shows that it has been
farmers sell over Rs 15 crore worth of neglected. Hence it is not able to deliver better
cocoons (3 lakh kgs), practically from results to its stakeholders, leading to losses, lower
their farms itself without the hassle production, and an increase in imports. I realised
of travelling to mandis. The startup that the best and the fastest way to improve
recently raised $1.7 million as a part of sericulture in India is to introduce the right
its seed round funding led by Omnivore technology at the right place, in the right way.
and Strive Ventures. Mayank Tiwari, Co-
Founder & CEO of ReshaMandi shares Silk industry being a highly unregulated,
his views on how agri-tech startups are what challenges did you face initially?
helping in organising silk supply chains
in India. Edited excerpts; We are a new and unique player in this
industry which surprisingly did not have anyone
involved at the level we are at now. We definitely
faced various hurdles and friction. Adoption of
technology is one of the biggest challenges I have
faced. Stakeholders in the silk supply chain are
diverse, and they have their own take on how
technology can help them. Also, digital adoption
in tier III towns and villages is a difficult
proposition, not just because of the lack of
proliferation of mobile phones, but also, mobile
network infrastructure is lacking.

Lack of knowledge of how technology can help
improve their core business is also a significant
roadblock. Geographical constraints, lack of
testing kits to ascertain the quality of cocoons and

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com S P E A K I N G W I T H 37

yarn produced, were other challenges. Breaking farmlands to measure the moisture, carbon,
a habit is difficult, especially with something that and pH levels of the soil to ensure high-
has never been seen or used before. It takes time quality mulberry leaves are fed to silkworms.
and effort, but once technology starts delivering, These devices have shown significant results,
adoption becomes easier and faster. It is essential improving output to over 20-25 per cent.
to ensure that the technology we are building is Farmers have adopted this technology and have
efficient, scalable, and easy to use. attested them. We substantiate this claim with
data that has been collected over a period, as we
How are you contributing in organising also procure the cocoons.
the silk supply chain in India?
How do you foresee the silk industry?
We are the world’s first and only digital
silk supply chain enterprise, involved in The silk industry in India is a big sector,
solving problems for each stakeholder using a employing millions, directly or indirectly. It
combination of technology, technical advisory, generates significant income, totalling nearly
and on-the-ground assistance. Our full-stack 2.5 per cent of the GDP. Most of the silk that is
platform acts as a layer of trust ensuring produced here is consumed internally, leaving
transparency, fair pricing, and increased incomes less to be exported. We are working on two
for all stakeholders in the silk ecosystem. aspects of the supply chain:
 Increasing capacity- This can be done
We are building a sustainable ecosystem
where the farmer is able to complete the entire effectively by introducing technology. We
cycle of silkworm rearing to weave the finished are providing efficient marketplace linkages,
product with the help of technology. Our services standardising operational processes,
ensure that crops stay healthy via AI-based removing logistics bottlenecks, introducing
tracking, which has helped reduce crop failure IoT devices, and more.
by 80 per cent, hence providing the farmer with  Increasing quality-This has a direct impact
higher production capacity and eventually get on the adoption of Indian silk. When the
higher revenue. quality of silk produced becomes better, it is
naturally used more by weavers. IoT devices
ReshaMandi has successfully launched are extremely important in this process. Time
a super app for silk. The app is designed, to market is also decreased with logistics
developed, and deployed by us to make the management.
life of the sericulture practitioner easy and By making sure capacity and quality
profitable. The app is divided into four sections improve, at the farm level, Indian silk becomes
and practitioners of specific aspects of the supply competitive, lucrative, and viable. This in turn
chain can log in and find what they need. It is has a positive impact on sericulture output which
available in four vernacular languages, is light to is our way of making India ‘Atmanirbhar' in silk.
download and we also provide support via phone
and WhatsApp. How exactly, is your app helping
sericulture farmers?
The user has access to marketplaces, can
purchase necessary input, get scientific advisory, We only source and provide quality inputs
and so on. They can showcase their products, that have passed our quality checks. These are
as catalogues which are then visible to buyers easily accessible via the app. We also provide
from across the country. Payments are done delivery options.
completely online which reduces risk and fraud.
We practise data-backed purchasing to
We are constantly improving farmer output via minimise crop failure. We want to move away
IoT led real-time monitoring and reporting. We from negotiation-based trading and move
have introduced two IoT devices at the farm gate: towards scientific-based procurement of cocoons
 Rearing Shed IoT -These capture using renditta testing. These tests are widely used
across developed countries but have not been
temperature, humidity, air quality, and light scaled throughout India.
and provide real-time insights and advisories
to the farmers, via the app. Dipti Barve
 Mulberry IoT (in partnership with Fasal)-
These devices are deployed in the mulberry [email protected]

38 S P E A K I N G W I T H AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

"Farmers' produce are
fetching much better prices
with numerous platforms
providing market linkages"

NIKHIL What has been Bijak's role in creating
TRIPATHI, barrier-free agricultural market
linkage for agri-commodity traders?
Co-Founder, Bijak
Bijak is a B2B marketplace for agricultural
Bijak is a leading B2B trading agri- commodities that enables traders, wholesalers
tech startup with logistics services and food processors to discover counterparties,
for their 25,000 traders and suppliers. get better pricing, and access working capital.
Bijak aims to curb food wastage, build We have created an online marketplace of
consistent supply and movement verified agri-traders through our proprietary
of 110 commodities. From a gross rating tool that addresses the trust aspect, by
merchandise value (GMV) of Rs 50 bringing in a platform for transparency in supply
lakh in October 2019, the platform has chain processes. Through the platform, Bijak is
hit an annualised GMV of Rs 1,200 bringing accountability to all stakeholders in the
crore. Bijak has shown exceptional agri value chain. It also acts as an e-ledger for
growth during the pandemic, with suppliers and buyers, maintaining the transaction
presence in 27 states/union territories history for both making Bijak a trusted partner in
(UT). For traders and suppliers, Bijak the agriculture commerce community.
aims to bring flexibility, convenience,
cost-effectiveness and build market Indian agri traders traditionally dealt with
linkages in the agri supply chain. only a limited number of trusted counterparties.
Aligning to the company’s vision, the With Bijak, they can now connect with thousands
company has taken a step forward to of agri traders from across India based on ratings
facilitate transparent trading and offer alone. This opens up suppliers to new business
services such as credit, payments/ opportunities that didn’t exist earlier. Similarly,
escrow, and logistics. Nikhil Tripathi, buyers can now trade with verified suppliers
Co-Founder, Bijak, shares his views from different regions. Bijak is used by agri
with AgroSpectrum on the contribution traders in more than 1200 locations across 28
of agritech startups in the agri-supply Indian states and union territories. More than
chain. Edited excerpts; 25,000 buyers and suppliers have used our
platform to date. This includes farmers, Farmer
Producer Organizations (FPOs) and other
institutional players. The app sees daily trade in
over 100 perishable commodities and hits half
a billion dollars in annualised GMV in 2021.

How will Bijak's recent launch of
logistics services in Maharashtra and
UP boost the agri-value chain?

The agri-tech market in India is a highly

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com S P E A K I N G W I T H 39

fragmented sector. The agri supply chain industry to a different level. These innovations
constantly faces various challenges like matching are eliminating the traditional challenges in
the rising demand or procurement of produce the industry by providing efficient solutions
to maintain the consistent supply of agri while encouraging sustainable agriculture.
commodities across India. To overcome these
challenges, we have introduced logistic services The disruptive technologies are
for traders and suppliers for the smooth flow empowering farmers and agribusinesses
of commodities across states. We are boosting with in depth insights on crop production
the agri-value chain by curbing food wastage, enhancement, real-time monitoring,
building consistent supply and movement of harvesting, procurement and logistic
commodities. As a company, we are ensuring solutions. The frontier technology has brought
flexibility, convenience, cost-effectiveness and an agricultural revolution which is boosting
more market linkages in the agri supply chain. productivity and enabling smooth processes in
As an agri trading commodity platform, we want the agri value chain.
to focus on developing an ecosystem to facilitate
transparent trading in the agriculture industry With Bijak, there is now an availability
while offering services such as credit, payments/ of a faster go-to-market for yielded crops
escrow, and logistics. which eliminates the challenges of delay in
procurement and sale of the produce. AI and
What are your growth plans and ML approaches are transforming agriculture
strategies for FY 2021-22? in India and spurring a new wave of growth
in the industry. We are currently fine-tuning
Bijak ventured into the industry as a the app's recommendation engine to speed up
bookkeeping app and then quickly morphed into counterparty discovery and trade. This new
an online marketplace mid-2019. The company development will automatically fetch the top
has seen exponential growth since then as a relevant buyers or suppliers for the requesting
trading platform. We initially started with one counterparty, after factoring in everything
commodity from Kannauj, but today, we oversee like rating, price, location, logistics, and
trade in over 100 plus perishable commodities. availability. This will further cut down the time
Therefore, the immediate plan is to initiate spent on counterparty discovery by our users.
trade in non-perishable commodities. The app is
currently active across 1200 locations in India, How do the agri-tech startups
and is set to spread its reach in the coming contribute to agri-supply chains?
months.
The supply chain is critical in all sectors,
As an agri-tech company, a tech upgrade especially in agriculture. With new age
is in the works. This includes a full-fledged technology, agri-tech startups are reducing
recommendation engine, and tech infrastructure the time from farm to fork while ensuring
innovations to handle the growing number of food safety and quality. The challenges in
transactions. The Bijak app handles 2500 to the supply chain processes are now being
3000 tonnes per day and this volume is growing eradicated with the emergence of agri-tech
by the day. The logistics services, currently startups which are providing end-to-end agri
active in Maharashtra and Uttar Pradesh, will solutions. With the rise of platforms providing
soon be expanded to other regions. Similarly, market linkages, farmers now have access
we plan to bring in more non-banking financial to more buyers and can sell their produce at
companies (NBFCs) and banking partners. much better pricing. AI and ML in agriculture
The ultimate aim is to refine the app so that it are helping startups in reengineering the
continues to provide a stellar user experience value chain to solve both demand- and
while scaling up. supply-side issues in the agri sector. They
are strengthening the economic conditions of
What has been the impact of AI and the farmers and agribusinesses and resolving
ML in the agriculture supply chain? the traditional supply chain challenges in the
sector.
Artificial intelligence (AI) and machine
learning (ML) have taken the agriculture Dipti Barve

[email protected]

40 S P E A K I N G W I T H AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

“Efficient supply chain and
better access to agri inputs
is crucial for agri-tech
startup growth”

PANKAJ
KHANDELWAL,

Chairman & Managing
Director, INI Farms

INI Farms is an Indian origin Horticulture Company working with over 5000 farmers
and exports in over 35 countries. INI Farms has become a leader in pomegranate and
banana exports from India. Kimaye bananas and pomegranates are also available with
Indian retailers in all major metros. Founded by Pankaj and Purnima Khandelwal, it is
a venture funded company with Unilazer (Ronnie Screwvala), Aavishkaar and Aspada.
INI Farms has subsidiaries in Dubai, the Netherlands and a joint venture with Future
Group. INI has brought technology at the forefront of horticulture, automating farmer
aggregation, demand-supply mapping and the entire supply chain helping farmers
achieve better returns through superior quality products. Pankaj Khandelwal, Chief
Executive Officer, INI Farms shares with AgroSpectrum, his views on the contribution of
agri-tech startups in fruit export. Edited excerpts;

How is INI Farms contributing to the meet the international quality standards, in terms
fruit export supply chain? of the quality of produce and the level of pesticide
used in growing the fruit.
We are an integrated end-to-end horticulture
company that works with over 5000 farmers As a company, we are completely integrated
across 8 states in India. We move non-seasonal across the supply chain and we understand that
fruits from ‘farm to table’ and own and control the fruits being produced at the farm are of
the entire supply chain — from sourcing fundamental quality, and our supply chain tightly
(directly from farmers) to sorting and grading maintains the quality standard of the fruit.
to packaging, branding, and exporting to 35
international markets. INI Farms works with We export around 40,000 tonnes of bananas
farmers right from the initial stages where we and 5000 tonnes of pomegranates annually to
train them to grow export quality produce that Europe, Middle East, South East Asia, alongside
North America, Australia, and New Zealand,

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com S P E A K I N G W I T H 41

with over 700 domestic modern-trade partners labelling. This enables the end consumer to trace
in these markets. We also have subsidiaries in the fruit back to the farmer.
Amsterdam and Dubai. Almost 60 per cent of our
exports go to Middle Eastern countries. Through our ‘FruitRoute’ technology QR
Code, our consumers can get a transparent
Today, we are amongst the largest players insight into the journey of the fruit, from the
in fresh fruits, controlling and directing the farmer who cultivated the fruit, the harvest,
operations in banana and pomegranates across handling, packaging, transport, and retail. This
the entire value chain. has helped in building the trust that customers
seek while buying fruits from the market.
INI Farms is primarily exporting
bananas and pomegranates. Any Furthermore, 100 per cent traceability and
specific reason for selecting only these direct farmer connect, create a strong brand
two fruits? that is focused on 100 per cent safe fruits for
consumption. By allowing to engage directly with
When we launched INI Farms, we wanted to our farmers, consumers in both domestic and
focus on a one-fruit-at-a-time approach, instead international markets will become aware of the
of going for a basket of fruit products. sustainable and ethical practices through which
our farmers grow the fruit.
Pomegranates and bananas are round-the-year
fruits and have a huge demand in the international Through our engagement right at the farm
as well as the domestic market. Both these fruits level, to monitor production, packaging, storage
have a shelf life of over 30 days, which makes and distribution, we have control over quality
them the ideal fruits to deal with in exports. at each stage ensuring the highest quality fruit
reaches our end consumer.
While India is the largest grower and
producer of bananas, until a few years ago we We are a brand that offers ethically sourced
had almost no presence in the international produce with 100 per cent traceability for our
market as we lacked best practices, post-harvest consumers across the globe, as well as offer fair
mechanisms, and export channels. We saw a price to the farmers, which are the norms in
huge opportunity for growth for export quality trading in the export market.
bananas. This led us to launch INI Farms by
involving the farmers at the root level and What is the INI Farms innovation in the
helping them improve the quality of the produce field of agriculture?
at the farm gate. With regard to pomegranates,
India is the only country in the world that INI Farms was the pioneer in bringing
produces pomegranates round the year, giving modern production systems, technology and
us a huge advantage in the international market. venture funding into Indian horticulture
Today, INI is amongst the largest exporters of space. From 2009, INI started building farmer
bananas and pomegranates from India. collectives, developing pre- and post-harvest
infrastructure and international sales leading to
INI Farms rolled out a QR code- conversion of fragmented industry into modern
based origin traceability feature for organised integrated supply chain.
all its fruits in the international and
domestic market under the technology We are implementing best practices like
programme ‘FruitRoute’. How will it drip irrigation for water management. All of our
help in increasing exports? farms are 100 per cent GAP (Good Agricultural
Practices) certified and suitable for exports.
Given the world we are in today, and the The fruit goes through five inspections before
current pandemic situation, there is a growing reaching the customer. Modern integrated pack
demand for consumers to know where their food houses and cold storage units are installed
is coming from, and how it is grown. for post harvesting, sorting and packaging of
fruits. We are using cold logistics in our supply
As consumer awareness grows, safety of the chain. The introduction of the 'FruitRoute'
fruit, and hygiene becomes a priority. technology has put our Indian farmers on the
global horticulture map. This technology has
In order to address these concerns, we also helped bridge the gap between the urban
invested in using technology to implement and rural, while helping customers get superior
traceability in fruits through QR codes and

42 T E C H N O L O G Y N E W S AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

quality products. INI Farms was the first to chain management which helps to improve
introduce this technology in India. post-harvest efficiency and reduce crop wastage.
Controlling and directing entire operations right
Automated farmer aggregation and demand- from farm-gate to consumer's plate includes
supply mapping are few such features that large scale farm-level aggregation, managing the
further help farmers in producing superior supply chain, and delivering quality products.
quality products. Deep engagement with farmers helps improving
the quality of the products and increasing farmer
What are the plans and growth strategies income.
of the company for FY 2021-22?
For example, INI Farms has devised a mobile
INI Farms is currently expanding its base in pack house at farms, where the fruits are packed
the Barmer district of Rajasthan as a key sourcing within an hour of harvest and are cooled and
hub for growing export quality pomegranates. stored within 24 hours. This has succeeded in
We are closely engaged with farmers, training reducing the supply chain wastage to 1.6 per cent
them to provide technical knowledge on the of produce compared to 25-40 per cent initially.
sustainable methods of cultivating the fruit In addition to this, large scale farmer education
to reap maximum benefit. Last year, we also programmes, innovations on India specific
launched our D2C e-commerce platform Kimaye. supply chain solutions like mobile pack houses,
com for our customers in Mumbai. We plan on partnerships with local and state government and
expanding the e-commerce services to new cities mobilisation of financial support for farmers has
in the coming months. transformed the horticulture exports industry
from India.
How does INI Farms help the farmers?
What inputs are required for the growth
Our farmers are our most important of agri-tech startups in India?
partners. Working with them, bringing advanced
technologies to farms, de-risking their business, For the growth of agri-tech startups in India,
improving their livelihood and celebrating them the goal should be to make supply chain efficient
is central to our journey. Today, we work with and provide better access to agriculture inputs for
more than 5000 plus farmers and are located the farmers. Technology adoptions are important
in eight Indian states i.e. Maharashtra, Andhra to bring forth farming-related advanced
Pradesh, Gujarat, Kerala, Madhya Pradesh, technological mechanisms that will help local
Tamil Nadu, Karnataka, Rajasthan. The business farming become a sustainable and profit-yielding
model is focussed on organising the entire supply venture. Certain measures like micro-funds for
chain from farm level to retail stores. We solve innovation support for incubation, acceleration
problems at each stage of the process and help and catalytic funding need to be implemented by
connect the farmers directly with retailers. This the government.
includes farm level interventions like training
and providing them with technical guidance. What are the opportunities for agri-tech
We also demonstrate and inform our farmers startups in India?
about the standard practices required to produce
export quality fruits. Our farmers are provided The agriculture sector contributes
premium over market price, for improved quality approximately 20 per cent to the national GDP
of produce, increasing their income by 30-40 and almost 60 per cent of India’s population
per cent. This has helped us with high farmer depends on agriculture as its primary source of
retention of over 95 per cent over the years. revenue. Also, the export market for agricultural
produce is huge. The agri-tech sector in India
What is the contribution of horticulture has enormous untapped potential and startups
startups in the agri-supply chain? in this sector are playing a pivotal role in
easing the burden of farmers by digitising the
For a smooth supply chain, monitoring the complete supply chain with the help of new-age
end-to-end supply chain operations by using technologies.
smart farming technologies is vital. Startups
in horticulture have adopted digitisation and Dipti Barve
automation from farmer aggregation to supply
[email protected]

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com T E C H N O L O G Y N E W S 43

SABC, Agrovision Best Agrolife gets
conducts experiment of 20-years patent for 3-way
mating disruption tech insecticidal combination

The South Asia Biotechnology Centre (SABC), Best Agrolife has received a patent valid
Jodhpur in collaboration with Agrovision
Foundation, Nagpur has laid out the country’s for 20 years for the three-way insecticidal
largest field experiment of an innovative mating
disruption or mating confusion technology spread combination in
over 300 acres in four clusters to ward off Pest
Pink Bollworm (PBW) in cotton in Waroda and India that
Adasa villages in Kalmeshwar Taluka in Nagpur
District of Maharashtra. PBKnot is an innovative will effectively control the
mating disruption technology, approved recently
by Central Insecticide Board and Registration entire sucking
Committee (CIBRC) of the Ministry of Agriculture
& Farmers Welfares of the Government of India is pest complex,
an ideal approach for effective PBW management
and a best fit in integrated pest management including whitefly, jassids,
(IPM) of bollworm management in cotton.
Moreover, PBKnot technology is easy to use, safe aphids, and thrips together
to beneficial insects and eco-friendly. A first-of-
its-kind field experiment laid out over 300 acres in various crops in just one
in four clusters in GPS coordinated cotton fields
with the structured tagging of PBKnot thread spray alone. The company has
by trained local volunteers under the guidance
of experts from SABC, Agrovision Foundation applied for a product trademark-
and ICAR-CICR will be studied for pest insect
population dynamics, insect ecology and damage RONFEN, and the product will
as part of an IPM approach of pink bollworm.
be out in the market with the

onset of the next Kharif season.

The insecticidal combination is

titled ‘A synergistic insecticidal

composition comprising a

bioactive amount of Diafenthiuron

and Pyriproxyfen’, and the

patent covers the composition of

Pyriproxyfen, Diafenthiuron, and

Dinotefuran in a unique suspension

concentrate formulation. Best Agrolife has a

turnover of Rs 912.74 crore and the company

says that as of March 2021 figures, the product is

estimated to help Best Agrolife revenue grow by

40 per cent; overall it will contribute around 25

per cent of the total revenue in the coming year.

NIPGR unveils strategy deployed by
resistant tomato cultivar against ToLCNDV

Scientists from National Institute of Plant Genomics Research (NIPGR), a Department of Biotechnology
autonomous institution, have reported an effective defence strategy deployed by a resistant tomato
cultivar against ToLCNDV. It employs Sw5a (R gene) that recognises AC4 protein (viral effector) of
ToLCNDV to restrict virus spread. At the transcriptional level, the sly-miR159-SlMyb33 module has
been identified as governing gene expression of Sw5a. Thus, the investigators have provided mechanistic
insight into slymiR159-SlMyb33–controlled Sw5a-mediated defence response in tomatoes against
ToLCNDV. The findings could be translated into the development of resistance in susceptible
cultivars of tomato through modern breeding or molecular approaches. Tomato leaf curl
New Delhi virus (ToLCNDV) infection causes severe losses in tomato yield worldwide.
Lack of information on resistance (R) genes against ToLCNDV has considerably retarded
the pace of crop improvement against this rapidly spreading pathogen. Several attempts
have been made to identify antiviral genes against ToLCNDV and related viruses.

44 A C A D E M I A N E W S AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

IIFCO's NBRC, ICRISAT, PJTSAU release
high-yielding disease-resistant
IIT Delhi sign pigeon pea variety in India

MoU for agri TDRG 59, a high-yielding variety of pigeon
pea resistant to Fusarium wilt and sterility
innovation mosaic diseases, has been identified for
cultivation in India’s south zone. The new
Indian Farmers Fertiliser variety produced 23.13 per cent higher yield
Cooperative Limited (IFFCO) than the national check-in three-year trials
research and development conducted by the All India Coordinated
unit, Nano Biotechnology Research Project (AICRP) on pigeon pea.
Research Centre (NBRC) has Developed by the International Crops
signed a Memorandum of Research Institute for the Semi-Arid Tropics
Understanding (MoU) with the (ICRISAT) and Professor Jayashankar
Indian Institute of Technology Telangana State Agricultural University’s (PJTSAU)
(IIT) Delhi for research Agricultural Research Station in Tandur, TDRG 59 was
consultancy, knowledge identified by AICRP in June 2021. Also known as ICPL 99050,
transfer and collaborative the variety produced an average yield of 1719 kg/ha or 23.13
projects. IFFCO endeavours per cent higher than ICPL 8863 (national check) and 26.21 per
on developing highly advanced cent higher than CO 8 (local check) in multi-location trials.
agricultural technological The fungal disease Fusarium wilt and the viral disease caused
projects and promote precision by the sterility mosaic virus are two diseases that significantly
farming and sustainable lower pigeon pea yields. ICRISAT developed the line which was
development in the country taken up for testing and evaluation by the research station.
to double farmer’s income
by 2022. The collaboration PAU, NABARD initiate
emphasises focussed joint project to promote tar-
research through sharing wattar direct-seeded rice
laboratories of IIT Delhi and
IFFCO and providing research The Punjab Agricultural University (PAU) and the National
consultancy. The MoU will Bank for Agriculture and Rural Development (NABARD)
broaden the scope for research have initiated a collaborative project to promote tar-wattar
and technological development Direct Seeded Rice (DSR) in the state. The two-year NABARD
in the field of agriculture. It will sponsored project focuses on capacity building of farmers
facilitate advanced research in on this technique through training and demonstrations at
the Area of Nano Technology farmers’ fields in 12 districts of the state for creating awareness.
for futuristic applications. The move, in a way, will help to up-scaling the shift toward
IFFCO scientists and engineers water-saving techniques for saving precious natural resources
will work with academic of the state. Tar-wattar DSR is a novel technique developed
research faculty and scholars and recommended by PAU in 2020 to reduce water footprints
of IIT Delhi in addressing in rice cultivation. In this technique, pre-sowing irrigation is
challenging agricultural and applied and primed seed is sown in
environmental related problems a tar-wattar field preferably using
to find an innovative solution. Lucky Seed Drill. A shift from puddle
transplanting to DSR saves 15-20 per
cent of irrigation water, offers 10-
15 per cent of higher ground-water
recharge, saves labour and provides
250 kg/ha higher wheat grain yield.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com A C A D E M I A N E W S 45

PAU, Nutranta Seeds CSIR-CMERI
partner to commercialise
maize hybrid PMH 13 opens ventilated

The Punjab polyhouse
Agricultural University
(PAU) inked a pact to facilitate
with Nutranta Seeds,
Sunam, Punjab for horticulture
commercialisation of
maize hybrid PMH 13. crops
Dr NS Bains, Director
of Research and Telha Dr (Prof) Harish Hirani,
Jameel signed the Director, CSIR-Central
Memorandum of Agreement on behalf of their respective Mechanical Engineering
organisations. This public-private partnership will certainly Research Institute, Durgapur
facilitate the dissemination of PAU-developed technology to inaugurated a naturally
farmers. PMH 13 is a high yielding hybrid with an average yield ventilated polyhouse facility
of 24 (q/acre), maturing in 97 days. It is moderately resistant and laid the foundation stone
to maydis leaf blight, charcoal rot and maize stem borer. The of retractable roof polyhouse
partnership will facilitate the dissemination of PAU-developed at Ludhiana in Punjab. A
technology to maize farmers. combination of open field
conditions and conventional
ICAR-CIFRI signs agreement polyhouse conditions is a
with Glaucus Agrochem more robust way to deal with
climate change and associated
The ICAR-Central Inland Fisheries Research Institute (CIFRI), problems in the future. CMERI
Barrackpore, Kolkata has signed the Technology Transfer Extension centre, Ludhiana
License Agreement with Glaucus Agrochem for ICAR-CIFRI is installing a retractable roof
ARGCURE. Dr BK Das, Director, ICAR-CIFRI, Barrackpore polyhouse technology. The
and Sariful Islam, MD, Glaucus Agrochem, Kolkata signed the all-weather structure will have
agreement on the behalf of their respective organisations. The an automatic retractable roof
ICAR-CIFRI ARGCURE will provide respite from the parasitic which will be operated based
outbreak in the inland fisheries and aquaculture. The ICAR- on weather conditions and
CIFRI has developed an innovative product- ICAR-CIFRI crop requirements from the
ARGCURE using a polymeric nanomicelles approach. The conditional database using
experimental results show that the technology is effective in PLC software. The ongoing
controlling the fish parasite Argulus bengalensis at a low dose as development will help farmers to
compared to the conventional formulations. The technology’s cultivate both seasonal and off-
application results in the disruption of the hatching process of season crops. It can fetch higher
the parasite. The field evaluations depicted that it performed yield, firmer and high shelf-life
well in the field conditions and retained the water bodies’ produce by creating optimal
parasite-free for a longer time duration. indoor microclimate conditions
compared to conventional open
field tunnels and naturally
ventilated polyhouses. Moreover,
it is a viable technology for
organic cultivation.

46 A G R I I N P U T S N E W S AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

TAFE launches commercial tractor Haulage in UP

Tractors and Farm Equipment (TAFE) has fleet owners, contractors and drivers, for use
launched the 35 hp Massey Ferguson 7235 in commercial and haulage segments like
DI Haulage Special tractor for trolley sugarcane haulage, brick kilns, sand mines, stone
and commercial applications in Uttar mines, water tankers, construction material
Pradesh. The newly launched MF transportation, infrastructure and development
7235 DI offers modern technology,
advanced features, best-in-class work. The new MF 7235 also
power, high fuel efficiency, globally provides high backup torque at
renowned MF hydraulics, low low operating rpm, resulting
maintenance, maximum safety in better power delivery and
and operator comfort, at a
special introductory price. lower fuel consumption,
The MF 7235’s dynamic enabling the customers to
performance makes it the ideal complete more trips in less
tractor for rural entrepreneurs, time with the added benefit of
enhanced safety, comfort and
ease of operation.

Sonalika opens Mahindra sells 25769
harvester
manufacturing tractors in domestic
facility in HP
market during July 2021
Sonalika Group will set up a new high tech facility
at Amb, Himachal Pradesh, with an investment Mahindra & Mahindra Ltd.’s Farm
of Rs 200 crore to roll out advanced quality Equipment Sector (FES), part of the
harvesters. Sonalika’s new plant at Amb is spread Mahindra Group, announced its tractor sales
across 29 acres and is designed with a multi-stage numbers for July 2021. Domestic sales in
CED (Cathode Electric Deposition) paint process July 2021 were at 25769 units, as against
often seen at car manufacturing facilities. The self- 24463 units during July 2020. Total tractor
propelled harvester is fully equipped with next- sales (Domestic + Exports) during July
gen technologies that not just reduce the tedious 2021 were at 27229 units, as against 25402
labour tasks during the harvesting season but units for the same period last year. Exports
also remains economical, thereby leading to quick for the month stood at 1460 units. Demand
savings for farmers. The Sonalika Samrat facilitates remained buoyant in July as crop sowing
operations like reaping, threshing and winnowing. operations gained traction with monsoon
It is designed for farmers to obtain maximum picking up pace across all the regions. The
yield with ease and comfort in operations during easing of COVID curbs and robust farm
harvesting of wheat, paddy, barley, soybean, incomes on account of record Rabi crop
sunflower, mustard, green gram along black gram. procurement has bode well for the rural
economy.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com A G R I I N P U T S N E W S 47

NFL, RCF sign US-based Naviz Analytics
launches Samhitha Crop
MoU with Care Clinics

IFFCO for US-based data science

tech transfer firm Naviz Analytics

of nano urea has officially launched

fertiliser Samhitha Crop Care

National Fertilisers Limited Clinics, a unique,
(NFL) and Rashtriya
Chemicals and Fertilisers precision farming
(RCF) signed a Memorandum
of Understanding (MoU) with advisory aimed
Indian Farmers Fertiliser
Cooperative (IFFCO) for at increasing the
‘transfer of technology’ of
a revolutionary and game- bottom line of Indian
changer fertiliser nano
urea liquid. The storage farmers. Samhitha leverages drones, soil telemetry, weather
of nano urea will also be
easy for the farmers. Direct stations, etc., along with agriculture experts on the ground
financial savings, reduction
in transportation cost and who communicate the insights to farmers. Under its pilot run
better production will increase
the income of the farmers. in the Telangana region, Samhitha focussed exclusively on
Nano urea will also reduce the
import of conventional urea citrus growers who faced low crop yield and lifespan. According
in India. Technology transfer
from IFFCO to public sector to reports, the average citrus crop yield in India is 5 tonnes
fertiliser companies will be
achieved through these MoUs. against 15 tonnes per acre in the western nations, while lifespan
The technology transfer will
ramp up the production averages about 12 years, against 45 years in the west. Samhitha’s
leading towards consistent
supply resulting in faster precision farming advisory enabled farmers to clock over 30 per
adoption and would also result
in more savings to farmers and cent higher yield year over year and identified over 52 on-field
government subsidies. Under
these agreements, IFFCO defects. And this happened after input cost reduction, driven by
will transfer the technology
of Liquid Nano Urea to NFL smart irrigation and continuous crop monitoring.
and RCF. NFL and RCF will
establish new nano urea BCS receives grant
production plants to increase to manufacture
the supply of nano urea to Trifloxystrobin in India
farmers of the country.
Best Crop Science (BCS), a manufacturer of agro-inputs, has
announced that the Central Insecticides Board & Registration
Committee has granted registration for indigenous
manufacturing of Trifloxystrobin Technical u/s 9(3). With
this new addition, BCS shall become the first agrochemical
company to manufacture and market Trifloxystrobin in India.
Trifloxystrobin is India’s number one fungicide in demand.
Trifloxystrobin being a top molecule has enormous demand
in the domestic and global markets of North America, Europe,
Asia Pacific, South America, Middle East, and Africa. The
estimated Trifloxystrobin market size of India values closes to
Rs 400 crore. An excellent compound for efficient integration
into control programmes against fungal pathogens in cereals,
paddy crops, fruits and vegetables like tomato, grapes, mango,
chilly, and wheat. Best Crop Science will be soon acquired by
Best Agrolife - being among one of the top 15 agrochemicals
in India and is having a focus on healthy living, sustainable
growth and unique possibilities of agribusiness.

48 S U P P LY C H A I N N E W S AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com

Uttarakhand exports first consignment of
vegetables to UAE

In a major boost to agricultural produce exports for exports, which meets the organic certification
from Uttarakhand, the first consignment of standards of the European Union. APEDA is
vegetables including curry leaf, okra, pear and planning to provide financial assistance for setting
bitter gourd sourced from the farmers of Haridwar, up a packed house in Uttarakhand which would
was exported to Dubai, United Arab Emirates. The fulfil the mandatory requirement or infrastructure
exports of vegetables come after a consignment for the export of fresh fruits and vegetables to the
of millets grown in Uttarakhand was exported to international market.
Denmark in May 2021. Agricultural and Processed
Food Products Export Development Authority
(APEDA), in collaboration with Uttarakhand
Agriculture Produce Marketing Board (UKAPMB)
and Just Organik, an exporter, sourced and
processed ragi (finger millet), and jhangora
(barnyard millet) from farmers in Uttarakhand

APEDA, HPMC exports five unique varieties of apples to Bahrain

APEDA in collaboration with Himachal Pradesh Horticultural
Produce Marketing and Processing Corporation (HPMC)
exported the first consignment consisting of five unique
varieties of apples – Royal Delicious, Dark Baron Gala,
Scarlet Spur, Red Velox & Golden Delicious to Bahrain. The
apples are sourced from the farmers of Himachal Pradesh
and exported by APEDA registered DM Enterprises. The
apples will be showcased at the apple promotion programme
organised by leading retailer – Al Jajira group. The apple
promotion programme is also being organised to familiarise
consumers in Bahrain about varieties of apples in India.

NBHC launches Krishi Setu app

The National Bulk Handling Farmer Producer Organisations
Corporation (NBHC) has (FPOs), Krishi Setu is committed
announced the launch of its to providing knowledge-driven
electronic application ‘Krishi services for building efficiency
Setu’, a one-stop solution in the in Auctioning/Trading of
post-harvest agri value chain commodities, even with remote
offering seamless user experience access. It directly links buyers and
and reduced operational sellers electronically across the
inconveniences in trade execution, country and facilitates hassle-free
through end-to-end digitised processes. NBHC transactions, purely through disintermediation.
has developed this advanced e-marketplace Through NBHC’s pan-India reach, deep industry
for agri commodities, which is a result of our knowledge and tech-enabled operational
commitment towards taking ahead the legacy of capabilities, Krishi Setu provides services for an
technology-led innovation to provide all variants extensive range of commodities including grains,
of digitally enabled auctions and trades. With a pulses, cereals, oilseeds and spices across various
mission to empower the farmer community and locations.

AGROSPECTRUM | SEPTEMBER 2021 | www.agrospectrumindia.com S U P P LY C H A I N N E W S 49

Arya partners with SBM to fortify its
presence in commodity financing

Arya, India’s largest post-harvest Agritech player the segment. At SBM Bank India, we believe
forays into a strategic partnership with State in empowering our collaborators through our
Bank of Mauritius (SBM), India to reinforce
its competencies in financing solutions. banking expertise, to improve their offerings as
This partnership will help create well as, uplift their end customers' financial
conducive conditions for the requirements, stated SBM Bank India. In
promotion of mutually beneficial today’s landscape, the adoption of high-
goals and deeper penetration of its tech banking capabilities is more crucial
integrated services in the mid-market than ever to meet the needs of a rapidly
segment, comprising mid-corporates changing industry and diverse borrower
and higher-end SMEs. SBM Bank India is base. Alliances like these enable ease of
focusing on a commodity financing portfolio business for seamless lending processes,
and this partnership strengthens our hold in
more efficient operations for end-users, and
create new opportunities for digital engagement.

VegEase to deploy In a bid to reduce the carbon footprint of its logistics operations
electric vehicles in and achieve sustainable growth, VegEase, the cart-at-home
last-mile logistics e-grocery startup has begun to deploy Electric Vehicles (EV)
in its last-mile logistics. The company has just completed an
initial pilot this month and will move completely to an electric
fleet by 2024. Towards achieving this, VegEase has partnered
with electric vehicle OEM, OBA for their three-wheeler eVikas
light commercial vehicles under a long term leasing model. The
move will contribute to an operating cost reduction of 25 per
cent. VegEase will add three-wheeler loaders with Li-Ion battery
which have a load capacity of 300 kgs. Since its inception in
January 2021, VegEase has achieved a turnover of Rs 10 million,
a customer base of over 18,000 in the Delhi/NCR region, with
5000 customers coming on board in April and May 2021 alone.

Tata Consumer Products opens
tea packaging plant in Odisha

Tata Consumer Products (TCP) has recently to the operations network. The project will
inaugurated its new tea-packaging plant located generate direct and indirect employment for 250
in Gopalpur Industrial Park of Tata Steel Special people in the first year and 700 people by 2024-
Economic Zone (TSSEZ), post successful trial 25. The state-of-the-art packing machinery will
production. The Chief Minister of Odisha, Naveen be equipped with IoT capabilities for enhanced
Patnaik inaugurated the new plant. The
Gopalpur plant will be operated by operational efficiency. The total value of the
Amalgamated Plantations Private project is Rs 100 crore with investment in
Limited (APPL), an associate infrastructure by TSSEZ and machinery
company of Tata Consumer investment by TCP. It is the largest
Products Gopalpur plant is the first tea packing plant for TCP, producing
TCP plant to pack both leaf & dust around 60 million kg per annum by
tea, providing higher flexibility 2024-25.

BioSpectrum Promo Markeang

Bridging the gap between bio suppliers and customer

Our results-oriented soluaons are designed to engage our audience from the
business of bio and healthsciences and guide you through the journey towards
customer acquisiaon / engagement

The Prospects Journey
Each stage of the prospects journey forms the basis of how integrated
campaigns are designed. Depending on your needs, we will select products
to engage prospecave customers and clients at each stage: Awareness,

Evaluaaon, Purchase and Retenaon.

Are your prospects aware of your brand? Do they know RESEARCH
what sets you apart from your compeaaon? VIDEO
WEBINARS
In the compeaave promoaonal products marketplace, MAGAZINES
Brand Awareness is the foundaaon for a successful AUDIENCE EXTENSION
customer acquisiaon campaign. When prospects know E-NEWSLETTERS
who you are and what you provide, they can think about PODCAST SPONSORSHIP
their needs and the available soluaons. PREMIUM DIGITAL DISPLAY
SEARCH
With premium print, e-newsleeers, podcasts, and many EVENTS
more customizable soluaons, BioSpectrum Promo
Markeang can lii your brand awareness to the next
level.

GO BEYOND with BioSpectrum Promo Markeang

For more informaaon, Please contact :
Ankit Kankar ( Manager - Products & Digital Strategic Communicaaons )

[email protected] | +91 9579069369