The Agritech sector is all charged up. Not only are funding and investments coming in from all sides, the perception of what farming and agriculture has typically been like has dramatically changed in less than a year. Now when you think agriculture, the image of a debt ridden farmer with his hands praying upwards for the rains no longer comes to mind.
Agritech’s powerful combination of technology and innovation has managed to make the troubles of the Agriculture sector a thing of the past. Add to that, the changes in policies that work to the benefit of farmers are proving to be beneficial for Agritech start-ups. The Agritech sector has seen some of the most innovative products and services including but not restricted to Farming Technology solutions, B2B agriculture marketplaces, farm-to-fork produce, etc.
The AgriTech sector is growing rapidly with new products and services to choose from, this year.
New products and services in Agritech
Pre and post-harvest agritech platforms are a new product on the block. They are technology solutions that integrate the movement of food and agricultural commodities along the supply chain.
These platforms are essentially full-stack products for the entire supply chain of commodities, right from production to distribution, and everything in between.
Farm-to-table Online store
The next innovative product/solution in Agritech which start-ups can consider is a ‘farm-to-table’ online store. This idea essentially bridges the gap between farmers and direct consumers, enabling farmers to directly list their produce like raw rice online which consumers can directly place online orders for. This full-fledged online store service is ideal for farmers to list their high-quality produce targeting direct consumers without the hassles of collaborating with middlemen. Doorstep delivery, online tracking are great ways to enable the farm-to-fork concept.
Agrochemicals Products and Manufacturing
Becoming an agrochemical company is a good idea for Agritech start-ups since specialty products supply is currently a viable option in this sector.
Although the cost of chemical prices are visibly high, there are a number of agrochemical companies already making profits owing to optimal conditions for growth.
Herbicides and Fungicides are great products to showcase. Due to the steady demand for these products in the growing Agritech sector, they have been flying off the shelves and are sure to see high sales. Dhanuka Agritech, an Indian Agrochemical manufacturing start-up is an example which achieved a growth rate of 125% in 2020.
Mobile Pick-Up Stations
Mobile Pick-Up Stations (MPS) for supply is a solid product/service idea in Agritech which MSMEs can consider. MPS are a Farmers – to – Business (F2B) concept which offers sustainable pick-up solutions for fresh farm produce right from the farm gate.
MPS is a sustainable idea which is also a farm-to-table concept, but instead of end consumers it reaches the produce to food businesses like restaurants and F&B retail companies.
The MPS business model is already being utilised by ‘Agrowave’, a Delhi NCR-based Agritech start-up which has managed to raise $700,000 in a Pre-Series A funding round.
What’s in it for me?
AgriTech start-ups in India are winning funding and solving problems of rural farmers through technology and innovation. This is the apt time to create your own AgriTech business since sustainable solutions are the need of the hour.
With all the new products and services we’ve read so far, you can pick up on the most interesting ideas and add value through your own venture.
Farmers assistance by offering advisory or tech marketplaces are brilliant ways to capitalize the already expanding technology penetration among rural farmers.
Bringing the traditional farm supply chain to a digital setting is a great direction to take as an AgriTech enterprise with technology available to hold your hand along the way.