India’s agritech firms have sprung onto the scene in the last 5 years, creating farm-to-fork brands, B2B agri markets, rural financial businesses, farmer platforms, and more. Despite all of this, agritech firms have only had a very small and restricted impact to yet, reaching fewer than 20% of Indian farmers. Here is a list of a few Indian agritech businesses with the potential to dominate their market in future.
Agrowave
The agritech firm Agrowave in Delhi-NCR is innovating at the farm gate level. In the interior of India, the organisation contacts small and marginal farmers, purchases fresh produce, and then sells it to establishments like cafés, restaurants, hotels, and merchants, among others. The business has not yet turned a profit. But it thinks the business will be able to maximise its unit economics as it extends its mobile pickup station strategy to buy more fruit from farm gates.
BharatAgri
With a market size of $6.7 billion, the agritech company wants to reach 67 Mn medium- and large-scale farmers in India. The business provides these farmers with tech-enabled digital services, particularly to those who have access to cellphones and the internet. Its app-based technology gives farmers personalised advice and uses data science, real-time surveillance, and weather-based advice to assist farmers enhance their income. Farmers must pay a subscription fee to BharatAgri, which is renewed every six months, in order to use the site. The business added that over time, the consulting services will develop into a complete platform that would offer assistance to farmers via commercial partners.
BigHaat
BigHaat, a next-generation agritech firm located in Bengaluru that offers crop consulting services and accessibility to a wide range of high-quality farm inputs by utilising the power of data, science, and technology, is assisting Indian farmers in their pre-harvest journey. The business is focusing on the market for agri-supplies, where around 145 million farmers in India spend $52 billion yearly, primarily on agricultural inputs for growing crops. This market is expanding at a 10% CAGR. Additionally, BigHaat and Microsoft worked together to create cutting-edge farming solutions that would improve farmers’ lives and create a sustainable agricultural environment.
Bijak
Bijak is a user-friendly web mobile application that digitises the actual mandis, artiyas (commission agents), dalaals (brokers), loaders, mills, and intermediaries. Its app is presently utilised by dealers, processors, aggregators, and other agritech businesses as buyers or sellers of agricultural commodities. With this, Bijak hopes to digitise the offline agriculture industry, which has a $200 billion market potential. Currently, Bijak makes money by charging lead generation fees to farm financiers (such as rural banks, NBGCs, fintechs, etc.) who have access to Bijak’s database of farmers and agribusiness transactions. Every loan that a farm lender disburses is subject to commission fees from the platform.
Clover Ventures
The Clover company, with headquarters in Bengaluru, offers full-stack agronomy solutions to the network’s greenhouse growers, increasing yields and regulating output quality. The firm, which has offices in Bengaluru and Hyderabad, now runs a farm network of greenhouses situated in rural and peri-urban areas next to urban consumption zones, maintaining freshness and minimising spoiling.
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