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June 2018
Foreword
2
The NASSCOM Research report titled “Agritech in India: Maxing India Farm Output”
aims to highlight the current Agritech scenario in India. We have tried to bring out
how Indian Agritech sector has shaped up in the past and what are the driving forces
taking it forward. We have also tried to showcase the work done by various start-ups
working in this area. Hope you enjoy reading the insights.
Debjani Ghosh
President, NASSCOM
Acknowledgement
This report has been developed by NASSCOM through a comprehensive study to understand the impact of
technology on Agriculture in India.
The preparation of this report has been possible with information assistance from various information sources
including institutions, enterprises, and start-ups in India who have extended great help to the research team.
We wish to sincerely thank all of them for their valuable contributions without which this report would not have
been possible.
NASSCOM NASSCOM
Rakesh Kumar Ashish Gupta
Director - Research Manager - Research
3
Executive Summary 6
Agritech in India 7
Appendix 39
4
Expert
Interviews
Start-up
Case studies Public
Sources
NASSCOM
Investors
Analysis
6
Executive Summary
Focus Areas Deals & Funding
Recommendations
• Training and skill development sessions for the farmers
• Financial support for the start-ups Agritech in India continuously
• Setting up more incubators to nurture early stage start-ups attracting interest from investors and
• Large agribusiness companies to focus more on technology start-ups
• Collaboration between Agritech start-ups and large Agri companies
7
What is Agritech?
Agritech is defined as a segment of companies using
technology in the field of agriculture leading to increase
in productivity, efficiency and output. Agritech can be
applied across the agricultural value chain and can be in
the form of a product, a service or an application.
value chain…
• Getting agriculture • GSM Mobile controlled • Machine based • Web and mobile
inputs directly on phone motor ImageIN technology applications to sell directly
to sort based on farm products
• Weather forecast • Hi tech irrigation systems color, size, type etc.
through weather apps like drip, sprinkler etc. • Price forecasting model to
• Wireless sensor to prevent inflation
• Decision support • Auto Steering Tractors monitor crops
solution for farmers like powered by GPS connected with • Dynamic product pricing
selling crops at smartphone
appropriate rates • Crop Counting Machines • Online marketplace for
• Measuring grains grain
• Pest Management • Machine-learning moisture content
Solution and Nutritional algorithms to differentiate • Using data to track a supply
Management Solution between weeds and crops chain
• AI based sowing
advisories
Source: BCG AgFunder
Report 2016, AgFunder
AgTech Investing Report, We have technology solutions for most issues in Agriculture,
Inc42 Agtech Investing Report the challenge is for these solutions to scale to reach every farmer
2016, Nasscom
9
Investments in Indian Agritech firms around 10%
of global investments…
Agritech Total Global Investment (2016)
$2.91 Bn
$3.23 Bn India continues to be among top 6
countries globally with most deals
in Agritech, other top countries are
2016 global investments consists US, Canada, UK, Israel and France
of 580 deals, 680 unique investors,
highest deal amount went up to
$200mn
Note: Figures dont not include Foodtech and Grocery delivery that is not directly from farms
Source: 1 AgFunder Agtech Investing Report 2016; 2 Inc42 Indian Agritech Report, 2017 figures are still not available
10
With 350+ active Agritech start-ups, India ranks 6th
globally in this space…
Agritech focus areas in India
350+ Agritech firms started
in India (2013-17)1
No. of start-ups raising the total 53
funding (2016) 2
Farm Data and
Analytics
Infrastructure
• Integrated
• Growing Platform
Systems & Finance • Remote Sensing
Supply Chain Components Information
• Payments • Software Platform
• E- Distributor • Aquaponics Platforms
• Listing Platform • Revenue • Information
• Hydroponics Sharing • Farm mapping Dissemination
• Marketplace • Drip Irrigation • Lending • Farm
Management
Solution
• Field Operations
$313 Indian Agritech start- India’s rank globally based on no. Top
Mn up funding (2016)2 of Agritech start-ups 6
Source:1Tracxn Data (excluding BioTech firms), 2AgFunder Agtech Investing Report; Inc42 Indian Agritech Report, Deloitte IOT Supply Chain Report
Number of Start-ups1 (2013-2017) 11
Start-up scenario in India
Agritech (2013 - 2017) # 140
117
120 109
100
80
59
60 43 38
40
Investor Funding Rounds1 * (2013-2017) 20
0
2013 2014 2015 2016 2017
Many Agritech start-ups
90%+ of all funding
are targeting breakeven
focused on seed stage More than 50% of the start-ups in the last 5 years got
due to continued interest Growth Stage
and early stage start- started in year 2015 and 2016
from investors for further 9%
ups; increased focus on
rounds of funding
quality and scale-up
Start-up Funding1# (2013-2017)
Early Stage
32% Seed Stage 50 43.6
59%
40
30
USD Million
20 15.8
Key Indian states focusing on Agritech Start-ups1 (2013-2017) State wise Funding1 (2013-2017)
Others
11%
Gujarat
Others
7% Karnataka Telangana
8%
27% Maharashtra 7%
Telangana 7%
7%
NCR
11% Karnataka
Tamil Nadu 67%
8%
Haryana Maharashtra
9% 22%
NCT
9%
Karnataka and Maharashtra together account for almost 50% of Karnataka accounts for two-third of total funding
the total Agritech start-ups opened in past 5 years received by start-ups in past 5 years
Source: 1Tracxn Data
13
E-distributor, marketplace,
Information listing platform etc.
Platform, 30 Finance, 5
together account for more
than 60% of Agritech start-
Infrastructure, 36
ups in last 5 years
Source: 1Tracxn Data # Funding analysis is done for only 366 start-ups based on Tracxn funding data from 2013-17
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Agritech start-ups focusing on high end solutions to
support agriculture value chain…
Big Data
Using farm data to
- Farm management solution
determine
opportunities and - Risk mitigation and forecasting solution
key areas - CRM and Input channel solution
- Traceability & compliance
- On demand harvesting
• TCS has a mobile • Tech • It helps in connecting • Cognizant helped • Accenture offers • The e-Choupal is a
delivery based Mahindra enables the dots between on- AQUATEK, a brand of various digital unique web-based
advisory platform companies to field data and business Monsanto Corporation architecture services. initiative of ITC Limited
mKrishi. It provides transport produce and insights of the farming to improve there [a large multi business
information system meat grown at farm ecosystem to product. Cognizant • Solution consists of conglomerate in India]
and deliver it as fresh. transform operations prepared an intuitive generating vital offering farmers
for farmers which
across the agriculture interface that can be insights for large required information,
help them access
• Solution highlights: lifecycle. viewed across a wide farms. products and services
localised information
range of devices. The they need to enhance
and advice on • Solution enables • Infosys mobility solution involved • Improving the farm productivity,
agricultural issues. real time solutions integrate satellite-linked, soil productivity and improve farm-gate
alerts/notifications geospatial imagery moisture probes to effectiveness of agro price realizations and
• It is an easy tool to on threshold and data for smart monitor water usage input company field cut transaction costs
seafood growers in violations agriculture, livestock and crop health maps agents.
stocking, pond management and to monitor possible • e-Choupal ensures
management, feed • Monitor storage logistics. risks to crop health. • Accenture Connected world-class quality in
and water test temperature and Crop Solution delivering all these
humidity levels • It also offers precision • Cognizant and connects the 3 goods & services
management and
ensuring food farming solutions for AQUATEK have stakeholders- field through several
sampling in addition
quality site-specific crop brought the labor- agent, agro input product / service
to providing weather management. intensive business of company and farmers. specific partnerships.
forecast and • Comply to food agriculture into the
graphical records. safety regulations digital fold
Agricultural Bioscience
Technologies that optimize or
enhance crop storage, packaging
and shelf life, food security and
Biologics (biopesticides and
biostimultants), seed technology traceability, asset and fleet usage
Agricultural Processing
Data Enabled Agriculture Technologies here includes
biofuels, bioenergy and
Application of sensors and
connectivity, data storage and
biomaterials
investors… (1/2)
Stellapps, an IOT based dairy farm Gobasco, agriculture supply chain FarmTaza, fresh produce supply
solution firm has $14mn from Bill & technology start up raised undisclosed management company, has raised $8mn
Melinda Gates foundation and IndusAge funding from Matrix Partners from Hongkong based Epsilon Partners
Partners
AgNext, a precision agriculture start-up Agricx lab that uses smartphone imaging FarmLink, an end-to-end logistics
raised undisclosed amount form from to access the quality of agricultural solutions provider for supplying fruits and
Impact venture fund, Omnivore produce raised $500k funding from Ankur vegetables raised $3mn from agro
Capital chemical company Sygenta
Gold Farm, an app-based platform for CropIn, farm management software and EM3 Agri Services, offering on-demand
booking farm equipment raised $2 million apps creator raised an undisclosed farming services and machinery raised
in seed funding from Mahindra & amount from Singapore-based early-stage $10mn from Global Innovation Fund
Mahindra fund Beenext
Doodhwala, micro delivery start-up has Licious, gourmet meat start-up has Skymet, weather forecasting service
raised $2.2 Mn in a round of Seed funding secured $10 million in a Series B round of provider raised an undisclosed amount
Source: from VC firm Omnivore Partners funding led by existing investors Mayfield from InsuResilence Investment Fund
VCCircle, Inc42
18
Khethinext, a digital technology Gramophone, a digital information RML Agtech, company providing agri
platform raised $5mn from Dubai platform provider, raised $1mn from solutions on mobile phone raised $4mn
based fiem Infoedge India from IvyCap ventures
NRJN Trust
Crofarm, start-up connecting farm and Utkal Tubers, producer and marketer Ninjacart, B2B agri marketing platform
retail raised $783K from angel investors of potato seeds raised $4.6mn from company raised $5.5mn from Nandan
and others CapAleph and Zephyr Peacock Nilekani’s NRJN Trust
Waycool, fresh produce distribution Farmart, renting platform for farm Agrostar, m-commerce start-up selling
start-up raised $2.7mn from venture equipments rasied undisclosed funding agricultural inputs to farmers raised
capital firm Aspada investments from Indian Angel Network $10mn from Accel Partners
Paalak.in
Satellite Imagery
Satellite images and data can be used
to help predict environmental factors,
Source: AgFunder News; ATKearney Innovation in Agriculture Report; crop acreage and yield estimation
NITI Aayog Discussion Paper; NASSCOM
20
Source: AgFunder News; ATKearney Innovation in Agriculture Report; NITI Aayog Discussion Paper; NASSCOM
21
Ensuring Reducing
Profitable Prices Cultivation Costs
start-up India features
Source: Inc42
Start-up India website link
23
Indian Government offers multiple incentive schemes to
support start-ups in agriculture and technology…
Kalinga Institute of
start-up Oasis
(Jaipur Based
Incubation Centre)
-
UPAYA Social Ventures
Incubation Centre Industrial Technology
(SIIC) Business Incubator
(KIIT-TBI)
Tamil Nadu
Agricultural University NASSCOM Centre of
(TNAU) / Agricultural Excellence for IoT
College and Research
Institute (ACRI)
Source: NASSCOM
26
Key Agritech Investors
Source: Tracxn
27
Indian Agritech ecosystem still faces á lot of
challenges…
Low Landholding Size Long Gestation Period
Small landholdings by farmers Farmers will take time to develop
doesn't allow mechanization of full trust in Agritech technologies
the farm to be cost effective which might affects investors
interest
Key Indian states like Maharashtra, NCR, There is a need for Government to
UP, Tamilnadu, etc. have to come up help set up Agritech focused
with favorable policies to attract start- incubators and grants. Also academia
ups and investors similar to Karnataka should encourage more entrepreneurs
(home to 70% of Agritech startups) to focus on this growing sector.
29
AgricxLab
Distribution,
Harvesting and Processing and
Inputs / Knowledge Packaging and
Transport Storage
Handling
Product Description
Agricx provides a quick, accurate, portable and easy-to-use quality
assessment tool.
Objective
To remove subjectivity out of the quality assessment process and make it
reliable and easy-to-use, in order to enable a standardized and fair value
(grades, price etc.) to different kinds of produces.
Active Regions
North India (UP, Delhi-NCR etc.)
BigHaat Agro
Distribution,
Harvesting and Processing and
Inputs / Knowledge Packaging and
Transport Storage
Handling
Product Description
It provides wide choice of quality inputs to farmers at their
doorstep. It brings accessibility of quality agricultural products and
personalized advisory by leveraging its technology offering for
farmer empowerment. Timely supply of advisory and quality inputs
is a key enabler to reduce overall cost of cultivation and improving
yields
Objective
To remove huge insufficiencies into the overall supply chain as supply chain
in India is a fragmented due to which farmers are not able to access to
quality inputs, information and technology, thus limiting their choices
How it Works
Technology Used Big Data Analytics, Machine learning,
Satellite monitoring, Weather analysis
Product Description
Farm Management Solution
Flexible farm management solution which enables complete
digitization of farms, empowers data-driven decision-making, and
provides complete visibility of people, processes and performance
on the field.
Objective
The project aims to empower farmers to adopt climate resilient practices and
adapt to the climatic changes and unpredictability
IBM
Distribution,
Harvesting and Processing and
Inputs / Knowledge Packaging and
Transport Storage
Handling
Technology Used Artificial Intelligence (AI) and Machine Learning (ML) How it Works
Product Description
IBM technology is based on the “data fusion” approach, where data from The
Weather Company, an IBM Business (termed as Remote sensing data), satellites as
well as data from the field using IOT sensors (termed as local sensing data) are fused
together using AI technology to provide timely, localized and actionable Agri
Advisory to farmers.
Objective
• Provide highly affordable and scalable Farmer Advisory Services by
combining remote sensing, Weather Data and local sensing via IoT
• Provide fundamental parameters like crop health (NDVI), soil moisture at
the best possible resolution
Active Regions
Indian States
MyCrop Technologies
Distribution,
Harvesting and Processing and
Inputs / Knowledge Packaging and
Transport Storage
Handling
Product Description
MyCrop is sustainable data driven, scalable, intelligent, self learning, real time
collaborative Agri-food system which serves as a farm as well as farmer management
solution, predictive analytics and monitoring tool, decision support system and
agriculture (buy/sales side) e-commerce platform.
Objective
It aims to ‘Change the World, One Farmer at a Time’ leading to the
betterment of the smallholder farmers’ life by providing them access to all
they need for agriculture
Active Regions
Indonesia and Gujarat Tech enabled platform to provide a
single link for all the farmers need
Source: NASSCOM Community
35
Shivrai Technologies
Distribution,
Harvesting and Processing and
Inputs / Knowledge Packaging and
Transport Storage
Handling
Product Description
It offers Smart Agriculture ERP platform for farm, farmer, procurement, processing,
supply chain, financial management and data driven analytics (Big Data and Predictive
analysis)
Objective
To provide a specialized, smart and comprehensive ERP platform for small to
medium to large sized farms and agribusinesses to improve on productivity
and profitability
Active Regions
Implemented in countries like India, Turkey, Thailand, Oman, Azerbaijan, South Africa, Sri
Lanka, Iran, Zambia, Nigeria, Congo
Product Description
Aerial spraying platform provides pesticides spraying through automated solution
which allows uniform spraying with minimal wastage.
It helps in input reduction, yield improvement, soil health improvement and reduced
pesticide residue levels
Objective
To solve the major problems involved in human component of spraying like
labour shortage, inefficient spraying and health issue
Active Regions
Product is in Pre Revenue stage and currently demonstrated to some districts in UP
Technologies
Inputs / Knowledge Packaging and
Transport Storage
Handling
Product Description
Using sensors well owners and groundwater professionals can see:
• Current water level
• Water level over time
• When pumping occurs, how much water is pumped out
• Data comparison with previous periods
Sensor takes groundwater level readings from inside of a open/bore well and passes these
readings to Cloud via GPRS, telephony network
Using predictive analysis the well owner can see the future behavior of the well
Objective
Demystification and Visualization of invisible and unpredictable resource of
groundwater for using affordable sensors which would predict groundwater
behavior and aid as decision support system for the end users
Active Regions
Prototyped Product undergoing field tests in Maharashtra
Product Description
Version 1: It contains multiple battery powered wireless sensor nodes with a central
gateway suited for Multiple chambers Cold Storages or Warehouse
Version 2: Cryo Sense is a single devices suited for deep freezers, CO2 Incubators
with temperature ranges from -200 to +250 Degree available with GPRS/ Wifi and
Ethernet options
Objective
Providing hardware to farmers to reduce the post harvest losses by
measuring indoor environment of Cold Storages and warehouse
Active Regions
Telangana, Tamil Nadu, Karnataka and UP
Appendix
40
Glossary
Key Contributors
About
NASSCOM is the industry association for the IT-BPM sector in India. A not-for-profit organization funded by the industry, its objective is to build a
growth led and sustainable technology and business services sector in the country. Established in 1988, NASSCOM’s membership has grown over
the years and currently stands at over 2,500. These companies represent 95 percent of industry revenues and have enabled the association to
spearhead initiatives and programs to build the sector in the country and globally. NASSCOM members are active participants in the new global
economy and are admired for their innovative business practices, social initiatives, and thrust on emerging opportunities.
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