The number of Agri-tech segment start-ups in India is numbered at 450, receiving more than USD 248 million in funding. In recent times the acceptance of local farmers towards innovative startup solutions has caused the conversion from B2C to B2B startups. With the farmer’s average income increasing about 1.7 times making them ready to try new tech solutions. Nowadays solutions like market linkage, better access to inputs, etc are offered by more than 50 percent of Agri-tech startups. Meanwhile, new emerging areas like market linkage, digital agriculture, better access to inputs, FaaS (Farming-as-a-Service), and financing guide local farming become a feasible and profit-making venture.
It is expected that by the end of 2020 the Agri-tech sector will be the guiding force of innovation causing the country’s total alteration. A Sense of positivity is prevailing in both the local and private enterprises thereby investing in Agri-tech to expand the industry. But still, there are areas to work upon like incubation support, acceleration, funding to boost innovation, and the inaugural of new incubation centers.
Drones are now hit among the farmers giving them the reasonable option to farm. Benefits of drones include First Crop spraying- the spraying can be now done faster with real-time broadcasting. Second Planting- it reduces the planting cost by 85%. Drones allow the overall procedure for growing crops from shooting seeds and nutrients into the soil to providing all the necessary nutrients necessary. Plant conditions can also be tracked thereby informing farmers of any disease in plants.
Technology like Blockchain can now be also used to provide positive results. Blockchain can cut down inability and fraud thereby promoting food safety improving payment of farmers, and also transaction times. We can now track every agricultural product cycle from pasture to our diet. Now even we can know the data of where our food is coming up keeping us away from corrupt practices.
Sensors use can also offer benefits to the farmers. They can monitor out the different factors like moisture levels, soil conditions, sunlight, wind speed, etc. Sensors use on animals can help out to know their health, fertility, location, and progress.