India’s agritech sector, with an estimated market potential of $24 billion, is gaining momentum despite the pandemic year.
On Monday, Vijay Shekhar Sharma backed Unnati said it has partnered with satellite data analytics startup Satyukt to help farmers enhance their productivity and adopt best farming practices using satellite technology.
Unnati is a fintech powered agritech startup. As part of the latest collaboration, the company will help farmers access Satyukt’s Sat2Farm platform for recommendations on soil testing, soil moisture estimation, localized weather information, irrigation advisory, crop growth analysis and remote farm monitoring in real-time, according to a statement.
Sat2farm helps farmers minimize their input cost while increasing the crop productivity and crop water productivity.
Backed by Bengaluru-based Satyukt’s proprietary algorithm, the platform will enable farmers to monitor their farms remotely and take remedial actions in real-time. Sat2Farm will leverage multiple factors including over 100 satellite-based indices and crop variables and tracking on-ground farm data to offer personalized recommendations.
Over 2.75 lakh farmers will be able to access this solution, the statement added.
“We have always kept innovation at the core of our operations and developed best-in-class data-backed and physically scalable algorithms to give farmers access to a deeper and clearer picture of their farm, and accordingly address problems with technology,” Sat Kumar Tomer, founder of Satyukt said.
Founded in 2018, Satyukt Analytics has developed proprietary algorithms processing multi-satellite imagery integrated with various on-field, weather, and market data points to provide crucial insights on water resources, crop health, and risk monitoring bundled with advisory services to various stakeholders in the agricultural sector.
The startup raised $500,000 in seed funding from Nabventures and Social Alpha in October last year.
Anchored by Nabard (National Bank for Agriculture and Rural Development), Nabventures is also an investor in Unnati.
Founded by Amit Sinha and Ashok Prasad in 2017, Unnati claims to empower farmers with digital technologies and improve efficiencies in the farm business. It assists farmers with working capital, seed buying, purchasing the right nutrients and pesticides for crops, harvesting, and even selling the crops.