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GreenSat to offer precision farming, agri-banker solutions to FPOs

GreenSat to offer precision farming, agri-banker solutions to FPOs
Deepak Yadav
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Agritech firm GreenSat Innovation Labs has signed a memorandum of understanding (MoU) with Gramin Vikas Trust (GVT), a rural welfare organisation and IndiaHub e-Governance, an impact-focused startup, as a technology partner for their smart FPO (Farmer Producer Organisation) initiative.

The initiative aims to develop a smart FPO model to offer low-cost user-friendly technologies to help farmers with crop management, gathering funds, ensuring adequate insurance cover, and market linkages for sales, according to a statement.

Under the initiative, GreenSat Innovation App will offer end-to-end support including precision farming, banking, market linkages, and crop insurance products. It will offer direct access to National Commodity and Derivatives Exchange (NCDEX) which will provide a commodity trading platform for bigger FPOs. This can help farmers directly access the market.

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The app provides users with both precision farming services and an agri-banker solution, the statement said. Precision farming services include information on weather forecast, detection of diseases and pests, crop growth monitoring, nutrient tracking, irrigation management, and agri-doctor assistance. The agri-banker concept integrates all financial support services in one place, including, loans, insurance, sales, commodity research, and access to NCDEX.

The partnership targets 100 FPOs in the first year (2021-22) and plans to add 500 FPOs each successive year. The company claimed over 10,000 farmers have already signed up for the project and it expects to on-board an additional five lakh farmers by March 2022.

“This partnership is the result of our determination to offer complete end-to-end solutions for farmers where they can find information, finance, insurance cover, and a market for their products. Together, we hope to revolutionize farming as we know it, providing farmers with a single platform for all their requirements,” Deepak Yadav, founder, GreenSat Innovation Labs, said. 

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The project will initially be marketed in about 20 states including Haryana, Gujarat, Himachal Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, and Bihar.


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