Comments
Grain commerce platform Arya.ag has acquired agriculture data science company Prakshep. The acquisition will help bolster Arya’s vision of bringing cutting edge AI/ML capabilities to farm digitisation, crop monitoring, quality assaying and surveillance. It will also help the company deepen its relationship with other agri-chain stakeholders like FPOs, processors and corporates, banks, and insurance companies, Arya said in a statement. Details of the acquisition were not disclosed.
Arya.ag connects sellers and buyers of agriproduce, providing complete assurance on quantity, quality and payments. The distinct digital offerings of Prakshep will add to Arya.ag’s deep tech capability to provide traceability, transparency, quality assurance for seamless commodity commerce. Arya.ag will now hold the largest database in agriculture adding farm details including boundaries, crop activities, health and yield valuation to its existing repository of storage and grain value chain database.
Prasanna Rao, Arya.ag’s MD & Co-founder said, “Leveraging our technology stack, we have already created a digital identity for over 10,000 warehouses across India on Arya.ag and have built in transparency at all levels from aggregation to storage, finance, and commerce. Under this context, Prakshep’s tech-led proposition finds a natural fit as it enables a digital identity for every grain that traverses the value chain and builds in transparency in terms of where it was grown and the journey it has made. The aligned values of sustainability, climate smart agriculture and inclusive economic growth has brought us together.”
Agri blockchain
Arya.ag is currently developing India’s first public agri blockchain ledger. Prakshep’s deeptech experience and expertise will add further farm level integration and preload extensive historical farm activity data to Arya.ag’s blockchain ledger. The company aims to strengthen its relationship with its existing base of almost a million farmers and 500 FPOs by providing farm assessment and crop health monitoring via AI integration, remote sensing, and satellite imaging.
Prakshep’s acquisition also aligns with Arya’s focus on climate smart agricultural models with reduced carbon footprint. Prakshep’s models have facilitated a 45 per cent reduction in crop damage, 40 per cent reduction in use of chemicals, 35 per cent reduction in water usage and a 30 per cent fall in GHG emissions. Climate smart agriculture is pertinent to the challenges of food security and climate change and the partnership between Arya.ag and Prakshep can offer smart and scalable solutions to reimagine the agricultural ecosystem.
Avijeet Singh, Prakshep’s CEO commented, “The transformation brought about by digital technologies in the conventional agriculture ecosystem while seemingly overwhelming has just scratched the surface. Arya as a market leader provides us with an opportunity to create an impact in the lives of our small holder farmers on a much larger scale and value. Through this partnership, we will be able to provide our users many more new offerings based on data, scientific research and analytics, creating trust and transparency in all our transactions.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.