Farmers Edge, a Fairfax company that offers agritech solutions to farmers in the United States, Canada and Brazil, has entered the Indian market. Farmers Edge has set up an innovation lab with LTIMindtree in Mumbai to customise its agritech solutions to Indian farmers, which it expects to launch sometime in mid-2024 in collaboration with farm equipment makers, banks and insurance firms.

“Creative Innovation Lab is a great step forward to bring global technology in India to support sustainable farming practices and enhancing farmers yield. Aligned with the UN SDG Goal #2, Farmers Edge and LTIMindtree are poised to uplift the food supply chain, keeping sustainability at the heart.” said Sanjay Tugnait, President and CEO of Fairfax Digital Services.

The Farmers Edge Innovation Lab (FEIL) in Mumbai which has been operational over the past year has now a team of 30 people developing software platforms and customising solutions specific to the Indian market, said Vibhore Arora, CEO, Farmers Edge. The company has two other such labs in Iowa and Winnipeg.

Advanced capabilities

Arora said Farmers Edge brings advanced capabilities in remote sensing, soil testing and agronomic modelling to offer crop advisory to farmers, which would help them manage their crops better, reduce costs and maximise yields. Farmers Edge’s solutions are being used in about 5 million acres across countries such as the US, Canada and Brazil.

Arora said the company would be initially targetting Indian farmers growing key terminal crops such as rice, wheat, corn and soyabean among others with its solutions. “We are aware of the price sensitive-market in India and will be pricing our solutions very aggressively,” he said.

Tugnait said the company has invested millions in developing the agritech solution for the Indian market. “We will be partnering with banks, insurance firms and farm equipment makers to take our agritech platform to the Indian farmers. We are in talks with a leading bank,” Tugnait said, adding that the company would be launching its solution post elections.

Farmers Edge is entering the Indian market at a time when the adoption of agritech solutions has picked up in recent years, driven by factors such as increasing mechanisation and growing mobile penetration among others.