Agrowatch Weekly #4 - Cropwise Becomes Fastest Growing Agtech App, Weather Walay Partners With Synoptic Data & More

Pakistan's Agritech Ecosystem:

• Farmdar partnered with Matco Foods Limited for sustainable rice development aiming to digitize the rice value chain and provide a complete traceability solution. Farmdar also revealed that it's providing crop data to farmers and businesses across Pakistan, Brazil, Morocco and Peru, with over 168 million acres of coverage.
• Synoptic Data, a Public Benefit Corporation and WeatherWalay have entered a Data Resale Agreement which effective January 2024, will make Pakistan's rich weather insights accessible globally. This initiative marks a significant leap in climate research, empowering individuals worldwide to make informed decisions for a safer, more sustainable world.
• Syngenta 's Cropwise Grower has become one of the fastest-growing Agritech Applications in Pakistan with 100k+ registrations and 130k+ downloads and had a similar success across the border as well. In addition to being the one-stop shop for Syngenta Seed and Crop protection products, it also provides in-app pest and disease diagnostic through a partnership with Plantix A.I enabled tools. I have personally used Plantix being an agronomist and hope this will provide answers more contextual to our local pests and diseases. Such AI-enabled tools are only supposed to get better with time and this is truly one of the most fundamental digitization I could hope for at University so Looking forward to their future offerings!
• Pakistan Microfinance Investment Company has released its report on a project by GROWTECH Services to raise financial inclusion and access to finance among small landholders. The report found 45 percent and 57 percent increases in per acre yield and income for Wheat, respectively and achieved multiple Sustainable Development Goals (SDGs).
• WWF and As Sammak Farm organized training workshops to educate coastal fishermen on the Biofloc fish farming technology that recycles waste nutrients as fish food, improves land & and water use efficiency and increases productivity for an environmental-friendly ecosystem.
• Poulta, Inc will be exhibiting its latest innovations in poultry farming to improve efficiency and sustainability at the Saudi Agricultural Expo 2023 in Riyadh from Oct 26-29 at the Riyadh International Exhibition Center.
• Pakistan Agriculture Research (PAR) partners with BANANA FESTIVAL bringing their excellence in agriculture data to the table. The highly anticipated festival organized by Tech Saeein is scheduled for the first week of November at Sindh Agricultural University which will host multiple sessions on Banana production technology, tissue culture techniques and post-harvest measures. Pakistan's Banana production stands at 214,000 tons during 2021-22 according to government data with nearly 90 percent production coming from Sindh. Production is poised to grow to 700,000 tons in coming years as Pakistan Agricultural Research Council (PARC) and the private sector are massively producing tissue culture plants at a commercial scale. But it demands a dedicated post, will try my best to come up with it near future.
• 'Animal Passport' developed by Syed Umaid Ahmed , Engr. Muhammad Rizwan Khan and their team has been formally copyrighted in IPO by the Government of Pakistan. The innovative solution aims to prevent cattle theft and claims to be the first solution to use animal's own identity instead of RFID and tagging which are implanted and will be expanding to other animals too in the future.
• Agrilift has mobilized 70+ agriculture professionals across the country in an intensive cotton data capture campaign and has covered 100,000 fields (and counting) since July.
• Agritech took centre stage at the third Digi Leaders Global Awards Pakistan conference which highlighted digital transformation in agritech and various other sectors. Panels discussed bridging tech-farming gaps, startup success, media evolution, climate change challenges, health tech transformation, fintech innovations, and retail's digital journey.

International Agritech Ecosystem:

• BlueNalu Bags $33 Million In Series B: US Cultivated Seafood Startup BlueNalu raised $33.5 Million Series B from 'new and existing' investors for scaling up production for a small-scale launch with plans for a large-scale plant in 2026. Unlike other cultured meat startups, BlueNalu aims to launch whole-muscle bluefin tuna toro, a premium product that CEO Lou Cooperhouse terms ”the Wagyu beef of the sea”. Analysts expected it could fetch margins north of 70% with a large-scale facility. Source: Sea Food Source
• French precision fermentation startup Bon Vivant has raised €15 million (about $15.9 million) in a seed funding round led by Sofinnova Partners and Sparkfood . The company uses biotech techniques to reprogram yeast microorganisms for producing animal-free Whey and Caseins proteins. Bon Vivant will use the funds to scale its production capacity, obtain regulatory clearances, and open a lab in Lyon for accelerated testing and development. It differentiates itself by not being a competitor but rather a supplier to the conventional food & and dairy industry. Source: Tech Crunch
• Indian Renewable Startup SAEL raised roughly $60 million from the Norwegian Climate Investment Fund managed by Norfund . The company aims to create agriculture waste to energy and seeks to use these funds to grow its portfolio to 3GW over the next five years, adding 100MW of new biomass, and 400MW of new solar capacity annually. Source: Norfund
• Philippines KITA Agritech , Agribusiness Fintech raised $3 million from Gentree Fund and Altara Ventures to Improve inventory management and reduce operational costs associated with natural disasters and inputs. Source: Tech In Asia
• Wanda Fish raised $7 million to optimise technology and accelerate the scalability of cultivated whole-cut filet of bluefin tuna prototype. Source: Tech Crunch
• Aquaculture Unicorn eFishery Plans Indian Expansion: eFishery, a leading aquaculture technology firm, plans to export Tilapia to the US, alongside its current shrimp exports, following a recent $200 million Series D fundraising. The company aims to establish a direct-to-consumer brand, start regional expansion in 2024, and commence commercial operations in India. eFishery, valued at $1.3 billion, focuses on sustainability and quality growth, serving over 200,000 fish farmers across Indonesia and introducing a blockchain-based digital cooperative for streamlined operations and product sales. Source: Deal Street Asia
• AeroFarms shake-up continues as co-founder Marc Oshima stepped down as CMO amid a challenging year for the indoor vertical farming company, which included filing for Chapter 11 bankruptcy and closing its New Jersey facility. Oshima, proud of the company's industry contributions, has not disclosed his next move. AeroFarms has successfully emerged from Chapter 11, focusing on commercial production at its Virginia farm and nearing profitability. Source: @Mark Oshima
• Mycionics Inc. and Christiaens Group BV are collaborating to offer a robotic mushroom harvesting solution for the Drawer System. The robotic harvester, capable of picking 45 mushrooms per minute, aims to address labour shortages in the mushroom farming industry and has already secured contracts with three major mushroom farms for integration in 2024.
• Bright Green Partners (BGP) launches the World's Largest Alternative Protein Network, utilizing a global network of 2,000+ experts to provide insights and solutions for the plant-based, fermentation, and cultivated protein sectors. Addressing industry challenges, BGP aims to offer on-demand access to specialized knowledge and freelance work opportunities, contributing to industry growth.
• Indian Agritech DeHaat, is on track to achieve EBITDA positivity in FY25, with a robust 55% YoY revenue growth, reaching Rs 1,997 crore in the last fiscal year. It has extended its last-mile supply chain to over 110,000 villages in 11 states across India through 12,000+ 'DeHaat Centers,' have onboarded 2,000+ businesses and serves 2 million+ farmers offering a comprehensive agri value chain, including high-quality inputs, farm advisory, financial services, and market linkages. Source: Your Story
• The UAE government is focusing on its food and agriculture sector, aiming to create 20,000 jobs over the next five years, with salaries ranging from Dh12,000 to Dh50,000. The sector is expected to contribute $10 billion to the nation's economy. Roles in demand include geneticists, nutritionists, agriculture engineers, and experts in food technology. The government is actively supporting local food manufacturing for food security, and there's a shift towards agritech, with lucrative pay scales in the range of Dh16,000 to Dh20,000 per month. Agri-tech positions demand skills in digital interventions, analytics, and platform development. Source: Gulf News
• Mint reported on how Indian VCs are drawn to upstream Agritech startups, representing 25 percent of the total agritech funding in 2022. India's agritech sector is thriving with over 1,500 startups, 17 of which boast a gross merchandise value exceeding $100 million, benefitting more than 15 million farmers. The upstream ventures in 2022 raised $617 million, marking a substantial 50% increase. While overall venture capital funding for agritech dropped by a third to $2.4 billion, upstream agrifood tech startups emerged as a bright spot, showcasing a potential shift in the sector. Source: LiveMint