India: Arya.ag today announced the acquisition of agriculture data science company, Prakshep. With this acquisition, Arya reinforces its position as India’s largest integrated grain commerce platform and furthers its tech capabilities to provide end-to-end solutions to its users. This acquisition will help bolster Arya’s vision of bringing cutting-edge AI (artificial intelligence) and ML (machine learning) capabilities to farm digitisation, crop monitoring, quality assaying and surveillance. This acquisition will help Arya to further deepen its relationship with other agchain stakeholders like farmer producer organisations (FPOs), processors and corporates, banks, and insurance companies.
Arya.ag connects sellers and buyers of agricultural produce, providing complete assurance on quantity, quality and payments. The distinct digital offerings of Prakshep will add to Arya.ag’s deeptech capability to provide traceability, transparency, and 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.
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. Arya.ag promises to provide complete visibility and traceability of the commodity right from the producers’ field and build complete assurance for all stakeholders in the agri-value chain.
You may also like to read: How did Khetibuddy impact agricultural practices? See in its Agtech Impact Report…
Arya.ag 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 a reduced carbon footprint. Prakshep’s models have facilitated a 45 per cent reduction in crop damage, 40 per cent reduction in the use of chemicals, 35 per cent reduction in water usage and a 30 per cent fall in greenhouse gas (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.
Briefing about the acquisition, Prasanna Rao, MD & Co-founder, Arya.ag 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 have brought us together.”
Avijeet Singh, CEO, Prakshep said, “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 smallholder 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.”
(All facts are claimed by the companies. Agriculture Post doesn’t assume any responsibility or liability for the same.)