A decade after the term “unicorn” was made to mark private startups valued at $1 billion or more, the number of these companies hit more than 1,500 globally, with a collective value of more than a whopping $5 trillion. But joining the global unicorn club has become much harder than before despite huge investor interest in some markets.

According to Crunchbase data, only 95 companies joined the global unicorn list last year, one-third of the figure seen in 2022 and six times less than the number of new unicorns in 2021, still the record year by the number of new $1 billion worth startups.

Of the 95 companies that hit a valuation of $1 billion or more, one-fifth, or 20, were from the AI sector, mainly from the generative AI market. These companies have collectively added more than $35 billion in value to the global unicorn club. Statistics show fintech was the sector with the second-highest number of new unicorns, with 14 in 2023. Cleantech, energy, and semiconductors followed with 12 and 9 new unicorns, respectively. Analyzed by geography, almost half of all new unicorns were from the United States. Another 24 were from China, while India and the United Kingdom had three.

With 20 new companies joining the global unicorn list in 2023 and three more in the first quarter of this year, the total number of startups in the AI sector valued at $1 billion or more hit 214.

The generative AI company, OpenAI, is the most valuable among them, with a valuation of $80 billion as of this month, $15 billion more than the Chinese ecommerce giant Stripe or the US payments provider, Stripe. Statistics show Databricks is the second most valuable AI unicorn globally, with a valuation of $43 billion. The San Francisco-based AI safety and research company, follows with a $16 billion valuation, respectively.

The full story and statistics can be found here:  https://altindex.com/news/ai-companies-unicorns

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Generative AI’s Skyrocketing Growth:

Data from AltIndex.com reveals that the generative AI market is projected to become a formidable $100 billion industry by 2026. This forecast underscores the immense growth potential of generative AI, marking a significant evolution from its modest beginnings.

OpenAI’s ChatGPT: A Turning Point:

The release of OpenAI’s ChatGPT marked a watershed moment for the global AI industry. ChatGPT, the fastest-growing app in history, garnered 100 million users within two months, propelling artificial intelligence into the forefront of technology narratives in 2023. While ChatGPT stands out as a prime example of generative AI, other tools like Character.ai, DeepL, Quillbot, Midjourney, and Capcut have also gained widespread popularity, contributing to the market’s exponential growth.

Market Size Surge:

Between 2020 and 2023, the market size of generative AI experienced an extraordinary surge of 690%, soaring from $5.7 billion to an impressive $44.9 billion. This indicates a consistent doubling in market size over the past three years, with annual growth rates fluctuating between 93% and 106%.

Projected Growth and Market Dominance:

Although Statista predicts a slowdown in the annual growth rate in 2024, the overall market value is anticipated to soar by 48.4%, reaching $66.6 billion. The robust double-digit growth is expected to persist, culminating in a staggering $100 billion market valuation by 2026, reflecting a remarkable 65% increase in just two years. By 2030, this figure is anticipated to surpass $207 billion.

Global Landscape:

In global comparison, the United States is projected to retain its status as the largest generative AI market, expected to reach $37.3 billion in value by 2026, representing a 60% increase from the current year. China, the second-largest market globally, is set to experience a substantial growth of 72%, reaching a valuation of $14.7 billion in the next two years. The German generative AI market follows closely with a projected 60% two-year increase, reaching a valuation of $4.5 billion by 2026.

Generative AI’s Share in the AI Industry:

The escalating demand for generative AI tools positions it as a significant revenue stream within the AI industry. Statista anticipates that generative AI will constitute 24% of the total market value by 2026, up from 20% in the current year.

User Growth and Market Expansion:

Generative AI tools, including ChatGPT, Character.ai, DeepL, Quillbot, Midjourney, and Capcut, have played a pivotal role in the exponential growth of AI users. In 2023, approximately 254 million people utilized AI tools, marking a 2.5-fold increase from 2020. With an annual increase of roughly 60 million users, the entire market is projected to surpass half a billion users by 2027.

The full story and statistics can be found here:  https://altindex.com/news/generative-ai-billion-industry

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With the acquisition, Synup aims to expand their business suite for agency and reseller clients.

Founded in 2020, Clientjoy has successfully served over 16,000 clients spanning 90 countries. A multi-functional platform for both agencies and freelancers, the platform offers CRM capabilities, docu-signing, invoicing, appointment scheduling, email cadences, client-portal and more. With Clientjoy, agencies can manage their entire client life-cycle on one platform.

Ashwin Ramesh, the founder and CEO of Synup, said, ” We’re thrilled to announce our first major acquisition. This acquisition isn’t just about growth; it’s about expanding our capabilities and delivering value to our partners.”

Founded in 2014, Synup offers multi-location management tool for its listings management, reputation management, store locator, and social media management capabilities.

Yash Shah, co-founder and CEO of Clientjoy, said, “We’re excited to be joining the Synup team. We started Clientjoy with the vision of making life easier for agencies with a streamlined platform, and Synup shares that same crucial vision.”

The collaboration marks a new frontier for B2B SaaS companies. While being an all-in-one solution is a common phrase thrown around in the industry, Synup is taking the steps to embody that ideal.

“We’re redefining industry standards with this addition,” stated Ramesh. “We’ll be integrating Clientjoy’s features into our existing offering throughout Q1, and I’m thrilled to announce all of the exciting changes to come.”

Clientjoy is looking forward to the collaboration opportunities, too. With key members joining the Synup team, including co-founder and CPO Anupama Panchal, the offerings only stand to improve.

About the acquisition, Clientjoy co-founder and CPO Anupama Panchal said: “We dedicated a significant amount of time managing an agency and engaging with Clientjoy’s agency customers. Throughout our journey, we pinpointed various challenges and opportunities in the market that could be addressed through technological solutions. As we delved into the prospect of collaborating with Synup, it became evident that both parties shared a common goal of ensuring agency customers’ success. We are excited to be a part of the Synup family and look forward to contributing to the development of a brighter future for agencies.”

Besides the acquisition and joining of the two companies’ teams, they’re making no immediate announcements about the enhanced offerings. Following the announcement and joining of the two platforms, they’re planning to roll out more capabilities for all of their clients.

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The StartUp Mumbai Challenge named ‘Forever Planet’ signifies a forward-looking commitment to nurturing early-stage startups, specifically focusing on sectors like sustainability, entertainment, media, sports, and lifestyle enhancement. Beyond being a competition, it offers a transformative journey, providing selected startups with robust support, funding, mentorship, and market access through Turbostart’s extensive network. 

Participating startups would get the unique opportunity to receive mentorship from some of the brightest entrepreneurial minds and also funding up to USD 500000.

The panel of Mentors for the StartUpMumbai Challenge are some of the most inspirational leaders in business and innovation: Anand Mahindra, Chairman- Mahindra Group, Ronnie Screwvala, Chairman- Swades Foundation, Vikas Agnihotri, Director- InMobi and GlobalBees, Kaustubh Dhavse, Joint Secretary and OSD to the Deputy Chief Minister- Govt of Maharashtra and Harsh Jain, Founder-Dream11.

Highlighting the importance of StartUp Mumbai Challenge, Hon’ble Minister of Tourism and Rural Development, Shri Girish Mahajan said, “The launch of this ‘Forever Planet’ challenge will position Mumbai as a global nucleus for innovation and sustainable development. This ground-breaking StartUp Mumbai Challenge is a call to action for budding entrepreneurs to contribute their transformative ideas towards a sustainable future. Accompany us on this entrepreneurial journey as we strive to establish Mumbai as a worldwide hub of innovation, originality, and dedication to a robust and sustainable future”.

Wizcraft Entertainment Agency Pvt. Ltd., known for creating immersive experiences, is a key collaborator, ensuring that the Mumbai Festival 2024 celebrates business, culture and entrepreneurship and becomes a beacon of innovation and enterprise. 

The challenge is open to all startups, demonstrating a strong founding team, innovative technology, scalability, and impactful solutions. Top contenders stand to win up to USD 500,000 in funding and various other benefits, including mentorship, market access, and branding opportunities. 

Anand Mahindra, Chairperson, the Mumbai Festival Advisory Committee, renowned global entrepreneur and esteemed mentor, exclaimed, “The initiative’s dedication to nurturing environmentally impactful startups resonates with the principles I’ve always advocated in my own business. Fostering an ecosystem where these startups can thrive and meaningfully change the landscape of sustainable innovation is vital, and I am glad to play my part.”

Ronnie Screwvala, Chairman, Swades Foundation, one of the most active investors in innovation and startups, who will be present at the event as a mentor said, “Today, as we stand on the precipice of unprecedented environmental challenges, it is imperative that we empower the next generation of innovators to drive sustainable solutions forward. The Forever Planet Challenge is an invitation to make a difference. Together, we can create a lasting impact on our planet, and I am excited to witness the innovative solutions that will emerge from this transformative challenge.”

Emphasizing on government’s efforts and intent to build a sustainable future, Kaustubh Dhavse, Joint Secretary, Govt of Maharashtra, focused on innovation, investments and startups, said “Prioritizing sustainability is crucial for our collective future. The event aligns seamlessly with our vision for positive environmental impact. This initiative reflects the power of partnerships between the public and private sectors. Anticipating impactful solutions to emerge, shaping a greener and more sustainable future.”

“The startup landscape is evolving rapidly, and sustainable solutions are not just a necessity but a strategic imperative. The Mumbai Festival’s vision for the Forever Planet Challenge presents an exciting opportunity to support and catalyze the growth of startups that will redefine the future of sustainability. One must commend the pioneering efforts of Maharashtra’s Tourism ministry, Wizcraft and Turbostart.’ said Vikas Agnihotri, Director InMobi and GlobalBees, till recently Operating Partner of Softbank Vision Fund India, a mentor at the challenge.

Harsh Jain, CEO & Co-Founder, Dream11 & Dream Sports said,“Mumbai is one of the largest start-up hubs in India, and as the financial capital, offers unlimited opportunities for entrepreneurs. The Forever Planet Challenge provides founders with a fantastic platform and underscores the pivotal role that technology can play in addressing global climate challenges. As a Mumbai start-up, it is heartwarming for us at Dream Sports to see startups receive the support they need to turn their innovative ideas into scalable solutions.”

Ganesh Raju, Founder-Turbostart, expressed enthusiasm about extending Turbostart’s successful platform to the Mumbai Festival 2024. At Turbostart, we are excited to witness the fusion of innovation and sustainability at the Mumbai Festival 2024. “Launched in 2019, Turbostart is a global fund & accelerator specializing in handpicking outstanding early-stage startups through a unique cohort format. Over the last four years, Turbostart has invested in approximately 40 startups, nurturing them into industry trailblazers. This collaboration with the Mumbai International Festival 2024 aligns seamlessly with our vision, offering an unparalleled platform for eco-conscious startups to showcase transformative solutions and fostering a global movement towards sustainable entrepreneurship.”

Jayshree Bhoj, Secretary, Tourism, Government of Maharashtra said, “StartUps are the best opportunity to encourage entrepreneurship among our youth to become job creators and contribute to the country’s fast-growing economy. The StartUp Mumbai Challenge is particularly exciting with its focus on environment-friendly business ideas. We are grateful to the esteemed panel of mentors for shouldering the responsibility to guide our youth in this area. The Forever Planet Challenge not only provides a platform for these visionaries but also underscores the pivotal role that innovation plays in addressing global challenges. It is a unique opportunity for startups to receive the support they need to turn their innovative ideas into scalable solutions.”

Sabbas Joseph, Founding-Director, Wizcraft Group, emphasized, “We are not just creating an event; we are cultivating an ecosystem that thrives on innovation, resilience, and entrepreneurial spirit. Mumbai Festival 2024, with the StartUp Mumbai Challenge, is a testament to Mumbai’s unwavering commitment to progress and transformation. The StartUp Mumbai Challenge is being organised to drive attention to the need for innovation and technology to create businesses that can help align our lifestyle to being planet-friendly.” 

This challenge is more than an opportunity; it’s a call to action for all visionaries, disruptors, and change-makers. Mumbai invites the brightest minds globally to join this movement and contribute to shaping the future of a city that never sleeps.

Join us in celebrating innovation and entrepreneurship at the Mumbai Festival 2024.

For more information on the StartUp Mumbai Challenge and to participate, visit https://apply.turbostart.co/register.

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The Hitachi Money Spot UPI ATM promises customers a unified and secure user experience while providing the convenience of card-less cash withdrawals. Furthermore, it aims to drive financial inclusion by facilitating easy access to banking services, particularly in regions where traditional banking infrastructure and card usage are limited.

Leveraging cutting-edge technology, the Hitachi Money Spot UPI ATM offers a seamless digital experience for customers. Hitachi Payment Services has consistently been at the forefront of introducing innovative payment solutions and currently stands as the sole White Label ATM operator to offer Cash Deposit facilities, available at over 3,000 ATM locations.

Sumil Vikamsey, Managing Director & Chief Executive Officer – Cash Business, Hitachi Payment Services, said, “As India’s leading end-to-end payments and commerce solutions provider, we are happy to launch an industry-first offering in the White Label ATM space with Hitachi Money Spot UPI ATM. This novel offering empowers any bank customer to experience the convenience of QR-based UPI cash withdrawals. UPI has been the fastest growing payment mode in the country and accounts for more than 50% of digital transaction volumes. The Hitachi Money Spot UPI ATM is a testament to Hitachi Payment Services’ technological capabilities and commitment towards making innovative banking services accessible to citizens across the country.”

Mahesh Patel, Director – Products and Digital Transformation, Hitachi Payment Services, said “We are excited to launch the country’s first-ever UPI ATM on Android platform for our White Label ATM network in association with NPCI. The Hitachi Money Spot UPI ATM is built on Android OS and brings in significant possibilities of transitioning from legacy architecture of transaction processing and ATM management to offering solutions in line with evolving technology. We believe the UPI ATM is a major milestone in the banking landscape.”

National Payments Corporation of India (NPCI), said, “We are delighted to empower customers with this innovative and customer-friendly enhancement for ATM transactions. The launch of the ‘UPI ATM,’ will mark a significant milestone in banking services by seamlessly integrating the convenience and security of UPI into traditional ATMs. This innovative concept is designed to provide quick access to cash even in the remote areas of India without the need for a physical card. “

Hitachi Payment Services has been a pioneer in the Indian payment industry, offering a comprehensive range of payment solutions, including ATM Services, Cash Recycling Machines, White Label ATMs, POS Solutions, Toll & Transit Solutions, Payment Gateway Solutions, and innovative offerings like SoftPOS, POS Value Added Services, and next-gen mobile-based merchant platforms that enable end-to-end services. The company remains dedicated to delivering exceptional customer experiences and promoting financial inclusion throughout India.

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Virtusa:

Virtusa specializes in AI-driven cybersecurity solutions tailored for ecommerce businesses. Their expertise includes threat intelligence, fraud detection, and secure data management. Virtusa collaborates closely with ecommerce businesses to create customized defense strategies, ensuring that your unique security needs are met.

FireEye:

FireEye’s cybersecurity solutions are powered by advanced AI and machine learning algorithms. They excel in detecting and mitigating threats in real-time, safeguarding your ecommerce platform from evolving cyberattacks. FireEye’s AI analyzes user behavior to spot anomalies, helping you identify potential fraud or security breaches. This proactive approach minimizes risks associated with fraudulent transactions.

Noventiq:

Noventiq’s expertise lies in facilitating and enabling digital transformation processes, empowering their customers to adapt to the evolving digital landscape. It provides cloud protection services and AI algorithms, ensuring that customer data and applications hosted in the cloud are secure and protected from unauthorized access. They can also develop and deploy an AI power assistance to ease the shopping experience.

Sophos:

Sophos employs AI to enhance threat detection and response. Its AI-powered solutions can identify and block threats at various entry points, from email to web traffic. As more ecommerce businesses migrate to the cloud, Sophos offers cloud-specific AI solutions that protect your data and applications in cloud environments.

NortonLifeLock:

NortonLifeLock’s AI-powered endpoint security solutions provide robust protection against a wide range of threats, from phishing attacks to malware. With ecommerce relying heavily on customer identities, NortonLifeLock offers AI-driven identity protection services to ensure customer data remains secure.

In the world of ecommerce, cybersecurity should never be an afterthought. These five cybersecurity brands, armed with AI technology, can help you secure your digital shopping experience. By investing in advanced threat detection, behavioral analytics, and proactive threat hunting, you can fortify your online store’s defenses and build trust with your customers. Don’t compromise on security; embrace AI-powered cybersecurity to safeguard your ecommerce business in the face of evolving cyber threats.

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1. ParkMate:

Founded in 2021, ParkMate India’s first intelligent app-based platform, providing ingenious hyperlocal and on-demand parking solutions for both customers and companies. With its innovative “Drop & Shop” service, patrons receive real-time parking spot confirmations. The system ensures secure parking with OTP-verified and GPS-tagged drivers and attendants, allowing users to monitor their vehicle’s progress in real-time. The consumer merely needs to click “Get my car” when they actually need their vehicle, and it will be delivered to them safely. ParkMate offers a range of services, including the revolutionary Trishool parking management system and the efficient Kavach system designed for apartment complexes and vehicle dealerships. Their comprehensive Trishool system seamlessly integrates FASTag + ANPR + UniPay technology, automatically scanning license plates and granting or logging vehicle access using high-definition cameras, an integrated controller, and proprietary software. With ParkMate, the motto is simple: “You drive. We park.”

2. Park+:

Initially focused on connecting commuters with secure parking spaces across the nation, Park+ has expanded its services to encompass all automobile-related needs. From convenient parking solutions to insurance renewals, FASTag-related inquiries, and challan payments, Park+ aims to simplify the entire car ownership experience. Their underlying principle revolves around simplification, embracing the notion that “change will always be the only constant.”

3. Parking Rhino:

ParkingRhino emerges as a contemporary parking management firm catering to both individual customers and businesses alike. Their user-friendly B2C app streamlines the process of finding suitable parking spots, while the innovative B2B platform empowers parking contractors and companies to efficiently manage parking operations through a unified POS mobile app. Thanks to its intuitive design and compatibility with diverse parking equipment such as boom barriers, CCTVs, and parking sensors, the platform can digitize a parking space within a remarkably short span of 60 minutes.

4. Park 360:

At Park 360, the team recognizes that as parking spaces decline and the vehicle count surges, the issue will only worsen. To tackle this concern, they collaborate closely with smart cities, governmental bodies, enterprises, commercial complexes, residential communities, and other institutions to devise tailor-made solutions. Leveraging advanced data analytics and a data-driven approach, Park 360 meticulously crafts optimal parking, revenue, and cost models for each unique scenario. Additionally, their solutions enhance security and transparency throughout the parking management process, granting users real-time insights into the parking infrastructure.

5. Aarshvi Security Systems:

Aarshvi Security Systems PVT. LTD. remains dedicated to providing consumers with specialized automated parking solutions, electronic security systems, and fire alarms. Backed by a highly skilled team with a combined industry experience of over 15 years, the company is well-equipped to deliver end-to-end solutions across corporate, industrial, and retail sectors. The uniqueness of Aarshvi’s solutions has firmly established the company’s reputation as a market leader.

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Type Certificate for drones is an official document issued by the Directorate General of Civil Aviation (DGCA) certifying that a specific type of drone meets all the technical parameters and safety standards for operation in India.

Gurugram-headquartered IoTechWorld Avigation is one of the major players in the krishi-drone market in the country.

Commenting on receiving of Type certification for AGRIBOT A6, Company’s Co-Founder and Director Mr. Deepak Bhardwaj said, the newly launched ‘AGRIBOT A6 drone’ is 30% more compact compared to the previous model of ‘AGRIBOT’ and much more stable and reliable.

“Despite advanced design of AGRIBOT A6, we have not increased its price. We want to increase adoption of drones in India & provide complete handholding to users. AIF is available for AGRIBOT A6 in which 90% collateral free loan is available at 3% subvention on the interest rate,” he said.

AGRIBOT A6 is available in 3 variants – Bike, Backpack and 4-wheeler models across the country and desirous customers may buy it either from its wide network of dealers or from the company directly.

“We are the pioneers of Krishi-drone in the country and were privileged to receive the country’s first type certification from none other than Union Civil Aviation Minister Mr. Jyotiraditya Scindia last year. The latest type of certification received for our product AGRIBOT A6 is a testimony of our continuous endeavour to develop high-quality and innovative products,” said Mr. Anoop Upadhyay, another Co-Founder and Director of the company.

He further said that from a farmer’s perspective, a AGRIBOT A6 drone is very easy to transport and operate because of its compact design.

“AGRIBOT-A6 has global quality standards, and with the liberalized export policy recently announced by DGFT, AGRIBOT-A6 has larger access to the global markets. We are quite confident that this new model will get a good response,” he said.

IoTech is credited with pioneering ‘Bike model’ which could be easily transported on a motorcycle to fields.

IoTechWorld has established partnership with agrochemical company Syngenta and has undertaken more than 25,000 kms of drone yatra in various parts of the country.

IoTechWorld aims to sell more than 3,000 drones in the current financial year. It is also exploring opportunities for export in regions like SAARC, South East Asia, Latin America, Africa etc.

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Taking inspiration from the Thrasio model, his platform will adopt a similar incubator approach but with a unique twist. Instead of buying out established companies, Nanda’s team will focus on building companies from the ground up, fostering boutique brands in the process.

The Thrasio model has been successful in acquiring companies once they reach a certain level of growth. However, Nanda’s aggregator model will be different, as it aims to bring together a vast network of unorganized merchants under a single major site.  Bitten Holding is a representation of this singular journey, starting from nothing and growing to Rs. 50 crore before handing the reins over to deserving institutions.

The mission is to empower many young people to become entrepreneurs by providing them with the resources and encouragement they need to launch their enterprises with a 95% success rate. The strategy coordinates their financial requirements, general management skill sets, marketing support, and sales networks to ensure they can progress without facing any setbacks. 

While talking about the aggregator model, Mr. Saurabh Nanda said, “The goal is to enable many young people to become entrepreneurs by giving them the tools and encouragement they need to start their businesses with a staggering 95% chance of success. To ensure they can advance without experiencing any setbacks, the strategy coordinates their financial requirements, general management skill sets, marketing support, and sales networks. An optional exit strategy is provided as they develop into well-known brands, enabling them to attract larger investment funds that are actively looking to invest in them.”

The platform aims to unite these boutique brands as a collective cooperative, fostering a supportive and innovative environment across various industries. Nanda’s ultimate vision is to create a coalition of 100 businesses, each achieving revenue milestones ranging from 25 to 50 crores within the first one to three years. This collective effort will establish a substantial corporation with an estimated budget ranging from 2500 to 5000 crore.

Saurabh Nanda is a co-founder and managing director for all of the businesses and startups with which he is involved. He has an MBA from the Goa Institute of Management and is committed to the development and expansion of these businesses. He also has various brands under his umbrella, such as Combonation, coloressence, nature essence, Nutki, Babiecorn, Debsm Asia, Bemisales media, luxelane, Fabuleux gifting solutions, Manestream, frootpaste, Scent %, Not coming soon, The Sillohuete Store, Be Aloud, Ondego, and La Perfe.  Saurabh is working on an ambitious plan to establish a cutting-edge school of entrepreneurs to nurture and empower 101 aspiring business leaders in a short period of time. If you are a young professional with a path breaking business idea and execution capability or a parent wanting to set up their kids on a probable successful start up, come be a part of the biggest cooperative business start up revolution.

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At present, India has several agritech companies that are leveraging technology to make farming more efficient and sustainable. These companies offer solutions to help farmers manage their crops better, optimize yields, reduce wastage, and improve profitability through innovative products and services including drones, precision farming, farm management software, crop monitoring tools, and e-commerce platforms.

Mentioned below are top 7 Indian agritech companies that are driving innovation and transforming farming in the country.

AVPL

AVPL is a leading agritech company that specializes in agri training, overseas placements, and drone manufacturing. Founded in December 2016 by Deep Sisai, a young first-generation entrepreneur, AVPL’s primary objective is to promote self-employment among farmers by training drone pilots through government schemes and NBFCs. Their goal is to support farmers across thousands of Indian villages by training 64,800 dronepreneurs and establishing 80,000 marts within the next 5 years. AVPL also plans to establish 100 Remote Pilot Training Organizations and Centers of Excellence during this period.

AVPL has earned accreditations as a Training Provider with National Skill Development Corporation (NSDC) and Haryana Skill Development Mission, and as a Project Implementing Agency with DDU-GKY. They are also a registered Training Partner with state governments and sector skill councils. AVPL’s candidates have received certificates from Prime Minister Shri Narendra Modi Ji. The company has formed partnerships with organizations such as EdCIL India Limited (EdCIL), Telecommunications Consultants India Limited (TCIL), Indian Telephone Industry Limited (ITI Limited), and The Bharat Scouts and Guide.

Absolute

Absolute is a Delhi-based bioscience company founded in 2015 by Agam Khare and Prateek Rawat. They specialize in precision agriculture solutions that utilize phytology, microbiology, and AI technology. Their software controls farm hardware systems and collects data from various sources, including IoT devices, sensors, and satellites. This data is analyzed using proprietary machine-learning algorithms to generate actionable insights.

Absolute operates through three platforms: BioX, a plant bioscience R&D platform; FARM OS, a farm operating system; and a global trade platform for produce. FARM OS provides farmers with valuable insights based on data from sensors, satellite feeds, and other sources, ensuring optimal conditions for crop growth. The company has successfully implemented its solutions for over 15,000 farmers and boasts a team of over 100 scientists.

AgNext

AgNext Technologies is a leading agri-tech company in India that specializes in deep-tech solutions for food quality assessment and management. Founded in 2016 by Taranjeet Singh Bhamra and Mrigank Sharad, AgNext aims to bring cutting-edge technology to agriculture, enabling data-driven decision making and improving the efficiency and sustainability of the agricultural value chain.

By integrating advanced technologies like AI, ML, IoT, computer vision, and data analytics, AgNext has developed a comprehensive solution called ‘Qualix.’ This solution enables rapid assessment of food quality and has multiple applications, including crop quality assessment, food safety and traceability, supply chain management, and predictive analytics. AgNext’s solutions provide accurate analysis of nutritional content, maturity, and contaminants in crops, empowering informed decision making. Their traceability solutions ensure food safety and regulatory compliance, while their predictive analytics solutions offer data-driven forecasts for optimizing crop management practices.

DeHaat

DeHaat is an Indian agritech company that operates an online platform, empowering farmers with a wide range of agricultural solutions. Founded in 2012 by Shashank Kumar and Manish Kumar, DeHaat aims to enhance the farming experience by providing access to quality agri-inputs, advisory services, market linkages, and financial products through a digital platform.

DeHaat acts as a connecting bridge between farmers, suppliers, crop advisors, and buyers. It offers personalized crop advisory services and facilitates access to agricultural products like seeds, fertilizers, and pesticides. Additionally, the platform provides market linkage services, credit options, and tailored insurance products to meet the specific needs of farmers. Serving millions of farmers across multiple states in India, DeHaat strives to improve the efficiency, sustainability, and profitability of agriculture through technology-driven solutions and data-driven insights.

CropIn

CropIn is an agritech startup based in Bangalore, India, founded in 2010 by Krishna Kumar and Kunal Prasad. The company collaborates with various stakeholders in the agriculture value chain, including farmers, agribusinesses, food companies, and governments, to offer sustainable and profitable farming solutions. CropIn has secured funding from investors such as Chiratae Ventures, Invested Development, and Ankur Capital.

CropIn provides farmers with a digital farm management platform that leverages AI, machine learning, and data analytics to optimize crop production and facilitate data-driven decision-making. The platform offers a range of features including crop monitoring, pest and disease management, weather forecasting, farm analytics, and traceability solutions. Farmers can remotely monitor their crops, receive real-time weather and pest alerts, and access data-driven crop advisory services. Additionally, the platform enables tracking and tracing of produce, ensuring compliance with food safety standards. CropIn’s aim is to empower farmers with technology-driven tools and insights to enhance yields and improve farm operations.

Ninjacart

Ninjacart, founded in 2015 by Thirukumaran Nagarajan, Kartheeswaran K.K, Ashutosh Vikram, Sharath Loganathan, and Vasudevan Chinnathambi, is an Indian agritech startup that focuses on addressing supply chain inefficiencies in the agricultural sector. Since then, Ninjacart has expanded its operations to multiple cities in India, including Bangalore, Chennai, Hyderabad, Delhi, Mumbai, and Pune.

Their technology-driven platform connects farmers directly with retailers, eliminating intermediaries and ensuring the timely delivery of fresh produce at competitive prices.

Operating on a B2B model, Ninjacart sources produce directly from farmers and sells to retailers, restaurants, and other businesses. By leveraging data analytics and optimizing logistics, they ensure that the produce reaches customers within 12 hours of harvest. The company has secured significant funding from investors including Accel, Tiger Global, and Steadview Capital.

AgroStar

AgroStar is an Indian agritech company that utilizes a digital platform to provide agricultural inputs and services to farmers. Founded in 2013 by Shardul Sheth and Sitanshu Sheth, AgroStar’s mission is to enhance the efficiency and profitability of agriculture by leveraging technology to connect farmers with quality agri-inputs, agronomy advisory, and market linkages.

Through their mobile app and website, AgroStar enables farmers to access a wide range of agricultural products such as seeds, fertilizers, pesticides, and equipment. They collaborate with input manufacturers and distributors to ensure the availability of high-quality products. Farmers can conveniently browse products, compare prices, and place online orders for doorstep delivery.

AgroStar’s agronomy advisory services provide personalized crop management recommendations tailored to factors like crop stage, soil type, weather conditions, pests, and diseases. These recommendations are delivered through the mobile app or over the phone by experienced agronomists. Operating in multiple Indian states, AgroStar aims to empower farmers through their digital platform, fostering increased productivity, income, and improved livelihoods.

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