Noida-based grain commerce platform Arya.ag has acquired agriculture data science startup Prakshep for an undisclosed amount. 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.
In January this year, Arya.ag had raised $60 million in a Series C round from Asia Impact SA and returning investors Lightrock India and Quona Capital
According to the company’s statement, the acquisition will help in strengthening Arya’s vision of bringing cutting-edge AI/ML capabilities to farm digitization, crop monitoring, quality assaying, and surveillance. The company will further deepen its relationship with other agchain stakeholders like FPOs, processors and corporates, banks, and insurance companies.
Arya.ag says it 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, and quality assurance for seamless commodity commerce.
The Noida-based company 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.
Currently, the company is 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 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% reduction in crop damage, 40% reduction in use of chemicals, 35% reduction in water usage and a 30% 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.