AGRIVI 360 Farm Insights: Providing real-time field insights to make better agronomic decisions
Summary
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Details
Deep dive
Main Features
Crop Management: Detailed recording of all field activities, from planting to harvesting. Provides real-time weather data and forecasts to aid in decision-making and planning.
Financial Management: Detailed tracking of costs associated with crop production, product sales, inventory, and other financial data. This facilitates the profitability analysis of different crops and fields.
Sustainability Monitoring: Full crop traceability feature enables monitoring of sustainability metrics for periodic reporting.
Data Centralization: Simplifies farm administration by storing all farm data in one easily accessible location
Target Users
Small and Medium-Sized Farms: AGRIVI 360 Farm Insights is targeted at small and medium-sized farms which constitute the vast majority of farms in the world, though operating only a small percentage of agricultural land. According to recent data (Source: World Development), around 84% of farms worldwide are small (less than 2 hectares). When including medium-sized farms (up to 100 hectares), this percentage increases further. Software such as Farm Insights can help smallholders simplify farm administration and make informed agronomic decisions and deal with other challenges that hinder the success of small and medium-sized farms.
Banks: Several banks around the world are known for their focus on agribusiness, offering financing solutions tailored to the agricultural sector. Data from Farm Insights can support banks in credit risk scoring of farmers. Banks can also use it to track the environmental footprint of their farmer portfolio and support farmers in adopting sustainable agronomic practices.
Pricing
Specific price information about the 360 Farm Insights software is not disclosed by AGRIVI on their website or elsewhere in the public domain. For accurate pricing information, farmers and banks might wish to contact the company directly. AGRIVI may provide custom quotes based on the specific needs and requirements of individual cooperatives or food and beverage companies. This allows them to tailor the pricing to fit the scale and scope of each client's operations effectively.
Case Study
Client: Telehuz Agriserv
Background: Telehuz Agriserv is a farming enterprise based in Romania, growing arable crops including sunflower, wheat, barley, and corn. Aiming to increase their productivity, Telehuz implemented AGRIVI software, simplifying their farm operations and improving decision-making using reliable and real-time field insights.
Challenge and Solution: The company needs to track multiple aspects of its farm operations, from field records on crops to farm sales and expenses data. Juggling different applications and paper notebooks made data management an overwhelmingly challenging task. AGRIVI provided a platform to improve their field operations and enabled the transition from excessive paperwork to making data work for the company, as remarked by their Farm Manager.
Impact: Exact information about how the use of the software affected specific performance indicators in the company is not publicly available.
Market Outlook
The Market for Farm Management Software (FMS) was valued at USD 2.81 Billion in 2023 and is projected to triple that amount by 2031 (source: verifiedmarketresearch), as demand rises for technologies to boost agricultural productivity and feed the world. Alongside AGRIVI 360 Farm Insights, other FMS used by small and medium farms include Litefarm, Agsquared, Veggiecropper, Farmbrite, and Mazaohub. Similarly, software products targeting agribusiness banks include Landxs and Kreditek Financial Access.
Among agtech products, FMS has the highest adoption rate of 21%, according to a 2022 survey of farmers (source: McKinsey). How much more the adoption of FMS and other cutting-edge smart farming solutions will expand is uncertain. In Africa, for example, where smallholders dominate agriculture, FMS adoption remains very low. Startups on the continent offering FMS solutions struggle to attract venture capital funding beyond the seed stage, raising only $335,000 million and $3.2 million in 2021 and 2022 respectively. This is due to low prospects for scale-up, among other constraints.
