Rosselkhozbank experts conducted an analysis of the Russian agricultural technology market in 2022, as a result of which they identified more than 220 startups operating in the domestic agricultural sector and having innovative solutions from the level of a working prototype, reports official website of the organization.
In Russia, in 2022, the number of agrotech start-ups increased by 30% compared to the previous year. Such dynamics confirms the presence of relevant niches and demand for agricultural technologies, which is satisfied by start-ups that are ready to develop and offer appropriate optimal solutions.
In the Russian agricultural technology market in 2022, at least 220 agricultural technology start-ups are at least at the MVP stage (in the phase of successful development of a “minimum viable product”).
Biotechnologies (more than 24% of all startups) turned out to be the most popular agrotech direction among startups – technologies that involve the use of living organisms, cultured cells and biological processes for the production of substances and products. In this area, projects are distinguished that provide for the processing of organic waste with the help of insects (Entoprotek, Image engineering and others), alternative methods of protein production (Zeronix), as well as innovative biological products to improve the efficiency of agriculture (Ecogen,biocraft etc.).
The second most common (more than 13%) is occupied by Internet of Things (IoT) solutions, which are based on the installation of devices and sensors capable of measuring, transmitting and accumulating data, as well as interacting with each other over the network. Startups offer agro-enterprises intelligent monitoring systems and video analytics to calculate the analysis of animal behavior (Napoleon IT, connectomi.ai etc.), sensors for monitoring soil temperature and moisture (Agroweather).
The third place went to “precision farming” technologies (about 12%), which help control the application of different rates of seeds, fertilizers, herbicides and other substances to different areas of the field based on data received from satellites, drones and other devices. In this segment, startups specialize in the development of digital field models (Harvest Map), yield mapping (Green Growth ), aerospace data collection (Aerospace-Agro), laser stimulation of plants (Novbiotech) and targeted application of fertilizers, herbicides, ethnomophages (AssistAgro, Flyseeagro and others).
“In 2022, we expanded the areas of work with agrotech start-ups. In particular, it launched AgroInvest Club, where we regularly demonstrate startup solutions implemented in the agricultural sector and prepare analytical reports for potential investors. It is important for us to develop the bank's product line based on the best agrotechnological solutions. That is why we are leading a high-quality funnel of agrotech startups: we are closely monitoring both new solutions that appear on the market and the development of existing companies. This allows us to see trends and respond sensitively to the requests of our customers - farmers, as well as members of the Club, ”says Elena Baturova, director of the Center for the Development of Financial Technologies of Rosselkhozbank.