Agcurate aims to ensure the resilience of 400 million smallholder farmers’ livelihood, i.e economic sustainability. We believe that without economic sustainability, the other dimensions of sustainability will not be satisfied and be “unsustainable” in the long-term. To achieve this ambition, we have gathered a 10 people team in less than 18 months since our foundation. We’ve applied to various space/agri-tech incubators/accelerators and funds for validating our market assumptions and understanding the agrifood value chain dynamics for building a viable agri-insurance business model. We participated in Startlife Accelerator, Bayer’s G4A, Copernicus Incubator and PARSEC Accelerator.Until now, we have initial customers such as Kynetec, Kleffmann and Cargill (Turkey) and we are delivering pilots and demos to Cargill (France), Bunge, Turk Traktor (New Holland), Bayer, BASF and more in 5 different countries. We have over 15 active accounts for each business we serve, pilot or partner.
What do you offer?
Agcurate delivers satellite imagery & machine learning based quick, cheap and flexible index-insurance products that enable a safety net for 400 million uninsured & unbanked smallholder farmers.We use various satellite imagery, process completely on the cloud and use our machine learning algorithms to detect fields, crops, production analytics and estimate yield for the current season and past seasons. We use the estimated yield data to design an index for our insurance products. We provide our data and analytics via our web platform and our APIs. We provide our services on our platform, charged annually and pricing depending on the analysis type and regions covered. We also provide our services via APIs in a revenue share or API call based model.
What are you looking for?
We have been looking to communicate with contract farming organizations and cooperatives to evaluate the farmer’s financial literacy, learn their level of awareness and interest in agricultural insurance products on demand side. Secondly, we want to contact agri-insurance (especially micro-insurance) firms to understand the current supply-side issues and market dynamics as well. Thereafter, we expect to understand the current challenges and bottleneck points in current insurance schemes to validate our assumptions regarding the market opportunity, size and necessary initial steps to enter these markets. The end aim is to find a potential use case through the insights derived from communicating with these organizations. A next step will be setting up a pilot by collaborating with agri-insurance firms and farmer’s organizations/cooperatives.