Australian startups will soon be leading the way in global agricultural technology, according to those working most closely with them. But that doesn’t mean they’ve got an easy road ahead.
Agtech has been an ongoing theme of 2018 so far, with several startups cropping up (pun intended) and raising millions to make life easier for the Australian farmers, producers and distributors.
In February this year, Agridigital, a startup using blockchain technology to track the grain supply chain, and to verify all deals throughout the chain, raised $5.5 million in a raise led by Square Peg Capital.
In April, another blockchain startup, BlockGrain, raised $3.5 million in an ICO pre-sale, before closing its ICO in July, having raised $4.63 million. The startup is intended to reduce inefficiency in agriculture, giving farmers and grain brokers better visibility of the supply chain, through a blockchain-based platform.
More recently, we have seen farming software startup AgriWebb — which promises to digitise the notebook in farmers’ top pockets — raise a huge $14 million from British agricultural investment company Wheatsheaf, which also included the acquisition of British software platform FarmWizard in the deal.
Stephanie Palmer-Derrien – SmartCompany – 11 October 2018