Arya.ag acquires autonomous AI agritech player Prakshep

Arya.ag today announced the acquisition of agriculture data science company, Prakshep.

With this acquisition, Arya reinforces its position as India’s largest integrated grain commerce platform and further its tech capabilities to provide end-to-end solutions to its users, it said in a press statement..

This acquisition helps to bolster Arya’s vision of bringing cutting-edge AI/ML capabilities to farm digitization, crop monitoring, quality assaying and surveillance. It will help Arya to further deepen its relationship with other agchain stakeholders like FPOs, processors and corporates, banks, and insurance companies, it added,

Arya.ag 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, quality assurance for seamless commodity commerce, it said.

Arya.ag is currently 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, it said.

Prasanna Rao, Arya.ag’s MD & Co-Founder said, “Leveraging our technology stack, we have already created a digital identity for over 1,0000 warehouses across India on Arya.ag and have built in transparency at all levels from aggregation to storage, finance, and commerce. Under this context, Prakshep’s tech-led proposition finds a natural fit as it enables a digital identity for every grain that traverses the value chain and builds in transparency in terms of where it was grown and the journey it has made.”

Avijeet Singh, Prakshep’s CEO said, “The transformation brought about by digital technologies in the conventional agriculture ecosystem while seemingly overwhelming has just scratched the surface. Through this partnership, we will be able to provide our users many more new offerings based on data, scientific research and analytics creating trust and transparency in all our transactions.”

Published on: Thursday, June 02, 2022, 01:18 PM IST