E-Mandi of India: Agribazaar
Agribazaar is one of the finest and innovative platforms for small farmers to sell their produce across India. They mainly work on transforming the agro value chain through technology. They mainly focus to deal with small farm owners in order to bridge the market gap and help those farmers get the right and deserving price for their produce.
It is not just about selling farm produce; potential buyers can purchase goods at a fair price tag with assurance of quality while mitigating counterparty risk and enabling secure payments. Company is mainly trying to empower millions to feed billions.
Currently they have over 1 lakh users, 33,000 listed auctions and over INR 14, 000 crore GMV as on June, 2020 on their digital platform. This organization has Artificial Intelligence (AI), Machine Learning (ML), big data, Internet of Things (IoT) and drones as tools in their mission. Back in 2017, Agribazaar launched a wallet named as ‘AgriPay’ that has facilitated transactions of over $1 Billion.
Agribazaar mobile application came into operations with main focus of eliminating middle-man trading system for farmers to earn the true value for their produce. The idea was focusing on catering farmers, traders, financial institutions, and governments together on one platform to integrate and create a transparent trading system.
After completing 5 years of existence in revolutionizing the agro-market system, they came up with providing a more delightful experience for end users by designing the mobile application easy to trade, faster & simple. With the launch of new UI, Agribazaar has bought in a lot of new features to make it more convenient for the stakeholders to create, explore or bid in trades of their own choice. USPs of the application are:
• Trade Creation in 3 steps: User can simply tap on ‘Create trade’ and fill in the commodity information. Then choose the ‘Quality parameters’ in the next step. And finally, select the ‘Billing and Delivery addresses’.
• Automatic Settlement: the platform offers transparent end-to-end automatic settlement options for both buyers and sellers.
• Zero brokerage: No involvement of middle-men while you trade your produce. Sell crops with zero brokerage interference.
• Tracking of logistics: goods can now be tracked in real-time with regular updates.
• Reach many bidders: Create a trade and reach out to a wide base of bidders in auctions at once.
• Better warehousing: improved warehousing management system with quicker access to facilities and instant payment directly to bank account.
• Daily Mandi Prices: now receive current mandi prices with a wide range of market prices for commodities and the availability of multiple mandis nearby.
“Agribazaar has provided convenience and ease to traders to carry out their business smoothly in the pandemic times”.
“Traders are well advised about their trades and market prices for the food grains and oilseeds being traded in bulk via the Agribazaar platform”.
“Our e-mandi centre at Alanpur, Rajasthan has given great opportunities to local farmers to get better prices for their stock”.
At Agribazaar, we believe new models of trading are required to meet the opportunities and challenges of modern agriculture. This is why our platform leverages cutting-edge AI for agri value chain optimization, resulting in increased yields and greater profit for small farm owners.
Today, agriculture accounts for 18% of our economy’s output and 47% of our workforce. India is the second largest producer of fruits and vegetables in the world. Yet, according to the Food and Agriculture Organization (FAO) of the United Nations, 194 million Indians are undernourished, the largest number of hungry people in any single country.
Addressing the problem requires improvements in the productivity and efficiency of the agriculture sector, particularly small farm owners. At Agribazaar, we are bridging this fundamental gap, creating next generation agri-tech solutions for those facing the greatest need. This is why our business model is 100% aligned with small farm owners.
Agribazaar started with the idea that a technology-driven platform could help the agri value chain operate with significantly less overheads and hidden inefficiencies. We digitized the agri value chain with proof of origin and authenticity, enabling traceability whilst bringing down agri-trade commissions from 2-3% to 0.5%.
|Industry:||Information technology & Services|
|Company Size:||51-200 employees|