TL;DR:
- GrainCorp and GRDC lead a $9-million investment round into ZoomAgri, the leading agtech company.
- ZoomAgri’s AI and ML technology aims to streamline grain analysis across the supply chain, reducing the number of analyses needed.
- The company’s success in barley testing prompts expansion to include new commodities like wheat.
- ZoomAgri’s AI-driven scanning provides timely quality and variety analysis for grain kernels.
- The company’s technology gained recognition from the Central European Commission for Brewing Analysis.
- Global presence, serving clients in 25 countries, reinforces ZoomAgri’s position in the agtech industry.
Main AI News:
In a remarkable collaboration, GrainCorp and GRDC are spearheading a groundbreaking $9-million investment drive to propel the growth of ZoomAgri, the leading agtech company. GrainInnovate, the venture-capital fund partnership between Grains Research Development Corporation and Artesian, will join hands with GrainCorp to co-lead the Series A investment round, with additional participation from existing investors SP Ventures.
As a prominent player in barley testing within Australia, ZoomAgri is now gearing up to expand and diversify its commodity coverage. The company’s innovative units have been put to the test at GrainCorp’s received sites on the east coast of Australia over the past few years, successfully detecting sieving and quality defects in barley. Under the able leadership of Robert Spurway, GrainCorp’s Chief Executive Officer, the investment will bolster product development, paving the way for exploring new commodities like wheat.
The strategic move is aimed at streamlining the grain analysis process throughout the supply chain. Presently, grains need to undergo analysis up to 14 times before reaching the customer’s dock for export. ZoomAgri is on a mission to revolutionize this process through the power of artificial intelligence (AI) and machine learning (ML). By leveraging AI and ML, ZoomAgri specializes in varietal recognition and quality testing, delivering cutting-edge solutions to the grains and oilseeds trading sector.
The inception of ZoomAgri’s transformative technology traces back to a pressing need in the grains and oilseeds trading industry. Farmers would supply their commodities, but the silo managers lacked insights into the quality of the grains. Moreover, exporting soybean vessels often encountered quality issues that were only reported two days later, rendering timely intervention impossible. However, thanks to their breakthroughs in AI-driven scanning, ZoomAgri can now swiftly analyze the quality and identify the variety of each grain kernel.
Today, ZoomAgri’s influence is global, serving clients across 25 countries. The amalgamation of technology, agronomy, and commercial industry expertise has propelled the company’s exponential growth and success.
Excitingly, ZoomAgri’s technology has received the official nod from the Mitteleuropäische Brautechnische Analysenkommission e.V. (MEBAK), the Central European Commission for Brewing Analysis, for varietal purity analysis of malting barley across the supply chains. This recognition marks a significant milestone for the company and augments its role in the broader Australian supply chain – from growers and handlers to processors and exporters.
Fernando Felquer, GRDC’s Head of Business Development, emphasized the importance of AI technology as a crucial investment focus for the research corporation. With the aspiration to improve efficiency across the entire supply chain, GRDC and GrainInnovate are proud to continue supporting ZoomAgri’s technology development program, fostering a brighter future for agriculture in Australia and beyond.
Conclusion:
GrainCorp and GRDC’s significant investment in ZoomAgri underscores the growing importance of AI and ML technology in the agtech market. As the company expands its capabilities and gains recognition in international markets, it is likely to revolutionize grain analysis and quality assessment methods. This advancement promises increased efficiency and accuracy throughout the supply chain, benefiting growers, handlers, processors, and exporters. The agtech sector can expect continued growth and innovation as ZoomAgri continues to pave the way for transformative solutions in the industry.
