FarmERP, a global pioneer in farm-to-forks technology, is set to revolutionise the farming sector in the climate-challenged Middle East with a host of Artificial Intelligence (AI) and Machine Learning (ML)-based tech solutions to boost productivity and profits, amid Gulf countries’ move to prioritise food security, pumping in billions of dollar investments.
The agritech venture is gearing up to hit the market to raise top dollars to fund its game-changing plans for the sector, which it hopes will be transformed to a potentially high-profit sector with the help of cutting-edge tech solutions.
“Agriculture technology (AgTech) is set to play a pivotal role in improving productivity and resource efficiency, and the challenging climate [in the Middle East] has sparked interest in innovative farming methods,” Sanjay Borkar, Co-Founder and CEO of FarmERP, told Arabian Business.
“Our soon-to-be launched AI and ML-based app will enable farmers to track their produce throughout the supply chain – from harvest to point-of-sale, while our prediction technology tool will keep them updated on predictions about climate conditions and product demand to manage their crops accordingly,” he revealed.
The app will be available in both English and Arabic.
Borkar said the company embarked on its journey into the Middle East a few years ago with the primary goal of assisting Middle Eastern agribusinesses in addressing food security, food safety, and productivity issues related to the region’s water scarcity.
He said the company’s approach involves utilising technology to manage farming businesses more effectively by capturing numerous data points for informed decision-making, which is crucial for enhancing profitability and predictability.
“We collect this data with the help of IoT devices and sensors. Through data analytics, it optimizes resource usage, monitors crop and soil conditions, and manages irrigation effectively, addressing water scarcity, while providing advisory services to support decision-making and planning,” Borkar said.
The company aims to be a leading player in the agritech industry in the Gulf region within the next two years.
Launches tech solutions to improve 3Ps
Borkar said FarmERP has recently launched its AI and ML-driven platform, ‘FarmGyan’ in the region, which has significantly improved its clients’ profitability, productivity, and predictability – the essential 3Ps of agribusiness.
He said FarmERP is also partnering with various companies as their technology partner and looking forward to further expanding its partner network in the region.
“Our overarching objective is not only to bolster the agricultural sector but also to fortify critical pillars of sustainability, including food security, water conservation, and the enhancement of overall agricultural productivity within these distinctive and environmentally demanding regions,” said the agritech chief executive, who is highly passionate about the sector.
Borkar said the agritech firm’s clientele includes some leading companies that oversee the entire supply chain – from farms to supermarkets – as well as farms specializing in a variety of crops, such as vegetables and dates.
The firm also engages in projects that promote outreach to farmers and contract farming companies, providing valuable advisory services.
“With a significant presence in the market, we possess in-depth knowledge of the region’s agricultural landscape and extensive experience working with local businesses and nationalities, successfully deploying ERP systems to enhance farm productivity,” Borkar said.
Gulf countries’ thrust on food security to bring in large-scale investments in agri sector
The FarmERP top honcho said the Gulf countries’ decision to prioritize food security is already leading to increased investments in agriculture.
“Over the next five years, this commitment is expected to persist, driving further expansion in the agri and food sectors,” he said.
The rising shift towards organic food is also increasing the demand for organic farming practices.
“Currently, we manage extensive agricultural operations across the UAE, Saudi Arabia, Qatar, Oman, Egypt and Jordan with a focus on providing solutions to tackle the region’s unique agricultural challenges.
“Government initiatives, sustainability concerns, and technological advancements will continue to shape the agriculture sector in the Gulf region, and FarmERP is fully geared up to provide technological support for these initiatives, partnering with both government entities and private players in the region,” he said.
Borkar said in pursuit of the expansion plans in the region, FarmERP plans to set up offices in countries across the region to enhance client support, marketing efforts, and technical services.
The company is also committed to further solidify its research and development to tailor technical solutions to the unique requirements of the region.
“We do have plans to raise funds to support our expansion efforts,” the company chief executive revealed, adding that “the growing demand for agricultural technology in the Gulf region and our strong position in the industry make fundraising an important step as we scale up”.
Borkar said the agritech sector is a sunrise industry in the Middle East, and FarmERP aspires to be a leader within it, which necessitates securing capital for further growth and innovation across various markets.
The company currently operates in the farm sector in over 30 countries, with successful deployments across Africa, Europe, the Middle East, and Southeast Asia.
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