AGRIFOOD TECH ACCELERATOR GASTROTOPE ANNOUNCES FIVE STARTUPS FOR ITS FIRST COHORT
New Delhi, January 22nd, 2019: Gastrotope, the agrifood tech accelerator founded by Taizo Son’s Mistletoe, GSF, and Infobridge, today announced the names of five startups in the first cohort of its program.
Over 150 applications were received for the program, and the following five startups have been shortlisted:
1. Brown Foods by Lifenectar Health Care Pvt. Ltd.
Founded in 2017 by Stanford, IIT Delhi and IIT Roorkee Alumni, Brown Foods is creating next-generation packaged food products. Using data analytics and AI, they make personalized packaged food products, using the healthiest ingredients sourced directly from farmers and deliver fresh at doorsteps, with complete transparency across the supply chain.
2. Credible by Agzaken Risk Management (OPC) Pvt. Ltd.
Established in 2018, Credible has created agriculture specific risk management tools (AI-driven) for financial institutions and policy makers. It combines various data sources such as remote sensing, Agri-commodities pricing and transactions data to provide unique insights at a farm or farmer level. Its innovative approach was acknowledged and awarded the special jury prize at the Mumbai FinTech festival, and as one of the top25 InsureTech startups by HDFC Ergo.
3. Fasal by Wolkus Technology Solutions Pvt. Ltd.:
Established in January 2018, Fasal is an agri-tech platform, developed by Wolkus Technology Solutions. It is an AI-powered IoT platform for agriculture ecosystem that records a variety of growing conditions on the farms, makes on-farm predictions and delivers actionable insights and recommendations to farmers, thereby helping them in increasing productivity.
4. Occipital Technologies Pvt. Ltd.
Occipital Tech automates the grading and sorting process of fruits and vegetables by using computer vision. Occipital Tech's technology grades fruits and vegetables based on shape, size, color and surface patterns. The startup was established in the year 2017 with an aim to redefine the grading processes, to increase the transparency in trade and improve the marketability of the produce.
5. Triton Foodworks Pvt. Ltd.
Founded in 2014, Triton Foodworks is a new age, precision farming company, which creates ideal conditions for growing pesticide free fruits and vegetables. Precise monitoring and adjustments of every input from light intensity to individual ions in nutrient mixes allows Triton to grow up to 15 times more produce in the same footprint, using almost 95% less water and absolutely zero chemical pesticides. Triton grows food that demands less and delivers more.
The Gastrotope accelerator program has helped these start-ups to optimise their business model, achieve product-market fit, and execute a scalable growth strategy. The program included 1 on 1 mentoring session with 30 mentors, provided networking opportunity, funding investment advice, strategy-and-skill development.
Gastrotope is a catalyst in the formation of ‘Farm to Fork’ ecosystem that is not only sustainable but also enriches the lives of billions. Rajesh Sawhney, CEO and founder of GSF India said, “The five shortlisted startups embody our intent to create and nurture a true ‘Farm to Fork’ ecosystem in India. All of them share two common threads: an exceptional leadership team and a focused and scalable business idea, which we believe are vital ingredients necessary to make a meaningful impact in a sector as huge and diverse as agriculture.” Naho Shigeta, CEO of Infobridge Holdings said, “The overwhelming response to our accelerator program demonstrates the keen interest of Indian startup community in making a difference to agriculture in the country. The Gastrotope team is now looking forward to working with and enabling these five startups in building a strong and sustainable business.”
Gastrotope is a focused accelerator with the vision to catalyze the creation of a new agriculture and FoodTech enabled industry ecosystem that builds upon India’s rich food diversity and focuses on sustainability throughout the ‘farm to fork’ value chain. It was created through a joint effort by Mistletoe, the Japanese investor and incubator founded by Taizo Son, and partners, GSF - India’s leading tech accelerator founded by Rajesh Sawhney and Infobridge - Indo-Japan business consultancy. The accelerator aims to invest in startups that can add value at various parts of the value chain, starting with farmers and moving to food transportation, processing and delivery to and consumption by customers.
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