Launched in 2016, Gobasco is led by Vedant Katiyar and Abhishek Sharma. The team is building an AI-powered data-driven supply chain optimisation platform to revolutionise the agriculture industry in India. It carries out real-time data analytics on data-streams coming from multiple sources across the country aided with AI-optimised automated pipelines, thereby optimising the transportation cost by over 30%.
Gobasco claims to have worked with over 5,000 farmers till date.The startup carries out artificial intelligence-based automatic grading and sorting for vegetables and fruits. “The goal is to use artificial intelligence and big data to optimise the agri-supply-chain across India,” said Abhishek.
The startup will use the raised funds for scaling and building a full stack commerce platform that yields higher operational efficiency, improves realisations for farmers, reduces wastage and enhances price and market discovery for agricultural commodities.
Agritech Funding: Rising To The Top Of The Graph
According to Inc42 Datalabs, the size of agriculture and allied activities in the country underwent a near-100% growth between FY14 and FY15. Agricultural exports increased from $24.7 Bn in 2011-12 to $32.08 Bn in 2015-16; a CAGR growth of more than 6.75%.
Further, in last few months agritech sector has attracted a few decent investments from the investor community. This includes names such as Gold Farm ($2 Mn), Taaza ($8 Mn), AgroStar ($10 Mn), WayCool ($2.7 Mn), Utkal Tubers ($4.6 Mn), EM3 Agri Services ($10 Mn), NinjaCart and more.