Ricult

Ricult, founded by Uukrit Unahalehaka and Usman Javid, is trying to help small farmers in Thailand and Pakistan increase crop yields through artificial intelligence and machine learning.

History

2021: AI helps farmers increase crops by 50%

On November 28, 2021 Thai startup , Ricult announced that it had helped farmers significantly increase yields thanks to a special application. Efficiency can exceed 50% (see). IT in the agro-industrial complex in the world

Ricult provides farmers with access to data that helps them make better decisions throughout the agricultural cycle. The platform analyzes weather conditions and tells farmers when to start laying seeds in the ground and when to add fertilizers.

Ricult AI helps farmers increase crops by 50%

The application addresses the serious problem faced by farmers: annual droughts and poor weather conditions, which lead to a decrease in yields. Due to these risks, it is difficult for farmers to get a stable income and some eventually begin to turn to moneylenders.

With our data platforms, banks can... better understand the risk profile of farmers with our credit profile, "Unahalehaka said and added that the application helped banks" provide affordable loans to farmers at a reasonable price. "

According to Unahalehak, by November 2021, almost 400 thousand Thai farmers registered in the Ricult mobile application.

Over the past two years, we have worked extensively with central banks and many research institutes. We have shown that our technology has increased farmers' incomes by at least 50% as a baseline, "he said.

Ricult does not charge farmers for the app. Instead, it charges fees and fees to banks when they apply for a loan.

Ricult is growing rapidly, and Unahalehaka said that he has plans to expand business in Vietnam and the Philippines.

By 2022, the company expects to reach profitability.

We want to open the Series A round next year for investors, "he said.[1]

Notes