Sensors & Smart Farm Tech: Commonalities
Some commonalities amongst successful Ag Tech companies in the Sensors & Smart Farm Tech industry are their business model, funding levels, location, and lifecycle stages.
- The startups have the same goal: to help companies to grow food in a smart way that reduces the companies' costs as well as the use of pesticides, and as the final result to have a completely healthy harvest, that will feed the world. That business model is the one that the startups offer to companies and small farms owners to improve and facilitate their working life.
- All the startups are in the state of California (CA), the reason why there are so many successful companies in the sensors & smart farm tech industry located there, can be because of California's economy. In 2007, agriculture generated 57,005 positions in CA, which represented 16% of all jobs and 20% private jobs, since then, agriculture represents a vital factor in the state's development.
- Besides that, CA is in the top 10 states that produce almost every significant food and livestock groups. For that reason, agricultural leaders also said that CA needs to adopt climate-smart farming to face climate change and still be able to produce and feed the ever-growing population.
- In addition to that, CA is a state that, if not prepared cleverly for climate change, can suffer irreparable damage to agriculture. For example, using smart-farming, they could prevent agricultural disasters from fires. A long time ago, farmers embraced technology not only to avert disastrous losses, but also as a smart way to preserve and decrease the unnecessary use of valuable resources such as water, food, energy, and land.
- The majority of startups (5 out 7, specifically) have received at least series A funding industry experts say that only 10% of startups make it to that level. Another commonality that these startups have is that they have collected more than $10 million.
- All the startups have received recognition in the past, some of them, have been awarded two or more times in categories related to Smart Agriculture, Innovative Farms, Top Ag Tech Companies, among others.
- Most of the startups are in the most productive phase of their lifecycle stage, the majority, started operating in the 2010 decade, with two exceptions that opened in 1998 and 2002. However, the commonality here is that all are active and prosperous in the present.
Through the available information, the research team analyzed the things that the startups listed, share in common. As part of our strategy, we investigated additional data points in conjunction with the information provided in the spreadsheet. However, not all were commonalities, such as, for example, the investors of each of the startups. Despite that, we were able to find other common points such as business model, goals, awards, foundation dates, location, among others.