Agryo

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Agryo Enables Lenders to Collect, Evaluate and Monitor Farmers' Operations Under Financial and Environmental Contracts.

Background/History

Agryo is the result of the founders Leisy and Isaque experience in agriculture, financial and environmental services with over more than 12 years each one and the unique opportunity to serve the 500 million farming families around the globe which have no access to financial services in an suitable way.

Agryo emerge in the scenario which by the World Bank and IFC numbers to match the increase of 70% agriculture products demand of society in world with 10 billion people, is necessary increase by 2T USD per year from the 2018 up to 2050 to supply the demand for agronomic, social and environmental aspects of the agriculture sector.

The agryo way to solve the absence of financial services is to help financial institutions, agricorps, banks, insurance companies and agricoops to improve their legacy systems by adding a cutting edge technology in data science, machine learning and decentralized ledger technology (DLT) to make the operations simple, fast and trustful among the peers of the sector.

The mission of agryo is to enable a new 2T USD financial services market in agribusiness with fairness, speed and low friction entrance. To do so, agryo is design as an rails provider (to companies send farmers crops fields and get answers and proofs) for data and risk intelligence and a ratings/modeller provider (to get ready to use information's for decision making).

Problem

The space of agriculture finance or agricultural trade financing have been a field with potential improvements in financial contracts itself (the deployment of smart contracts and other infrastructures), the operations of the peers in the sector (AgriCoops, AgriCorps, Financial Institutions or Insurers), the traceability of the relationship of the financial support in the agriculture production (like what type of crops or in what conditions it is done) and the data infrastructure for operators in the space (how they evaluate a potential contract).

In all of those broad range of verticals the powerful triad of data (almost limitlessness amount of data generated in the farming from the environmental, agronomical, operational and financial sources) and intelligent algorithm methods (machine learning, deep learning and other methods) and the distributed ledger technology (like blockchain and DLT) is potential transformative in relation of to make real the globalized world. To do so, to make a real globalized world in agricultural markets (and not come to trade wars and all disputes related problems) the basic assumption is to secure everyone know how, when, what, where and why something happened. Could be seemed as obvious that the powerful triad is critical to agricultural markets in general, but is not completed in general public domain the existence of multiple stakeholders, with multiple time horizons, multiple origins and destinations for products and services, and products which have time and space variation based on external and internal effects (like weather or crop management for example). So in that complex plain field the distributed ledger technology will play a role of in-out trusted information and transactions itself.

So, the problem is how to bring a fragmented (in geographical, climatic, economical, national, monetary and cultural levels) to a broad consensus which can enable truly global transactions in multiple phases of the chains, between multiple size and goal players in a fast, cheap and fair way? And doing so, how empower the 2 billion people which rely on agriculture to live to be protagonists not only part?

Product

Agryo deliver risk intelligence in agriculture finance using its own data engine which combine multiple sources of data of different dimensions (time, space and and resolutions) in a way to deploy to the companies in agriculture space the information to better understand of the clients in pre, during and manage portfolios after financial contracts. The agryo services can enable the existing legacy financial and environmental services infrastructure to leverage data and intelligent methods in combination with decentralized technologies like DLT by connecting to 1 single point of entrance/submission of data with aggregates over 1000 different data sources and models multiple aspects of the crop field and forests behavior in the last 20 years in a 5 minutes process.

Team

  • Isaque Eberhardt, CEO and Co-Founder of agryo, a farmer's son, beekeeper, Agriculture Technician, Agronomist Engineer (UFPel-BR), Master Degree in Earth Sciences (INPE-BR) and PhD in Engineer (UnB-BR). As an expert in agribusiness, data science and agrifinance with more than 17 years of experience working in the space for banks (Banco do Brasil SA, Caixa), insurance companies (Allianz), International Institutions (United Nations - UN; United Nations Development Programme - UNDP; International Policy Centre for Inclusive Growth - IPC-IG; International Institute for Sustainable Development - IISD), governmental agencies (Brazilian Environment Ministry - MMA; National Institute for Space Research - INPE; The Brazilian Ministry of Agriculture, Livestock, and Supply - MAPA; The Brazilian Institute for Applied Economic Research - IPEA). Have been working with banks on the field with farmers to develop their projects of credit for the crop seasons between 2004 and 2007. Since 2007 up today working data scientist and geoengineer with GIS and modelling for crops under finance (with insurance and reinsurance companies), modelling environmental assets in data driven applications, crop monitoring, financial fraud detection, crops growth modelling, crops acreage, area and yields estimates. Indeed worked as a Economist Research Analyst at IPEA in economic modelling for logistics networks and transportation. More than 35 peer reviewed papers in the academic history.
  • Leisy Teixeira, COO Co-founder and Head of Operations for Agryo, a risk intelligence startup for agribusiness, accelerated by a Swiss fund and Google for Startups. I have more than 6 years of academic research directly with rural producers and more than 10 years of professional experience in the areas of innovation, finance and regulation of logistics, transport and agribusiness infrastructures, as well as economic monitoring of projects in the public and private sectors. in organizations such as the Inter-American Development Bank (IDB), Ministry of Economy, International Policy Center for Inclusive Growth linked to the United Nations Development Program (IPC-IG / UNDP), Interdisciplinary Center for Transport Studies at the University Brasília (Ceftru / UnB), Ministry of Agrarian Development / Inter-American Institute for Cooperation on Agriculture and Embrapa Cerrados. PhD in Transport and Logistics Engineering, Master in Agribusiness and Bachelor in Agribusiness Management, all from the University of Brasilia, with participation in research projects, with production of scientific articles and book chapter. I co-lead the Lean IN chapter in Brasilia, a project that helps women achieve their professional ambitions and make the world more just, with participation in the ICT TAC (TIC TAC) project of the International Telecommunications Union (ITU / UN) aimed at teaching technology to girls.
  • Henrique Sena, Full Stack Developer, Blockchain Developer and cyber security. Bachelor of Information System, postgraduate degree in forensic information security. He has experience in blockchain development, crypto assets and information security.
  • Jonas Flechsenhar, Economist, Master's in finance at the Shanghai Advanced Institute of Finance, United Arab Emirates, in progress. Speaks German, French, Spanish, English. He coded his own trading algorithms. Helped refugees finish high school.
  • Shanay Sanghvi, Data Scientist, Master in Computer Science at the University of Southern California, in the United States, in progress. He worked on a project called prediction of loan results based on Machine Learning. It also implemented sites such as e-commerce of books, news site and was also part of the Android application of the news site.
  • Anjali Parikh, Data Scientist, Computer Scientist at the University of Toronto, Canada, ongoing. Has emerging technology skills: Artificial Intelligence (AI), Blockchain (distributed accounting technology), Fintech, Greentec, Python, Java and C.
  • Ishnoor Singh, Web Developer, Computer Scientist from the University of California, Los Angeles, ongoing. He has experience in the Deutsche Telekom Formed club's e-commerce platform and has worked with the UN to create solar roofs for refugees. Created an email client to replace Google's inbox.
  • Aashritha Reddeddy, Data Scientist, Masters in Computer Science University of Southern California, ongoing. With experience in a collaborative environment and contributed to Develop, Build and Test cloud-based solutions to enhance the Network Management System using Python, and Scala for backend and Angular for frontend.
  • Mansoor Madhavji, Senior Advisor, analytical and creative marketing and business development professional who applies business analysis and critical thinking skills to develop new systems, drive sustained business performance and maximize revenue potential. Support start-ups on go-to-market strategy and scaling. With experience with a wide range of functions including system testing, implementation, business process improvement, research and data analysis methodologies. I am a resourceful problem solver with the proven ability to conceptualize solutions to challenging situations and maximize success.

Investors

  • Blockchain Founders Fund Website, is a Venture Building, Venture Capital and Consulting based in Singapore, Canada and Beijing and has been working with Agryo since March 2019.
  • CV VC AG Website, a global investment fund for companies operating in the areas of blockchain, internet, artificial intelligence and financial services. They are one of investor in Agryo and develops a support partnership with specialists in the area and promotes connections between Agryo and companies that may be potential customers.
  • CV Labs Website, a Swiss incubator from Crypto Valley that focuses on developing and financing innovative Blockchain startups, worldwide, with offices in Zug, Liechtenstein and Dubai. Agryo have been selected, with a demo day in Davos during the World Economic Forum 2020.
  • Holt Accelerator and Fund Website, Family Office and Canada accelerator with a focus on Fintechs. They are one of investor in Agryo, a business partner with a team dedicated to the development of the startup and a person to support artificial intelligence and finance.


Competitive Landscape

In such complex ecosystem like agricultural services agryo operates in this space as enabler of financial operations for AgriCoops, AgriCorps, Financial Institutions or Insurers which have risk on the field (as a category in credit, insurance and other financial/environmental linked to the farms) to deliver better understanding of their farmers operations, with low operational cost and fast decision making.

There are some companies doing partial components of agryo design, however the approach mostly of the time is focused in the farmer as a B2C or B2B2C approach.

SWOT

Strengths Weaknesses
  • The founding team is experienced and mature
  • Previous work experience in components of agryo
  • Decentralized team from day one of the company
  • Still in the early stage of operations
  • Demand a bigger team to start to grow consistently
  • Operate as global to block new enters
Opportunities Threats
  • An existing 2 T USD demand (only in credit) for underseved farmers
  • The entire environmental services segment
  • A new stage of back office and automation in ag finance
  • The major incumbents decide to build by their own
  • Major regulatory changes in the wrong direction for data usage
  • An alliance of all companies to transform agryo-like stack services free on charge

Milestones/Results

Goal Set Goal Target Date Result
August 15, 2020 Close the first client in North America Market November 30, 2020 First Revenue outside of South America
June 01, 2020 Company have achieved 10k monthly requests of the system December 31, 2020 Show strong case in the fundraise
August 15, 2020 Close the second client in North America January 31, 2021 Increase Revenue outside of South America

See Also

Agricultural trade financing

External Links