Climate change and a growing global population with rising incomes mean that the world is facing unprecedented agricultural challenges in the coming decades. These pressures encourage investments in innovations that can help increase yield and reduce input and environmental costs. The Global Precision Farming market is expected to grow at a CAGR of 12.5% to reach $6.43 billion by 2022. The Internet of Things (IoT) has been a source of new and more productive ways to farm in recent years because of increasing affordability and ease-of-installation. The US is currently dominating this segment, with CAGR growth of 20%. Agricultural science and technology, known as ‘agri-tech’ help to offer a solution and 2017 was another record investment year for the agri-tech sector, with more than $1.5 billion deployed. Significantly, the sector saw more than 300 distinct investors and 160+ deals, contrasting the 31 deals and less than $200 million invested in 2007.
Having a special bond with agriculture, Zesium was given the opportunity to take part in this race and create Atfield application – an application which helps farmers to keep track of the condition of their grapevines and vineyards.