Mavrx, an AgTech startup wants to improve the efficiency of the global agriculture industry through imagery-based analysis. Computer vision (thanks to satellites, UAVs, sensors, and aircraft) combined to machine learning technologies are used to deliver actionable data to farmers.
Business is often hard for farmers. Indeed, the latters have to deal with a huge number of unknown factors, such as precise weather forecast, and it can be difficult for farmers to make the right decision at the right time. Besides, inputs come at a high price, especially for the growers who cultivate crops which require a considerable amount of nitrogen (corn for instance). But as the CEO of Mavrx, Max Bruner, says: “60% to 80% of the nitrogen applied on the field is wasted because it is applied at the wrong moment or not in the right spot”.
Farmers, and even more so big farms (who account for 2% of the US farms but still 35% of the production value), need to find a way to obtain better data from their fields in order to optimize the use of fertilizer and their costs. Mavrx provides powerful imagery-based analysis through ultra-high-resolution images, by using cameras located on aircraft, drones or by satellites. The grower then gets notifications thanks to their algorithms. In addition, Mavrx will show the areas that require attention and provide farmers with recommendations based on greater data accuracy and reliability. The combination of both Mavrx solutions and the farmers in-field knowledge allow farmers to optimize their actions and become more effective.
Growers are often not true data scientists and in their daily business they constantly run after time. Therefore a user-friendly and simple interface is key to help farmers optimize their costs. The Mavrx platform is well tackling the challenge with step-by-step explanations and scenario generation to estimate the cost of fertilizer. Additionally, in the future Mavrx could be directly linked to the farmers’ bank, leading to personalized and better adjusted lending rates.
The AgTech industry will become more and more connected to the FinTech sector and will help farmers to better control their finances, their assets and as a result their costs. As we already mentioned it, the future of agriculture will be about using technologies to produce more with less (financial or natural resources).