ZoomAgri Company Profile

Background

Founded in 2017, ZoomAgri is a global AgTech company headquartered in Madrid, Spain, with additional offices in Argentina, Brazil, and Australia. The company specializes in transforming the testing, inspection, and certification (TIC) processes for agricultural commodities and food through the integration of artificial intelligence (AI), machine learning (ML), and computer vision technologies. By digitizing these traditionally manual processes, ZoomAgri aims to enhance efficiency, accuracy, and traceability within the agricultural supply chain.

Key Strategic Focus

ZoomAgri's strategic focus centers on providing real-time, standardized, and objective quality assessments of grains and oilseeds. The company's core objectives include:

Variety Recognition: Utilizing computer vision and ML to accurately identify grain and seed varieties.

Grading: Assessing the physical quality of grains and oilseeds to ensure compliance with industry standards.

The primary markets targeted by ZoomAgri encompass exporters, processors, grain handlers, seed companies, surveyors, and laboratories. The company's technology currently supports commodities such as malting barley, wheat, soy, and corn, with plans to expand into additional crops.

Financials and Funding

As of July 2023, ZoomAgri has raised a total of $11 million in funding. The most recent Series A funding round secured $6 million and was led by GrainCorp and GrainInnovate, with participation from SP Ventures and Artesian. The capital is intended to accelerate product development and facilitate expansion into North American markets, specifically Canada and the United States.

Pipeline Development

ZoomAgri's product offerings include:

ZoomBarley: Launched in 2018, this product determines the purity of malting barley varieties in real-time and is utilized by clients such as AB InBev, Boortmalt, and Malteurop.

ZoomAgriSpex: This solution assesses the physical quality of grains and oilseeds, addressing issues like classification errors and delays.

The company is actively developing solutions for additional commodities, including wheat, to broaden its market reach.

Technological Platform and Innovation

ZoomAgri's technological platform is distinguished by its proprietary combination of hardware and software systems that leverage AI and computer vision. Key components include:

Hardware Scanner: Captures high-resolution images of grain and seed samples.

AI and Machine Learning Algorithms: Analyze images to determine variety and quality, powered by a database of over 250 million individual images.

This integration enables rapid, accurate, and objective assessments, significantly reducing the time and labor traditionally required in the TIC process.

Leadership Team

ZoomAgri's leadership comprises experienced professionals with diverse backgrounds:

Fernando Martínez de Hoz: Co-Founder & Managing Director

Jaap Rommelaar: Co-Founder & Managing Director

Matias Micheloud: Co-Founder & Chief Technology Officer

Their combined expertise in agronomy, technology, and business development drives the company's innovation and growth.

Competitor Profile

Market Insights and Dynamics

The global agricultural TIC market is experiencing growth due to increasing demands for food safety, quality assurance, and traceability. Technological advancements, particularly in AI and ML, are reshaping traditional inspection methods, offering more efficient and accurate solutions.

Competitor Analysis

Key competitors in the agricultural TIC sector include:

AgNext: Specializes in AI-driven quality assessment solutions for agricultural commodities.

Gramophone: Provides digital solutions for farm management and crop advisory services.

Prospera (Agriculture): Offers AI-based crop monitoring and analytics platforms.

ImagoAI: Develops AI technologies for rapid food quality testing.

These companies focus on various aspects of agricultural technology, from farm management to quality assessment, contributing to a competitive and innovative market landscape.

Strategic Collaborations and Partnerships

ZoomAgri has established significant partnerships to enhance its market position and technological capabilities:

GrainCorp: Co-led the recent Series A funding round and has been testing ZoomAgri's units at receival sites in Australia to monitor barley quality.

GrainInnovate: A venture capital fund partnership between GRDC and Artesian, supporting ZoomAgri's technology development and expansion efforts.

These collaborations facilitate product development, market expansion, and the modernization of grain quality assessment processes.

Operational Insights

ZoomAgri's strategic considerations include:

Market Position: Leveraging proprietary AI and computer vision technologies to offer unique solutions in the agricultural TIC market.

Competitive Advantages: Providing real-time, accurate, and cost-effective quality assessments, reducing reliance on manual labor and minimizing errors.

Differentiators: A vast image database and a vision-as-a-service business model that offers hardware devices at no initial cost, charging users based on analyses performed.