By analysing farmland, climate data and satellite information, Agtuary provides crucial insights into agricultural production, credit, risk and investment decision making.
Recently, we caught up with Michael to hear about Agtuary’s journey so far:
"Matthew and I (Angus) founded Agtuary after spending several years working with remote sensing data and satellite systems to evaluate land use, natural vegetation health and water quality. We spent several months looking at how these technologies were being applied in agriculture and found that while there were a lot of companies pursuing on-farm and day to day use of them, very few people were using remote sensing, weather and climate information to improve the very manual and time intensive processes of collecting quality data in the supporting services such as finance, insurance and the supply chain.
We saw that there was a great opportunity to apply our expertise and bring better data and improve decision making in agricultural investment, finance, lending and risk. We were motivated by the fact that not only could we use our skills to ensure that farmers get a fair deal when it comes to their finances but also the impact it could have on developing regions where there is very little data and access to financial services. By creating the data sets necessary to access financial tools it could provide the opportunity for whole populations to grow their businesses and improve their quality of life."
What's your favourite part about what you do?
My favourite part about what we do is seeing the joy on a customer’s face when we can really help them. Nothing gets better than that feeling of all your hard work paying off and that what you're building at the end of the day really matters to people. On the other side, I am a massive nerd and an engineer by trade so I really geek out at the cool technical challenges we get to solve every day. Problem solving is in my DNA and I couldn't imagine doing anything else.
"While our data is useful to many across the sector, we are hyper focussed on how to manage and understand the financing, risk and investment in the agricultural sector at scale. I mean this across a few dimensions; geographic (global), temporal (the longest time frames both into the past & future), and in volume (how to manage risk across tens, hundreds or thousands of farming operations). In addition, we aim to create a common language through our data to create better understanding from the field to the financier and investor and beyond so everyone is on the same page."
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