LAHORE: Farmdar, a Pakistani agricultural startup, announced the launch of AgromAI, a fintech venture in Brazil here on Tuesday.

“At AgromAI, we harness the power of Artificial Intelligence (AI) and geospatial data to revolutionize agricultural financial solutions in Brazil,” said Muzaffar Manghi Co-founder of Farmdar Pakistan.

By leveraging advanced algorithms and cutting-edge technology, the new platform will provide financial institutions and insurers with highly accurate, individual farm-level intelligence.

This enables optimized credit and insurance risk management, paving the way for enhanced productivity, profitability, and sustainability in the agricultural sector.

Brazil’s agriculture contributes significantly to global food production, with total agricultural production valued at $170+ billion, while crop insurance alone accounts for R$9+ billion annually.

Farmdar expressed its pride in exporting Artificial Intelligence and data-backed products developed solely by Pakistani engineers. It is a testament to the innovation of Pakistani talent and their potential to make a contribution to the global agri-tech industry.

“We are excited to bring these cutting-edge solutions to Brazil, empowering financial institutions and insurers with AI-driven insights,” Muzaffar further said.

Copyright Business Recorder, 2023