Farmdar, Pakistan’s leading agritech startup, has launched AgromAI, a new fintech venture in Brazil that will provide financial services using artificial intelligence (AI) and geospatial data.
Farmdar New Fintech Venture
“Pakistani technology will be used by some of the largest businesses in the world, and with more developed markets as a stomping ground” stated Muzaffar Manghi, co-founder of Farmdar while talking exclusively.
He also stated that Latin America is experiencing severe climate change impacts, such as changing temperature and rainfall patterns, which increase the risk for insurers, and that AgromAI will mitigate this risk and prepare agribusinesses to respond to it.
He also stated that improved technology will benefit Pakistan, and that knowledge exchange will be reciprocal. Brazil is the third-largest agricultural exporter after the European Union and the United States.
It makes a significant contribution to global food production, with total agricultural production valued at more than $170 billion, and crop insurance alone accounting for more than $9 billion annually.
We will provide highly accurate, individual farm-level intelligence to financial institutions and insurers by leveraging advanced algorithms and cutting-edge technology. This allows for better credit and insurance risk management.
This enables improved credit and insurance risk management, paving the way for increased agricultural productivity, profitability, and sustainability.
“We are extremely proud to export our artificial intelligence and data-backed products developed solely by Pakistani engineers,” stated Farmdar in its official release.
This is a testament to the innovation of Pakistani talent and their potential to make a contribution to the global agritech industry, it added.
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