Farmers Edge Inc. (“Farmers Edge” or the “Company”)(TSX: FDGE), a pure-play digital agriculture company and LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced the launch of the Farmers Edge Innovation Lab (FEIL) in Mumbai. This innovation hub, powered by Fairfax Digital Services, is set to redefine agriculture in India. By integrating cutting-edge AgTech with global digital solutions expertise FEIL will secure early victories and tangible results, laying the foundation for scaling generative AI projects.
Farmers Edge brings advanced capabilities in remote sensing and agronomic modeling, empowering farmers and enterprise clients with unparalleled insights. Partnering with LTIMindtree, FEIL is poised to create a nexus of expertise and knowledge exchange between North America and India. LTIMindtree’s advanced technologies that includes GenAI, IOT, Automation and Drones, will work towards elevating farming in the country to provide high crop yields at low input costs. The launch of this innovation lab marks a significant milestone in the evolution of agriculture in India, setting the stage for a future where technology and tradition would harmonize to drive prosperity in the fields.
FEIL’s mission is to educate and empower India’s farmers, providing tailored solutions that enhance yields, reduce costs, and ensure a prosperous and sustainable future for Indian agriculture. The lab will focus on key aspects crucial to the Indian market such as:
- Weather: Analyzing weather patterns and their impact on crop production.
- Soil: Ensuring a comprehensive understanding for maximizing yields while improving soil health.
- Crop Cycles: Assisting farmers in optimizing field processes to add significant value to the agricultural value chain.
Speaking on the occasion, Vibhore Arora, CEO of Farmers Edge, expressed, “We are thrilled to lead such an incredible initiative for India’s agriculture with LTIMindtree. This is more than just an innovation hub, the FEIL in Mumbai will provide the necessary support to the agricultural revolution, creating sustainable and efficient, data-driven solutions tailored to the specific needs of Indian farmers.”
Nachiket Deshpande, Whole-Time Director & COO said, “At LTIMindtree, our efforts to build solutions are always focused on fostering an ecosystem where ideas and innovations flourish. With the launch of this innovation lab, our best talent and technology will revolutionise sustainable farming in India.”
“Creative Innovation Lab is a great step forward to bring global technology in India to support sustainable farming practices and enhancing farmers’ yield. Aligned with UN SDG Goal #2, Farmers Edge (a Fairfax Company) and LTIMindtree are poised to uplift the food supply chain, keeping sustainability at heart. As a Co-Chair of G20 Startup 20 Sustainability Task Force, I am very pleased to witness how digital technology is truly creating an impact on the ground, quite literally,” said Sanjay Tugnait, President, and CEO of Fairfax Digital Services.
As a testament to the international collaboration, Farmers Edge and LTIMindtree are facilitating the cross-pollination of best practices from North America to India. The specific goals include sustainability, yield enhancement, and cost reduction for Indian farmers. FEIL aims to create a tailored setup, focusing on weather, soil, and crop cycles unique to the Indian agricultural landscape.
About Farmers Edge
Farmers Edge is a global leader in digital agriculture, revolutionizing the industry with a broad portfolio of proprietary technological innovations, spanning hardware, software, and services. Powered by a unique combination of connected field sensors, artificial intelligence, big data analytics, and agronomic expertise, the Company’s digital platform turns data into actions and intelligent insights, delivering value to all stakeholders of the agricultural ecosystem. Farmers Edge disruptive technologies accelerate digital adoption on the farm and beyond, protecting our global resources and ensuring sustainable food production for a rapidly growing population. For more information on Farmers Edge, please visit www.farmersedge.ca. Additional information relating to the Company, including all public filings, is available on SEDAR+ (www.sedarplus.ca).
About LTIMindtree
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 83,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit https://www.ltimindtree.com/.
Forward-Looking Information
Certain statements in this press release constitute forward-looking information within the meaning of applicable securities legislation, and reflect the Company’s current expectations regarding future events. Forward-looking information is based on a number of key expectations and assumptions made by Farmers Edge. Forward-looking information is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Those risks and uncertainties include, but are not limited to, the factors discussed under “Forward-Looking Information” and “Risk Factors” in the Company’s most recent Annual Information Form, and under the “Risk and Uncertainties” section in the Company’s management discussion and analysis filed November 8, 2023, each of which are available on the Company’s website (www.farmersedge.ca/investor-relations/) and on SEDAR+ (www.sedarplus.ca). The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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