Samunnati, SatSure sign MoU to enable farm monitoring of loanee farmers to mitigate risk

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28 September 2021, New Delhi: SatSure would enable farm-level monitoring of crop performance for loanee farmers of Samunnati and Samunnati would provide financing solutions to SatSure for their working capital and expansion requirements.

Samunnati, a specialised agri value chain enabler has signed a memorandum of understanding (MoU) with SatSure, an innovative decision analytics leveraging advances in satellites remote sensing, machine learning and big data analytics, for three years of partnership wherein SatSure would enable farm-level monitoring of crop performance for loanee farmers of Samunnati and Samunnati would provide financing solutions to its partner for its working capital and expansion requirements.

Key areas of collaboration

  • Farm-scoring as a pre-cursor to Smart Cultivation Loans, including assisting SatSure to validate the scoring model.
  • Farm-level monitoring of crop performance for loanee farmers.
  • Regional satellite data analysis through APIs from its Sparta platform for enabling the farmer producer organisations (FPOs).
  • Samunnati to establish input and output potential.
  • Co-develop and collaborate on designing weather insurance solutions focused around FPOs and smallholder farmers.
  • Explore opportunities to collaborate with other fintech players for increasing finance and insurance penetration.
  • Any other areas of synergy which may emerge from time to time.

Samunnati shall assist SatSure on

  • Providing financing solutions to SatSure for their working capital and expansion requirements, including facilitating finance from a number of financial institutions for future requirements.
  • Introduce ecosystem partners for utilising their insights.
  • Explore introducing SatSure on various technology platforms built by Samunnati like FPO Gateway, Samunnati Academy and Farmer Application.

Also Read: FAO Regional Office for Near East and North Africa

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