The Growth of AgriTech
On August 1 of this year, Cornell’s College of Agriculture and Life Sciences announced the renaming of the NYS Agricultural Experiment Station to Cornell AgriTech. Based in Geneva, NY, Cornell AgriTech conducts research on improving food and agricultural systems through technology.
In the past several years, there’s been huge growth in agritech advancements, as well as the popularity of this new market. In 2017 alone, over $10bn was invested in precision and technology-driven agriculture companies, and there was a 29% investment growth from 2016. (Read more here).
While agritech is becoming more mainstream, we’ve also recognized the emergence of a new market: agritech for the home. Companies today have been trying to solve the problems faced by those who live in seasonal climates and small apartments. When it comes to growing plants, Íko is taking the next step and maturing this market.
There are products that have been using technology to grow plants via in-home farms. For restaurants and larger scale kitchens, these products provide sufficient greens and herbs.
Other companies have created smaller in-home growing systems. Click & Grow and Aerogarden are examples of companies that have constructed products with plastic water bins and lights, which allow people to grow plants at home.
Then there’s Okavango. Our high quality countertop appliance has little sensors all around, constantly controlling the temperature and humidity. The lighting algorithms provide optimal growing conditions for your plants, every day. And it does all of this, using less energy than a single light bulb.
Okavango is wifi enabled and learns your routine as an individual. The app is its own little world, which provides statistics on how your plants are growing, as well as inspiration for meals using those herbs, catered just for you.
Íko is further embracing technology today, and we’ve situated ourselves in the agritech market. We can’t wait to bring this new product to market, and to make agritech more mainstream for the home.