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Saudi Aramco backs India’s Mitti Labs to make Asia’s rice farming morewater-resilient
Saudi Aramco Ventures has invested $9.5 million in India's Mitti Labs to enhance water-resilient rice farming in Asia. Mitti Labs uses satellite imagery and AI to reduce water use and methane emissions in rice cultivation. With this funding, it aims to grow from 100,000 farmers currently to millions by 2030, expanding its operations across Southeast Asia.
Key points
- Investment of $9.5 million by Aramco Ventures, part of Saudi Aramco, to support Mitti Labs; total raised amounts to $12.5 million.
- Mitti Labs uses satellite imagery, AI, and field data to create digital twins of rice fields for monitoring.
- Farmers adopting Mitti Labs' platform reduce water use by 40% and methane emissions by over 50% without yield loss.
- The startup has expanded its reach from 8,000 farmers to over 100,000 in one season, with plans to target millions by 2030.
- Mitti Labs seeks to enter compliance carbon markets and adapt its model for different ecosystems and irrigation systems as it expands.
Why it matters
- Rising temperatures and shifting precipitation patterns are affecting water-intensive agricultural practices globally, aligning with broader climate change discussions.
- Database digital twins have become significant in precision agriculture, enhancing resource-use efficiency in farming, which is critical for future food security.
Mitti Labs' collaboration with Saudi Aramco marks a crucial step in enhancing agricultural sustainability in Asia, leveraging technology to manage resources better in the face of climate change challenges.