‘Praman’, an agriculture produce trade exchange platform by Intello Labs launches
- ByStartupStory | October 18, 2021
Praman, a trade exchange platform, was launched by Intello Labs, an artificial intelligence focused agricultural technology company, as part of a larger goal to create a layer between farmers and traders through digital transformation.
The platform, which was in stealth mode for a few months and includes a built-in quality assessment, now allows cash trading and the sale of agricultural products. A few months after launch, Praman had already achieved a gross monthly transaction value (GTV) of $40 million. According to the organization, agricultural trade is shifting from physical to digital and Praman is accelerating the process.
Praman redesigned auctions and trading through AI-powered quality assessment, transforming them into digital and data-driven processes that break the boundaries of current manual processes by automatically generating quality reports that are integrated directly into the exchange platform, depending on the organization . Praman also remotely provides data on the quality of agricultural products, allowing traders to trade in real time without having to be physically present at auctions or markets.
Over the next two quarters, he expects the platform to reach a monthly GTV of $100 million, making it India’s largest agribusiness exchange. Founded in 2016, Intello Labs currently has offices in India, the United States, Europe and Southeast Asia.
“We are excited to give the entire negotiation process a digital facelift, allowing us to expand our geographic footprint and reach new markets. This project is another step towards Intello Labs’ goal of becoming a leader in agrotech and innovation Intello Labs co-founder and co-founder said CEO Milan Sharma. “In the industry, we have paved the way for automation and standardization. Praman’s convenience, speed and efficiency are only a matter of time before they pave the way for the future of digital agricultural commerce.
Intello Labs is a global AI-based agro-tech quality analytics start-up. With a presence in India, the United States, Europe and Southeast Asia. Intello Labs uses computer vision, machine learning and AI to digitize food quality assessment and control.
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