IIMA Venture-Backed Marsh Harrier Acquires AJA Vision Technologies
- ByStartupStory | September 27, 2024
Agritech startup Marsh Harrier, backed by IIMA Venture, has announced the acquisition of AJA Vision Technologies, a computer vision company based in Ahmedabad, Gujarat, in an undisclosed deal. This strategic acquisition is set to enhance Marsh Harrier’s technological capabilities, particularly in automation and computer vision, key elements for advancing its packhouse solutions for fruits and vegetables.
By integrating AJA Vision Technologies’ advanced software stack and experienced team, Marsh Harrier aims to strengthen its market position and accelerate the development of innovative product lines in the post-harvest sector. The acquisition will help Marsh Harrier expand its offerings in the grading, sorting, and online packing of agricultural produce, contributing to its vision of providing fully indigenous solutions for packhouse automation in India.
Mr. Nitin Gupta, CEO of Sickle Innovations Private Limited, the parent company of Marsh Harrier, commented, “We have seen tremendous growth in the last few years in the packhouse automation business, and this is the perfect time and opportunity to strengthen our internal capability to meet the demand of the industry. This move also goes in line with our expansion plans to build new categories.”
The deal aligns with Marsh Harrier’s mission to address the growing demand for automation in the Indian agritech sector, which is witnessing rapid growth due to the adoption of AI, machine learning, and computer vision technologies. Automation in post-harvest processes like grading and sorting is expected to grow globally at a compound annual growth rate (CAGR) of over 10% by 2030. In India, the agritech sector, currently valued at $24 billion, is projected to grow at 12-15% annually over the next five years, supported by government initiatives like AgriStack and increased backing for agri-tech startups.
Marsh Harrier, under the umbrella of Sickle Innovations, has carved a niche in the agritech industry by developing optical grading and sorting solutions for fruits and vegetables, including apples, kinnows, oranges, and pomegranates. The company, founded in 2014 with seed funding from IIMA Venture and SID IISc Bangalore, has achieved profitability despite being bootstrapped. The founders, both graduates of the Indian Institute of Science Bangalore, have led the company to win several awards, including the National Entrepreneurship Award from the Government of India.
Mr. Jignesh Patel, CEO of AJA Vision Technologies, expressed his excitement about the acquisition, stating, “I was surprised to learn that India is the second-largest fruit producer globally, yet post-harvest operations remain largely manual. From an AI/ML use case perspective, this presents an incredible opportunity. We are truly impressed by Marsh Harrier’s team’s practical approach to addressing this challenge.”
Founded in 2017, AJA Vision Technologies specialises in industrial automation solutions using computer vision across sectors like pharmaceuticals, agriculture, and automotive. Their expertise in computer vision and automation will play a pivotal role in bolstering Marsh Harrier’s R&D efforts and pushing forward innovation in Indian agricultural automation.
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