Global agriculture challenges
Agriculture consumes 70% of the water used by humans and of that, up to 60% is wasted through inefficiencies, largely caused by a lack of monitoring, accountability and information. Manual monitoring of water supply, demand and infrastructure consumes farmers’ precious time and provides intermittent data, so problems and opportunities to optimise usage typically go unnoticed.
The agriculture industry needs to focus on the efficiency of water use. In order to facilitate a transition to a more sustainable and productive agricultural sector that is resilient to water risks, carbon emissions and at the same time facilitate a rise in production to address the demands of a growing population.
We need a solution and we need it quickly.
This is where Farmbot comes in
Farmbot core product is a Water Level Sensor, a device located on a water tank, dam or irrigation channel. The Saas Platform gathers data points via a unique IoT monitoring device that provides farmers with real-time insights into water levels, trends and alerts anywhere in the world. Farmbot is easy to install (a 10-minute self install), use and maintain and able to create a network of devices that can communicate back to the cloud, via 3G/4G or Satellite networks. Farmbot’s proprietary software then delivers water insights to users via their phone, tablet or PC. This critical water data is accessible and visible anywhere in the world.
Farmbot is revolutionising water management practices and delivering economical, sustainable, and productive outcomes. The company has over 5,000 monitors in place across Australia delivering real-time alerts and reporting of water trends and consumption of on-farm water ecosystems.
On the cusp of global expansion
The team has expanded from 15 to over 35 employees in 12 months. Farmbot’s simple proposition is #knowyourwater. The team is focused on bringing their vision to life “to provide visibility and control over water assets to contribute to a more sustainable and stable water supply in the future”.
While much of Australia, and the world, continually feel the ongoing effects of COVID-19, agriculture is thriving. Improved weather conditions, the importance to digitise operations, and implementation of sustainability measures combined with strong brand awareness and recognition has led to Farmbot’s best sales since inception. Year-on-year revenue growth is 45%.
The business is working towards US expansion with plans to commence operations in late 2021/ early 2022. A pilot is currently being conducted in California to test the market and aid with successful expansion. 50 Water Level Monitors are on trial on ranchers throughout the state, each trial customer is providing direct feedback that will deliver an effective go-to-market strategy.
Product innovation, the pressure for sustainability measures and global expansion are three key factors that are assisting Farmbot with achieving exponential growth. The team is focused on aligning its business goals with the United Nations’ Sustainable Development Goals and delivering a more sustainable and profitable future for the business and their target audience, farmers.