Countdown to Groceryshop 2019: Innovator Spotlight Profiles — AGTools
- The Coresight Research team will be attending and participating in the Groceryshop 2019 conference, which runs September 15-18 in Las Vegas. The conference is expected to bring together over 3,000 attendees and more than 200 speakers.
- We’ll be talking about the transformation of the retail industry, shifts in consumer behavior and innovations that are helping retailers keep up with fast-changing consumer expectations.
- On September 15, Coresight Research CEO and Founder Deborah Weinswig will emcee the Emerging Technology Spotlight session in which 20 innovative, early-stage technology companies (pre-Series A) will present solutions that solve major retail problems. The companies include: Adrich, Datasembly, ShopperMotion, Simporter, Oriient, Pick ‘n’ Watch, SuperUp, Tastry, Tiliter Technology, BrandChat, CoupDog, RetailAware, Shopperations, AGTools, Babylon, Gather AI, Leaf Logistics, Macondo Ventures, MeisterDish and Simplista.
In this report we profile AGTools, which collects and analyzes a wide array of data related to agricultural products to better inform “agribusiness operators” – from farmers to distributors to marketers – planning, delivery and marketing in order to reduce waste, lower distribution costs and improve profitability.
This report is part of our 2019 Countdown to Groceryshop: Innovator Profiles series. To view the other reports in this series, click here.
The Coresight Research team will be attending and participating in the Groceryshop 2019 conference, which runs September 15-18 in Las Vegas.
The conference is expected to bring together over 3,000 attendees and more than 200 speakers. Discussion topics will include the transformation of the retail industry, including convenience stores, supermarkets and e-commerce, and changes in the production and distribution of CPGs across multiple retail verticals.
The event also covers the rapid shifts in how consumers discover, shop and buy — from the use of new technologies and business models to the latest shopper trends.
Emerging Technology Spotlight Session
This is the second year the Coresight Research team will support Groceryshop’s early-stage technology startup event: On September 15, Coresight Research CEO and Founder Deborah Weinswig will emcee the Emerging Technology Spotlight, which features 20 innovative technology companies presenting their solutions to solve major retail problems.
Groceryshop selected the participating startups based on their solutions, looking for companies that solve some of the most pressing challenges in grocery, e-commerce, food and CPG. All participating startups offer business-to-business (B2B) solutions. Over 130 companies applied to present at the event: From that group, we selected the 20 using a rigorous vetting process.
These are some of the selection criteria:
- Early-stage, defined as pre-series A funding.
- Relevant to the grocery and/or CPG industries.
- B2B solutions (not consumer-facing).
- Scalable (good growth prospects).
- Highly innovative (deep differentiation).
- Important (solving a major industry problem).
The companies span several countries, although most are based in the US:
- US: 14
- Canada: 2
- Israel: 2
- Australia: 1
- Spain: 1
We categorized the 20 companies into four buckets of retail disruption:
Data and Insights: Digital technology is creating new metrics and capabilities to glean insights and understand the best way to meet and exceed customer expectations.
Improved Shopping Experiences: Shoppers demand intuitive and more seamless grocery experiences, both online and in-store. Grocery retailers face challenges in keeping their assortment up to date and in sync with fast-changing consumer demand.
Next-Generation Marketing: With so many different touchpoints and channels to reach consumers, engagement has become more complex than ever. There are also rapid shifts in how consumers discover, shop and buy. New marketing technologies help grocery retailers and CPG’s engage and acquire customers.
Operations and Supply Chain: Over the next few years, new omnichannel grocery offerings will likely go mainstream, giving consumers new experiences as well as more convenient delivery and pickup options. Simultaneously, technologies such as robotics, AI and IoT are changing how grocery items move from producer to store to consumer.
AGTools at a Glance
Founded in 2015, AGTools uses machine learning to collect and analyze a wide array of data related to agricultural products. The company’s solution generates actionable insights for famers, buyers and shippers in the agriculture supply chain. The data dashboard aggregates public and industry data on over 76 supply, shipping and market variables to provide intelligence for planning, delivery and marketing.
The company provides real-time data services to farmers and corporate buyers covering over 500 fruits, vegetables, herbs, nuts and ornamentals, according to the company. The platform takes immense amounts of data and simplifies it to key factors that improve decision making for farmers, corporate buyers and all food supply chain stakeholders.
The benefits include:
- Farmers can plan their harvest based on real-time data to maximize yield, increase profit and reduce waste.
- Buyers have a deeper understanding of market options on any given day in terms of product availability, surplus and shifting pricing.
What Problem Does AGTools Solve?
Farmers, agricultural buyers and distributors face the uncertainty of agricultural, logistical and political developments which can impact yield. Farmers, for example, face a number of unpredictable variables that can affect their bottom line, such as labor strikes, changes in consumer preferences, weather, crop pricing and more. A predictive analytics solution that aggregates large amounts of data and simplifies to key factors can improve decision-making for farmers, suppliers and buyers.
Furthermore, food waste is a massive global issue: According to a study published in 2011 by the Food and Agricultural Organization of the United Nations, nearly one-third of global human food production is wasted. Data insights help growers and buyers make more accurate decisions on production, distribution and future capabilities.
Founder and CEO Martha Montoya has over 25 years’ agricultural and supply chain experience. She serves as member of the California State Board of Agriculture and Food.
Worldwide, some $350 billion worth of food is lost between farms and distribution centers. AGTools solution can help reduce loss.