CropLogic betting on agri-technology
Chief executive Jamie Cairns said CropLogic’s new mobile app, and its potential to collate crop-related decision making technology in accessible manner, is attracting global interest.
“Funds have come on board that identify this as the tech which could ultimately enable a big roll up play in the agronomy service sector,” Cairns said.
Using probes, drones and phones, the technology can for example analyse a history of irrigation patterns and soil moisture trends and offer advice on enhancing crop yields. It builds on the research and technology of the New Zealand Institute for Plant and Food Research.
Despite CropLogic’s underwhelming listing on the Australian Securities Exchange in September – its shares have fallen 57 per cent from their issue price of 20 cents – Cairns said the company is positioned to make good on its promises to shareholders.
“Obviously the share price is not where it should be, but operationally the business has been performing exceptionally well, the biggest thing for me is to actually illustrate to shareholders that we can do what we say were going to do.”
The app was demonstrated in December in Washington State in the US, where it will be launched ahead of the US crop growing season. Cairns said the immediate priority is servicing 60,000 acres, or 30 per cent, of the potato market in Washington State, and then rolling out into Australia’s ideal – vast and dry – agricultural sector.