Indian start-up Intello Labs has officially launched Praman, its new artificial intelligence (AI)-powered agriculture trade exchange platform.
Praman features integrated quality assessment and currently facilitates spot-trading and e-auctioning of agri-commodities including cardamom, onions, garlic, pomegranates, apples, potatoes, and tomatoes.
Intello Labs soft launched the platform mid-2021 and it has already achieved a gross transaction value (GTV) of US$40m.
Milan Sharma, co-founder, and chief executive of Intello Labs, said Praman breaks the limitations of the current manual processes, automatically generating quality reports using the company’s mobile grading technology. This is then fed directly into the exchange platform.
In addition to automating workflow, Praman makes data on quality of the agri-produce remotely accessible, allowing traders to participate in real-time from anywhere, without the need to be physically present at auctions or market yards.
"We are pleased to give the entire trading process a digital makeover, driving geographic expansion and market outreach. This initiative is one more step in establishing Intello Labs as a leader in agri-tech and innovation," said Sharma.
"We’ve set the path to automation and standardisation in the industry. It is only a matter of time before the convenience, speed, and efficiency of Praman set the path for the future of digital agri-trade."
Praman is growing across all commodities and Intello Labs said it expects to hit a monthly GTV of US$100m within the next two quarters.