Ricult is an award-winning social enterprise founded by MIT alums that develops AI/Tech/Financial-based digital solutions for the agricultural ecosystem, focusing on smallholder farmers in developing countries.
We have built an ecosystem in which multiple players in the agricultural value chain benefit from improved productivity and profitability. Our diagnostic and predictive analytics use our proprietary machine learning algorithms, leveraging satellite imagery, agronomic models and weather data. Smallholder farmers can access bank loans, agronomy, pricing and weather insights along with access to buyers through our app and IVR, resulting in a 17% increase in profitability and a 22% increase in productivity. Banks, food processing mills and agribusinesses benefit from Ricult’s data by enabling them to make more informed decisions about yield forecasts, risk profiling, credit scoring, extreme weather / flood assessment and customer acquisition, leading to improved operational efficiencies.
Ricult helps farmers implement best practices and get better access to credit and crop buyers, helps banks in giving out loans faster, and helps food processing mills in optimizing their supply chains and promoting sustainability. Currently, more than 150,000 farmers benefit from our platform in Thailand and Pakistan. The Ricult platform has helped increase yields, improve profitability and optimize fertilizer usage, making Ricult a Triple Bottom Line company.
RicultX processes data from multiple sources and generates actionable insights for all stakeholders in the agricultural value chain, using machine learning algorithms.
Ricult started
Ricult Pakistan, credit lending initiated with 36 farmers - 54% default
Ricult gets selected for the MIT Delta V Accelerator
Ricult Pakistan, 2nd credit lending cycle reduces default rate to 34%
Ricult Pakistan wins Fintech Disrupt Challenge sponsored by Bill & Melinda Gates Foundation/ Karandaaz
Ricult Pakistan brings default rate to 0% through improved Credit Scoring Models
UNIDO International Award - "Innovative Ideas and Technologies in Agribusiness"
Ricult Pakistan Output Selling Model launched Ricult Thailand Operations started
Ricult Thailand Agronomy support pilot launched
Ricult Crop Output Management App launched in Pakistan
Ricult Farmer App launched in Thailand
Ricult Pakistan signs partnership with Jazz
Ricult crosses 100,000 farmer app downloads
Ricult farmer app crosses 150,000 downloads
Ricult Pakistan partners with Better Cotton Initiative
Ricult Thailand launches digital lending services
Ricult Thailand launches Farm Inputs E-commerce services
Ricult Thailand launches Digital Crop Insurance services
Ricult Pakistan signs Jazz/GSMA Mobile Money Partnership
Ricult started
Ricult Pakistan, credit lending initiated with 36 farmers - 54% default
Ricult gets selected for the MIT Delta V Accelerator
Ricult Pakistan, 2nd credit lending cycle reduces default rate to 34%
Ricult Pakistan wins Fintech Disrupt Challenge sponsored by Bill & Melinda Gates Foundation/ Karandaaz
Ricult Pakistan brings default rate to 0% through improved Credit Scoring Models
UNIDO International Award - "Innovative Ideas and Technologies in Agribusiness"
Ricult Pakistan Output Selling Model launched Ricult Thailand Operations started
Ricult Thailand Agronomy support pilot launched
Ricult Crop Output Management App launched in Pakistan
Ricult Farmer App launched in Thailand
Ricult Pakistan signs partnership with Jazz
Ricult crosses 100,000 farmer app downloads
Ricult farmer app crosses 150,000 downloads
Ricult Pakistan partners with Better Cotton Initiative
Ricult Thailand launches digital lending services
Ricult Thailand launches Farm Inputs E-commerce services
Ricult Thailand launches Digital Crop Insurance services
Ricult Pakistan signs Jazz/GSMA Mobile Money Partnership
Ricult has helped us double our yield by giving us customized agronomic advice and also helping us in getting a loan from a bank, all through the mobile phone.
Muhammad Allah Yar, Theeng More, Kasur, PakistanAfter I sow rice, I have to wait for rain to fall on my dry field. Ricult helps tell me when there will be rain. I think it’s good… it makes me feel relieved to not have to wait hopelessly [for rain].
“พี่หว่านข้าวนาแห้งรอฝน การใช้รีคัลท์ช่วยให้พี่รู้ว่าจะมีฝนช่วงไหน ก็ดีนะ … ช่วยให้เบาใจได้ ไม่ต้องรออย่างไม่มีความหวัง” Location: Chacheongseo, Crop Rice + vegetables + fruit Thai Farmer testimonial