After a successful $4million Series A round, a European precision agriculture SME approached Challenge Advisory to design a comprehensive market entry strategy for the American agriculture industry.
After a successful $4million Series A round, a European precision agriculture SME approached Challenge Advisory to design a comprehensive market entry strategy for the American agriculture industry. The firm had developed a portfolio of solution which use ariel Imagery and farm data to detect, classify and geo-locate specific farm anomalies. The firm’s core capabilities and positioning lied in geospatial analytics, in particular, pest infestation and disease detection for row and field crops. 32% of the firm’s revenue came from 2000+ acre farms in Ukraine, after developing and deploying solutions for early detection of Aphids, Stink Bugs, Cereal Leaf Beetle, Wireworms and Mites. However, the firm’s deep geospatial expertise and AI modeling capabilities suggested widespread applications.
The client lacked the necessary market expertise in US agriculture to formulate a strategy and position themselves accordingly. The client also lacked the necessary relationships to drive proof of concepts with growers, farmers, and cooperatives, thus the primary challenge was achieving product-market fit, strategic positioning and a route to market. Challenge Advisory were also asked to coordinate POC’s for the client, as both parties agreed early validation is essential to achieving customer traction.
Focus on speciality crops in California
Core value proposition:
After conducting a capabilities assessment and aligning to our analysis on market needs and structures, we found 3 uses cases target uses. These use cases provided the greatest market opportunity and were identified as areas that the firm could create superior value in.
Route to market: