Tech Explained: Here’s a simplified explanation of the latest technology update around Tech Explained: Panama Hydro-X: Karnataka company revolutionising hydroponic farming with AI-backed technology in Simple Termsand what it means for users..
The Mangalore-headquartered company, funded by Panama Corporation, is headed by entrepreneur Vivek Raj. Pioneering the use of AI-enabled hydroponic farming, the company is working towards the use of innovative technology in the cultivation of high-value crops like saffron, ginger and turmeric, as well as medicinal plants through AI-driven monitoring and optimised growth cycles.
Raj, who has a net worth of $700 million, is investing ₹214 crore in AI-enabled hydroponic farming for growing the high-value spices and medicinal plants in Karnataka, according to PTI.
After spending ₹146 crore on research and development over the past few years, the company has come up with patented AI technologies. These include systems to detect crop diseases even before the physical symptoms appear. Further, they provide optimised artificial lighting for photosynthesis.
All About Panama Hydro-X And Panama Corporation
Panama Hydro-X has acquired 16 acres (6.5 hectares) of farmland in Karnataka to establish hydroponic farming infrastructure by the end of this year. It is expecting its first commercial harvest in June 2027.
As per the official website, the hydroponics system is aimed at solving major challenges in the agriculture sector, such as CO2 emissions, waste management, ecosystem collapse and food security. The company looks forward to growing nutritional food for elevated flavour.
Raj, 40, said that the company has seen good results during the trial period and received patents for its AI technologies from the UK, Australia and Germany. They are now planning to go for ‘large-scale implementation.’
As part of its new initiative, the venture is aiming to allocate five acres each for saffron and ginger. The remaining six acres of land will be for nine medicinal plants, like turmeric and ashwagandha.
Raj told PTI that they will export saffron and ginger to cosmetics and pharmaceutical companies, while the medicinal crops are for the domestic market.
The Panama Corporation is gearing up to develop mega saffron hydroponic vertical farms, with its operations powered by a “Smart organic led farming system based on Artificial Intelligence and Machine Learning Model”.
For the operations, Panama Hydro-X is planning to hire 37 engineers in Mangalore. It is registered in India and the United States.
During the trials, they were able to produce 1,200 bags of ginger per acre in comparison to 400 bags from traditional outdoor farming with the help of AI-enabled hydroponic farming. Each of these bags weighed 60 kg. It also enables three annual crop cycles instead of one.
The firm’s four patents cover:
- AI-enabled smart farming monitor.
- Hydroponic saffron disease detection system.
- Diffused Concurrent Convolutional Neural Network (DCCNN) to detect leaf colour changes through cameras.
- Smart LED farming system.
As of now, the company is not planning to licence the technologies on an immediate basis and is preferring to demonstrate commercial success first.
Founded in 2004, Panama Corporation initially began its operations in mining and mineral trading. It sourced 35 categories of minerals across more than 70 countries, developing logistics networks across Asia, Europe, America and Africa.
Diversifying its portfolio, the company later ventured into the agricultural sector. It sourced premium-quality farm produce directly from farms and ensured fair value for both farmers and consumers.
Raj’s entry into agricultural technology stems from personal loss. Back in 2013-14, his ginger crop spread across 5,000 acres in the Chikkamagaluru district was destroyed in a severe drought. This resulted in a major loss to Panama Nature Fresh Pvt Ltd, a company he started in 2014 with advance payments to farmers.