SiloReal, is one of the first Latin American startups to offer a comprehensive solution to agribusiness producers for benefiting from their production stored in silo bags through the use of technology. They provide identity, proof of existence, and status of the silo bags with real-time remote monitoring, achieving traceability, security, and access to credit. This transforms the invisible assets in the field into connected real assets.

The US$ 1.5 million raised in the funding round in Argentina will be used to expand operations, increase their local team, and improve their technological processes while waiting to finalize a new round in Brazil.

In 5 years, the company expects to reach 40 million connected monitored tons in Brazil and Argentina, and their estimate is to have their revenues around US$ 70 million.

The origins of the business

Currently in Argentina, there are more than 450,000 silo bags in the field - around 70% of the harvest - while in Brazil there are around 150,000. These productions stored in the field are valued approximately at US$ 60 billion and are exposed to quality losses, vandalism, and lack of liquidity. 

These real assets are not visible or quantifiable, resulting in a lack of continuous and certifiable information that allows knowing their real-time existence status. At the same time, this temporary field storage suffers from climatic factors, aggravating the situation with the impossibility of using this asset as collateral for loans.

SiloReal, a company created in 2021 and co-founded by Delfín Uranga (CEO); José Domínguez (Director in Brazil), and Martín Saubidet (CCO), along with a multidisciplinary team of experts, solves the great problem of temporary storage of grain crops in Brazil and Argentina, originated by the insufficient capacity of traditional silos.

Delfín Uranga, CEO and co-founder of SiloReal, details: “We detected the increase in record harvests accompanied by the lack of silo storage along with logistics problems. Faced with this multiple scenario, the farmer resorts to keeping their grains in silo bags outdoors, unaware of their status or location, and with a high probability of losing what they cared for and maintained throughout the campaign, their harvest.” And adds: “We at SiloReal want to take care of the world's food and the producer's savings to maximize and activate their real value”.

The solution

To cover the problems that the agribusiness suffers, SiloReal offers a comprehensive service composed of three pillars that, together, solve the traceability, risk, and liquidity issues of the stored production for the merchandise owner.

1) Identity, Existence, and Status Proof

Comprising three silo bag monitoring services.

  • SiloID: Allows each silo bag to have its identity, becoming unique, visible, and traceable. It includes documentation of the silo bag assembly; digitization of information at the source; unique ID of each georeferenced silo bag with Field Merchandise Certificate.

  • SiloSat: Allows remote viewing of the SiloID through satellite images. It includes proof of existence of each SiloID; possibility to visualize the asset to third parties.

• SiloMetrix: Allows knowing the status of the stored grains and receiving real-time alerts. It includes telemetrics in silo bags with temperature, humidity, Co2, and movement sensors; immediate alerts about quality losses, theft, and vandalism; optimization of logistics management through Safe Storage Time (SST).

2) Stock Management

 Through the SiloReal platform, accessing from any device, the stock is visualized in real time.

3) Merchandise Registry

Enables access to an ecosystem formed to provide security, liquidity, and business opportunities through storage facilities, financial entities, decentralized finances, insurers, and security companies.

Originally, the startup began its operations in both countries as Identity on Field but now it changed its name to SiloReal because it faithfully represents its purpose of comprehensively addressing the existing issue.

Today, SiloReal has more than 50 clients, 221 establishments, and over one million tons of monitored grains in productive areas of Brazil and Argentina.

S. (2023, October 10). This technology startup focused on agriculture receives a US$ 1.5 million investment - Forbes Argentina. https://www.forbesargentina.com/negocios/esta-startup-tecnologica-enfocada-agro-recibe-inversion-us-15-millones-n42030