Ricult provides AI-powered satellite monitoring and data collection tools to ensure compliance with the European Union Deforestation Regulation (EUDR) for the rubber and palm oil industries. Their platform automates traceability and deforestation detection, enabling businesses to meet regulatory requirements while enhancing supply chain transparency.
Funding
$2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The European Union Deforestation Regulation (EUDR) imposes strict requirements on businesses exporting or importing rubber and palm oil, demanding meticulous data collection, traceability, and proof of deforestation-free sourcing. Meeting these requirements involves complex processes for data collection, risk assessment, and ongoing monitoring, creating significant compliance burdens for businesses in these industries.
Solution
Ricult offers an AI-powered platform that streamlines EUDR compliance for the rubber and palm oil industries by automating traceability and deforestation detection. The platform uses satellite monitoring and AI to trace commodities to their exact geolocation, providing evidence of the deforestation status of each supplier. This enables businesses to efficiently collect and store necessary data, conduct risk assessments, and generate due diligence reports, ensuring adherence to EUDR standards. Ricult's solution simplifies the complexities of regulatory requirements, allowing businesses to maintain sustainable growth while meeting compliance obligations.
Target Audience
The primary customers are rubber and palm oil traders, exporters, and importers who must comply with the European Union Deforestation Regulation (EUDR).
Features
- AI-enabled satellite intelligence for automated deforestation detection and monitoring.
- Geo-tagging capabilities using SAR technology for precise commodity tracing.
- Ricult X Dashboard: A centralized hub for comprehensive analytics and reporting.
- Automated report generation for EUDR compliance.
- API integration for seamless data transfer into existing systems.
- Ricult Farmer App: Enables on-the-ground data collection at the farm level.
- Ricult Agent App: Streamlines sourcing information collection from local distributors and buyers.