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N.O.A.H. uses satellite data and AI to revolutionize crop insurance, offering real-time insights to farmers and insurers
Mikhail Aleksandrov, co-founder of N.O.A.H. based in Netanya, Israel, has always dreamed of applying space technologies to solve real-world problems. With a background in M&A consulting, Mikhail took a bold step in his career, leaving his home country and embarking on a new journey in the field of SpaceTech. His drive to use satellite data to create innovative solutions has led to the founding of N.O.A.H., a company focused on revolutionizing the crop insurance industry.
Mikhail’s interest in SpaceTech was sparked by his long-time dream of traveling to Mars, a goal he set for himself in his 20s. However, as he dove deeper into the field, he quickly realized that while Mars journeys were still far off, there were vast amounts of satellite data being generated every day. The challenge, however, was that most of this data was being used for military and government purposes, with few commercial applications.
"I realized that there was a huge opportunity to use satellite data for everyday applications," Mikhail explains. "With the help of my co-founder Sergey, we decided to focus on the crop insurance industry, applying space data to provide real-time, accurate information to farmers and insurance providers."
N.O.A.H. was born from a desire to modernize crop insurance by leveraging satellite data and machine learning algorithms. The company’s goal is to make crop insurance faster, more efficient, and based on current data rather than outdated statistics. By feeding satellite data into their proprietary machine learning algorithm, N.O.A.H. can provide actionable insights, such as yield predictions, to the crop insurance industry.
"We saw that the crop insurance industry, particularly in the U. S., was ripe for disruption," Mikhail says. "Most of the data used in the industry is based on historical statistics, but with the technology available today, there’s no reason why farmers shouldn’t have access to real-time, accurate information to protect their crops."
N.O.A.H.’s solution aims to address several key pain points in the crop insurance industry. The current system often relies on outdated data and slow processes, leading to inefficiencies and financial losses for both farmers and insurers. N.O.A.H. seeks to change that by providing a precision agriculture solution specifically designed around the U. S. MPCI (Multi-Peril Crop Insurance) program.
"We are the first precision agriculture solution built around the MPCI program," Mikhail explains. "Our platform provides yield predictions, agricultural advice, and coverage recommendations based on real-time satellite data, making crop insurance more responsive and accurate."
Before launching N.O.A.H., Mikhail and his team conducted over 80 interviews with stakeholders in and around the crop insurance industry to understand their needs and pain points. This feedback helped shape the company’s focus on using satellite data for yield predictions and insurance coverage advice.
"Talking to people in the industry gave us invaluable insights into the challenges they were facing," Mikhail recalls. "We knew that our solution could make a real difference in how crop insurance is managed, and that motivated us to push forward."
One of the biggest global challenges N.O.A.H. aims to address is climate change, which has a significant impact on the agricultural sector. As climate change threatens food security, farmers and insurers need more accurate and timely information to mitigate risks.
"The effects of climate change are being felt across the agricultural industry," Mikhail explains. "By using satellite data, we can provide farmers with real-time insights to help them make better decisions and protect their crops from extreme weather events."
In addition to the growing concerns over climate change, the affordability and accessibility of satellite data have improved significantly. N.O.A.H. is able to leverage high-resolution satellite imagery without the need to launch new satellites, making the technology more accessible and affordable for their clients.
While N.O.A.H. has global ambitions, the company is initially focusing on the U.S. crop insurance market, which is valued at over $22 billion annually. With the MPCI program acting as the primary safety net for American farmers, N.O.A.H. sees a significant opportunity to make a difference in this space.
"We’re laser-focused on the U. S. market right now," Mikhail says. "It’s a massive market with a lot of potential, and we believe that our technology can revolutionize the way crop insurance is managed in the U.S."
The precision agriculture space is becoming increasingly crowded, with competitors like Cropix, GreenTriangle, Taranis, and Climate AI making waves in the industry. However, N.O.A.H. sets itself apart by building its platform specifically around the MPCI program, which is unique to the U.S. market.
"We are the only company that has tailored its precision agriculture solution around the MPCI program," Mikhail explains. "This gives us a competitive edge, as we are focused on solving the specific challenges faced by U. S. farmers and insurers."
N.O.A.H. plans to generate revenue through a subscription-based model, charging farmers and insurance providers a monthly fee based on the number of acres under management. This approach allows the company to lower the financial burden on its customers while providing a steady stream of revenue.
"We want to make our platform as accessible as possible," Mikhail says. "By offering a subscription-based model, we can ensure that farmers and insurers only pay for what they need, without a large upfront cost."
As N.O.A.H. continues to grow, the company is focusing on building strategic partnerships with key players in the crop insurance industry. Recently, N.O.A.H. became a proud member of the Crop Insurance Professionals Association (CIPA), which Mikhail sees as a major step forward in gaining access to the industry’s key stakeholders.
"Being a part of CIPA puts us at the center of the crop insurance industry," Mikhail explains. "It gives us the opportunity to connect with crop insurance producers and build the partnerships that will help us scale our business."
Like any startup, N.O.A.H. has faced its share of challenges. The company is bootstrapped, which means Mikhail and his team have had to be creative and resourceful with their limited budget. Despite the challenges, N.O.A.H. has managed to build a working prototype and test it on over 6,000 acres of land in the U.S.
"We’ve had to be very strategic with our spending," Mikhail says. "But I’m proud of what we’ve accomplished with the resources we have. We’ve been able to build a working prototype and prove that our technology works."
Looking ahead, Mikhail and his team have ambitious plans for N.O.A.H. They are currently in discussions with investors and have a soft commitment for $100,000 from an angel investor. The company’s goal is to generate at least $100,000 in annual recurring revenue (ARR) by 2025.
"We’re excited about the future," Mikhail says. "We’ve already made great progress, and we’re confident that we can scale our business and make a real impact in the crop insurance industry."
Mikhail’s journey has been filled with ups and downs, but he remains optimistic about the future of N.O.A.H. His advice for aspiring entrepreneurs is simple: be prepared for things to not go as planned, and stay resilient in the face of challenges.
"Startups are always an experiment," Mikhail says. "You have to be willing to adapt and pivot when things don’t go as expected. But as long as you stay focused on your vision and keep moving forward, you’ll eventually get there."
In the next 5-10 years, Mikhail envisions a world where crop insurance is fully digital, with embedded insurance solutions that integrate seamlessly with traditional coverage plans. He hopes that N.O.A.H. will be the first company to build a truly digital crop insurance platform that simplifies the process for farmers and insurers alike.
"Our goal is to lead the way in digital crop insurance," Mikhail says. "We want to make the process easier, faster, and more efficient, so that farmers can focus on what they do best — growing food to feed the world."
N.O.A.H.: Revolutionizing Crop Insurance with SpaceTech
