The chronological timeline and milestones in RML’s evolution are as under -
2006
» Seed Funding - RML gets seed funding from the Reuters Venture Board, chaired by Tom Glocer, CEO, Reuters. This phase includes research with hundreds of farmers all over India.
» Prototype Funding - Consumer research with prototypes involving over 1500 farmers.
» Ethnography and small scale market trials funding - A small scale service is run in Maharashtra along with running an ethnography study.
2007
» Production and scaled market trials funding - Several thousand farmers use RML to give feedback. MoU signed with Maharashtra State Agriculture Marketing Board (MSAMB).
» Launch in Maharashtra in October 2007 - Reuters Market Light is launched as a business by Shri Sharad Pawar, Union Minister of Agriculture, Government of India, in Pune amidst a gathering of hundreds of farmers and partners.
2008
» RML team shifts from UK to India. The RML business starts to operate from Mumbai.
» Punjab Launch - RML launched in Punjab by the Chief Minister, Shri Parkash Singh Badal.
2009
» Launch of RML Direct - RML launches an award-winning first ever card for Micro-information Services designed specifically for the farming community.
» Pan India expansion - RML expands content operations in 13 states of the country.
2010
» RML wins six awards including The World Business Development Award (WBDA) from the UNDP, ICC and IBLF.
2011
» Rapid scale-up.
» RML Impact validated through studies conducted by various independent organizations like World Bank, USAID, GIZ, LBS.
2012
» RML Card is awarded the NABARD Rural Innovation Award in the Private Sector – Agriculture & Allied Activities.
» RML crosses the 1 million unique registered consumers mark.
2013
» Thomson Reuters and IvyCap Ventures Advisors Private Limited (IvyCap), a venture capital fund management company team up to support the continued development of Reuters Market Light (RML). IvyCap, which is backed by the IIT Alumni Network, is the lead investor in RML with Thomson Reuters remaining as a shareholder and partner in the newly formed RML Information Services Private Limited.