[Funding alert] Agritech startup AgNext raises $21M in Series A round led by Alpha Wave Incubation
Summary
AgNext Technologies, the Chandigarh-based agritech startup, has raised $21 million in Series A round of funding led by Alpha Wave Incubation (AWI), with participation from existing investors Omnivore and Kalaari Capital. AgNext plans to use this capital to enter into newer commodities and international markets such as the Middle East, Europe, and South Asia. According to AgNext, the lack of quality assessment solutions leads to more than $90 billion in losses globally in the agriculture trade. Through a mix of AI, ML, Internet of Things (IoT), and advanced data analysis, AgNext provides rapid food quality assessment through its full-stack Qualix platform. We were very impressed by the depth of technological innovation shown by the company in building its AI platform.” AgNext has physical as well as chemical analysis solutions applicable across a wide basket of commodities, including grains, spices, tea, milk, and animal feed.