Agritech startup AgNext, an artificial intelligence (AI) solutions provider for enabling agricultural trade, has obtained $21 million to spread out across international markets like the Middle East, Europe and South Asia.
It would also set up a new office in Abu Dhabi for deeper reach into the targeted markets.
The Series A round was led by Alpha Wave Incubation (AWI), with participation from existing investors Omnivore and Kalaari Capital. This round was a mix of primary and secondary components. AgNext’s early backer a-IDEA NAARM exited the company with five times returns on their investment post this round.
A part of this funding would also be used to scale up AgNext’s full stack platform for AI-enabled trade to ensure transparency in global food value chains.
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