In October of 2016, Mrignak Sharad and Taranjeet Singh founded AgNext, agriculture sensing solutions startup. It received an undisclosed capital investment from Omnivore Partners last April. And recently it secured investment from Kalaari Capital. The total amount of funds it secured within 12 months is approximately $4 million. With this fresh infusion of funds, the firm seeks to expand its market and product portfolio.
Chandigarh: In April of 2018, AgNext had raised an undisclosed amount of funding. This round of funding came from Omnivore Partners. This round also saw participation from Samir Kumar, a Singapore-based tech investor. Since then the company had been raising funds through different rounds of funding.
Agriculture had been an unexplored area in the field of startups. Then in 2016, AgNext was founded with goals to optimize and upgrade the agricultural sector. The firm collects temporal, spatial and spectral data from the agricultural and food value chains. This data is used to aid growers, farmers, and food processors in increasing quality, production, and profits from goods.
The startup has also developed an integrated digital platform to organize and carry out its operations. The firm is on the lookout for selected row crops which have a market in India and are in demand in other countries, horticulture, and plantations.
Related Article: The Blue Mountains to Solve Sydney’s Traffic Issues
With this fresh funds, the company plans to scale up its team and expand the firm’s product portfolio.
Vani Kola, MD of Kalaari Capital, stated,
We at Kalaari believe that AgNext’s cost-effective and unique technology can offer tremendous savings to agribusinesses and affiliated growers both at pre and post-harvest stages by improving quality and traceability across the agri-value chain.