Agricx Lab raises $500,000 from Ankur Capital
IIM-Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship also invested in agriculture-focussed technology start-up Agricx Lab
New Delhi: Agriculture-focussed technology start-up Agricx Lab, that has a solution to assess the quality of agriculture produce using a smartphone camera, has raised $500,000 from venture capital firm Ankur Capital, the investor said Tuesday.
Indian Institute of Management- Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) also invested as part of this round.
Mumbai-based Agricx Lab has developed a mobile app that uses a bunch of technologies on crop images to assess its quality.
The solution is currently being used across warehouses and paid pilots have been initiated with large buyers, the company said.
The start-up was launched in October 2016 by Ritesh Dhoot and Saurabh Kumar.