ImpactAlpha, February 3 – Indian agtech venture AgNext Technologies has raised $2 million from early stage tech investor Kalaari Capital and impact investor Omnivore. AgNext makes sensors to improve data, performance and transparency in the agriculture value chain.
AgNext launched in 2016 to bolster India’s agriculture sector, which hundreds of millions of people depend on to earn a living. Many of the “centuries-old” farming businesses are struggling to keep up with labor costs and earn a profit, according to AgNext co-founder Taranjeet Singh Bhamra. The company is attempting to help such businesses introduce technologies that support efficiency and productivity, from monitoring crop growing conditions to analyzing crop quality. Its early devices are meant for coffee, tea and spice producers.
The new round of funding comes less than a year since AgNext’s seed round, backed by Omnivore last April.