Thursday, September 29, 2022
HomeInsightFunding Alert Agritech startup Absolute raises $100 mn from Sequoia, others

[Funding alert] Agritech startup Absolute raises $100 mn from Sequoia, others

Agritech startup Absolute
Agritech startup Absolute

Absolute, an Agri-tech startup has raised $100 million in its recent funding rounds from Sequoia Capital India, Alpha Wave Global, and Tiger Global.

The startup plans to use the funds to strengthen the firm’s technology, recruit and scale to new markets and territories.

The New Delhi-based Absolute was founded in 2015 by Agam Khare and Prateek Rawat, It has 3 main platforms – the Bioscience Research Platform, the Universal Farms Operating System (Farm OS), and the Global Trade Platform.

With over six years of experience, the company understands the microscopic details of nature’s molecular building blocks that affect agricultural yield and quality.

Agritech’s R&D Platform (BioX) works at the intersection of Plant Biology, Microbiology, Omics, Molecular Biology, Epigenetics and Artificial Intelligence (AI).

The company said in a statement that its Farm OS platform helps farmers generate insights on how to maintain the most optimal growing conditions during the crop cycle, which helps increase yield by up to 20%, thereby increasing profitability by up to 40%.

Through its global trading platform, Absolute currently provides fresh produce to approximately 10 countries and plans to rapidly expand to other markets.

“Our pursuit is to drive the world towards an inflection point where science-led agronomy practices converge to create a profound impact on the lives of farmers and consumers,” said, Prateek Rawat, co-founder, and chief operating officer of Absolute.

Navroz D Udwadia, Co-Founder, Alpha Wave Global, said that Absolute’s AI-powered scientific approach to agriculture creates a meaningful upliftment for all participants in the agricultural value chain.

About Absolute

At Absolute, they are intersecting technology, science, and agriculture to go beyond what even Organic food can offer! All their produce is 100% natural and Non-GMO. They control every aspect of farming, from seed to harvest, to ensure the highest quality of produce. Their veggies are densely loaded with nutrition and grow without any chemicals, pesticides, fertilizers, or adulterants.

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