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    Agri10x raises undisclosed seed funding from Omnivore

    Synopsis

    Agri10x provides a blockchain and AI-enabled e-marketplace that connects farmers directly with buyers, helping them sell their produce at competitive prices.

    agritech
    Agritech startup Agri10x on Thursday said it has raised undisclosed seed funding from venture capital firm Omnivore.

    Agri10x provides a blockchain and AI-enabled e-marketplace that connects farmers directly with buyers, helping them sell their produce at competitive prices.

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    “Indian farmers face huge challenges bringing their produce to market and often receive suboptimal pricing as a result. The platform we are building at Agri10x will address many of these challenges and help farmers improve their incomes substantially,” said Pankajj Ghode, cfounder and CEO of Agri10x. “We are excited to partner with Omnivore as we streamline agricultural value chains across India while supporting farmers.”

    The Pune-based firm was set up in 2018 by Ghode, Sundeep Bose (CTO) and Abhijith Naraparaju (COO) and has operations in Maharashtra, Bihar, Uttar Pradesh and Gujarat.

    Blockchain plays a critical role in Agri10x’s business model, ensuring that all transactions on their platform are traceable, transparent, and tamper-proof. The platform also integrates affiliated services, including quality assessment, warehousing, cold storage, and logistics to deliver a complete market linkage solution for Indian farmers.

    Agri10x plans to use this funding to expand across eight more states, onboard 1 million farmers, and provide fintech solutions to buyers and farmers via NBFC partnerships. It also intends to strengthen export operations across Middle East and Southeast Asian countries, providing new markets for Indian farmers.

    The company said it would also look at partnering with leading agrochemical and seed companies, providing market linkage solutions for their farmer customers.

    "Agri10x is providing farmers with direct access to multiple buyers across India, which will ensure competitive pricing and transparency for all parties involved,” said Jinesh Shah, managing partner at Omnivore. “In addition, by helping farmers to receive better pricing for higher quality, incentives are aligned for them to grow better quality food for all.”

    Agri10x is working closely with the government of India’s Common Service Centres (CSC), a massive network of access points across rural India for delivery of e-governance services.

    The company appointed village-level entrepreneurs (VLEs) to work in collaboration with CSCs to help farmers register on the Agri10x platform. The startup believes that in a few years, it will employ tens of thousands of VLEs, actively contributing to rural employment generation.
    The Economic Times

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