TraceX Technologies, an agritech startup, raises about $ 1 million (approximately ₹7.5 crore) in a pre-series A funding led by Nabard-backed NABVENTURES fund.
In the pre-series funding, among participants were also Paipal Ventures, an early stage family office investment fund, and angel investor Sunil Kumar.
TraceX in a statement said, “The newly raised capital will be used towards scaling up operations across geographies in India and in international markets, enhancing the technology platform, foraying into other value chains and for building high performance teams across functions,” reported by PTI.
TraceX is the next-generation digital agriculture platform led by a blockchain-powered traceability platform that enhances supply chain visibility to build trust and maximize long-term value for businesses.
TraceX’s blockchain-enabled proprietary platform digitizes end to end process of the supply chain. All agents/players of the supply chain can seamlessly add, view, and exchange information. Information captured serves as a single source of truth that cannot be tampered with or changed. Empower every user to derive verifiable insights that drive transparency and traceability at any given time.
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