August 26

AgNext Technologies lands $21 million Led by Alpha Wave Incubation

AgNext Technologies has raised $21 million in its Series A round, led by Alpha Wave Incubation (AWI), in the largest Series A funding received by an Indian agri-tech startup so far.

AWI is backed by DisruptAD and managed by Falcon Edge Capital. This is the fund’s first investment in India’s fledgling agri-tech sector.

Existing investors Omnivore and Kalaari Capital also participated in the round, the deep-tech agri-focused startup said in a statement.

The funding was a mix of primary and secondary components, where early investor IDEA NAARM, India’s first agribusiness incubator, exited with 5x returns on its investment.

Source: Economic Times (link opens in a new window)