- The Hashgraph Group Announces Investment in UAE’s AgNext Technologies to Support the AgriTech Sector
- Investment Comes After Successful $21 Million Series A Funding Round for AgNext Technologies
- Deal Integrates Hedera’s Distributed Ledger Technology (DLT)
The Hashgraph Group has announced a strategic investment in AgNext Technologies, a UAE company specializing in agricultural technology solutions.
The investment comes following the successful completion of a $21 million Series A funding round for AgNext in 2021, led by Alpha Wave Incubation and backed by DisruptAD, the investment arm of Abu Dhabi’s sovereign wealth fund, ADQ.
AgNext is known for developing cutting-edge food quality assessment technologies powered by artificial intelligence, along with blockchain-based tracking solutions.
The company’s operations span across India, Europe, the Middle East, and the United States.
As part of the new partnership, AgNext will integrate Hedera’s Distributed Ledger Technology (DLT) into its systems to enhance transparency and traceability in global food supply chains.
This integration is expected to help reduce costs and significantly cut down on food waste, which is estimated to be around $230 billion annually, according to the Boston Consulting Group.
Tarunjeet Bhamra, CEO of AgNext, stated that the partnership will strengthen the company’s quality assurance systems and support the creation of robust transaction frameworks for the agriculture and food industries.
On the other hand, Stefan Deiss, CEO of Hashgraph Group , emphasized that the collaboration will focus on developing innovative solutions that merge AI and blockchain technologies to advance the AgriTech sector.
As part of their joint efforts, the two companies will also launch a new joint venture in Switzerland to deliver smart, integrated devices powered by Hedera technology.
