AgriDex, a Solana-based tokenization platform for agriculture markets, has raised $4 million in a funding spherical that attracted a number of enterprise capital companies and angel traders.
The Solana (SOL) real-world property market introduced that enterprise capital platform Portal Ventures led the strategic spherical.
AgriDex additionally obtained funding from Endeavour Ventures, HU Investments, FS Ventures, Hawkwood Capital, and Sycamore Hole Administration. The London-based crypto startup noticed participation from a number of angel traders, together with Palantir’s Tobechi Bolanle Taiwo and Perena’s Anna Yuan, amongst others.
In complete, AgriDex has raised over $9 million from traders, following a $5 million pre-seed spherical earlier within the 12 months.
“This funding will assist us to deliver the world’s most important trade – Agriculture, onto the Solana blockchain,” the AgriDex group posted on X.
AgriDex plans to make use of the brand new funding to onboard main agricultural establishments, together with Imperial Transport Group, Parrogate Group, and Future Farm. The platform additionally goals to develop its collaborations with Circle, Bridge, and Plume Community to deliver tokenization and commerce finance lending to the agriculture trade.
Solana’s blockchain facilitates AgriDex’s onboarding of tokenized agricultural commodities, enabling distributors and consumers to profit from instantaneous settlements, low transaction charges, and immutable information secured by non-fungible tokens.
The platform has already introduced a number of agricultural merchandise on-chain, together with wine, espresso, and olive oil. AgriDex leverages Solana’s blockchain know-how to boost provide chain administration processes, corresponding to compliance, high quality checks, and monitoring.
Native token AGRI rose to an all-time excessive of $0.1201 on Dec. 12, with features of 79% since its low of $0.06265 on Dec. 6.
