AgroWave raises $500K from US-based investor
AgroWave has raised close to $500K in funding from US-based investor Sekhar Puli.The company will use the funds to scale its mobile pickup station model in more villages and it is also building a price prediction model at the supply side for the farmers, for which the company will expand its technology team.
AgroWave is working to build sustainable supply chain for fruits and vegetables. AgroWave's process consists of establishing technology-driven mobile pickup stations (MPS) in villages at farm-gates from where they collect the farm produce. The farmers receive notifications on the app about the MPS timings and other information. Customised sorting, grading and packaging helps to maintain the quality.
AgroWave plans to build more than 50 MPS(s) this year and is eyeing to raise funding of $10 mn in the next one year to build 1,000 MPS(s) and utilise it in price prediction engine, smart route mapping, and data driven supply demand mapping systems.