InfyU Labs, a Gujarat-based agritech startup, announced that it has raised Rs 1.8 crore in a seed round from IAN. The round was led by angel investors K.R.S. Jamwal, Sanjay Bansal and Vishnuraj Kunjur.
The company had earlier raised a small pre-seed round from mentors Pranav Jha, RA Venkitachalam, Bhavesh Jha, and Shyaam Ramamurthy.
The startup plans to use the freshly raised funds to deploy more devices to deliver quality effectiveness and support its R&D. A part of the funding will be also be utilized to extend its domain to pre-harvest fruits quality testing and increase its offering by including other perishable commodities.
Speaking about the funding, Amit Srivastava, Co-founder, InfyU Labs said, “Our focus is to bring transparency and safety to the current food value chain by providing data-driven technological solutions at various nodes. We are extensively working towards improving the prediction model’s accuracy by testing the effectiveness of the device under various breeds of fruits, regions of procurement, time of harvest, and many more.”
“In fact, we are also planning to increase our technological domain to multispectral imaging and ultrasonic sensing which will further help in catering to the larger needs of the segment. This fundraise will enable us to achieve our future targets. The latest investment asserts investors’ confidence in our value proposition and growth potential,” he added.
InfyU Labs strives to enter the fruit export segment and deploy its devices at the pre-harvest level to recognize and automate the right harvest time. The startup intends to capture the predicted $50 billion global market opportunity across Canada, the US, and East Asia.
Original News Link
https://www.startuplanes.com/infyu-labs-raises-rs-1-8-cr-in-seed-round-from-ian/
