27 February 2023, PARIS  — Inarix, an AI-powered agricultural research platform, has announced a seed round of EUR 3.1 million. Investors in the round include Francis Nappez, CEO of Hectar, and the venture capital firms Ankaa ventures, Label Investment, Newfund, Alliance for impact, and Resiliance. With this additional capital, Inarix will be able to expand its technology platform to support a wider range of crops, nearly tripling its crop analysis capabilities, and further develop its workforce, opening the door for growth into new markets like the US.

The world’s agriculture sector, which is responsible for feeding a population of about 8 billion people, has faced an increasing number of difficulties recently, including crop shortages brought on by extreme weather events brought on by climate change and supply chain disruptions due to pandemics and Russia’s war and export blockade in Ukraine. This country produces a lot of heavy grains. Due to these factors, it is now even more crucial for farmers to obtain the most value from each grain, which is the goal that Inarix was designed to accomplish.

Inarix currently has the ability to analyze and assess the quality of two major crops, barley and soft wheat. However, it plans to use this seed funding to help further develop its technology and expand its business to crops such as corn, soybeans, and coffee in the following six to twelve months. Its current customer base includes, but is not limited to, many of the top players in the French cereal industry. This is being carried out in connection with Inarix’s entry into the US market, where corn and soybeans are the two major commodities.

Alexandre Pierron-Darbonne from Label says: “We believe Inarix has the potential to become the worldwide reference in the billion-dollar cereal quality control business, radically altering how the sector functions and disrupting the field.” More than 400 individuals make up Inarix’s user base in France, where the company has already found success.

With its AI-based technology, Inarix is upending a crucial industry like crop and agricultural product research, according to Jonathan Cohen-Sabban of Ankaa Ventures. “All the participants in the value chain, from farmers to final consumers, can decrease waste and ensure the general quality of agricultural goods thanks to the simple scalability of its solution. We are honored to support the firm’s goal of enhancing sustainability and food security.”

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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