Swiss AgTech Startup Agrinorm Secures 7-Digit Funding
Agrinorm, a Zurich-based AgTech startup, has secured significant financing to further develop their AI-powered software for quality risks management in the fresh produce value chains. The funding round was led by QBIT Capital and supported by renowned SICTIC investors including Thomas Dübendorfer, Nicolas Cepeda, Cornelia Gut, David Studer and Ronald Strässler.
Good for fruit, even better for business
Fresh produce traders’ core business is all about taking strategic risks in the areas of quality, price, and volume. The ability to manage those risks effectively is ultimately key to their success. But dealing with fresh produce has always been a challenging task. Fruits and vegetables are highly perishable, and their availability is often dependent on unpredictable weather conditions. Orders are often placed last minute, and buyer requirements can fluctuate based on market trends. Against the backdrop of climate change, inflation, and escalating energy prices, ensuring a steady supply of fresh produce has become more challenging than ever.
To address these challenges, Agrinorm has developed a unique Artificial Intelligence technology that helps fresh produce traders manage uncertainties associated with product quality. It enables traders to manage their supply chains more efficiently, meet customer expectations, reduce costs, improve returns for growers, and minimize the environmental impact of the fruits and vegetables we consume.
Reducing food waste
45% of all fruits and vegetables produced end up in waste, but at the same time, 3 billion people don’t have access to the food they need to enjoy a healthy diet. In economic terms, wasted fruits and vegetables cost the global economy $450 billion annually.
As the saying goes: “you cannot manage what you cannot measure.” Agrinorm’s technology helps fresh produce companies collect data on food waste, which is a crucial first step towards effective management. Once enough data is accumulated, Agrinorm can help find patterns and evaluate root causes of waste to help clients take more informed decisions and improve their supply chains step by step. By reducing food waste, Agrinorm is contributing to enhancing food security, as well as mitigating carbon emissions and combating climate change.
Agirnorm, an AgTech startup headquartered in Zurich, was launched in 2019 by Daria Reisch and Sharon Wulff. Agrinorm is dedicated to reducing complexity of fresh fruit trade by building user centric software to gather, organize and analyze information, for better decisions daily.
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