Agrinorm, a Zurich-based AgTech startup, has secured a 7-digit round of financing to further develop their AI-powered software for quality risk management in the fresh produce value chains.
The funding round was led by QBIT Capital and supported by renowned SICTIC investors, among others, Thomas Dübendorfer, Nicolas Cepeda, Cornelia Gut, David Studer, and Ronald Strässler.
Good for fruits better for business
The core business of fresh produce traders lies in taking strategic risks of quality, price, and volume. The ability to manage those risks effectively is a key driver of their success. However, 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. Furthermore, it is common for orders to be placed at the 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 develops a unique AI 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.
Agrinorm's efforts in reducing food waste
45% of all fruits and vegetables produced end up in waste. At the same time, astonishing 3 billion people don't have access to 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 make 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.
Agrinorm, an AgTech startup headquartered in Zurich, was launched in 2019 by Daria Reisch and Sharon Wulff. Agrinorm is dedicated to reducing the complexity of fresh fruit trading by building user-centric software to gather, organize and analyze information for better decisions daily.
For more information:
Evgenij Pisetsky
Agrinorm
Email: evgenij.pisetsky@agrinorm.ai
www.agrinorm.com