AgNext Triumphs With THG Investment
Deal News | Apr 07, 2025 | PR Newswire Cision The Hashgraph Group
The Hashgraph Group (THG), a Swiss-based enterprise committed to the Hedera ecosystem, has declared a strategic investment in AgNext Technologies. Headquartered in India with operations globally, AgNext leverages AI for quality assessments and blockchain-enabled traceability to enhance food safety and efficiency. By partnering with THG, AgNext integrates Hedera's distributed ledger technology into its platforms to offer 100% traceability and transparency. The initiative is expected to simplify complex supply chains by removing intermediaries, hence reducing costs. While AgNext's offering is aimed at battling the annual $230 billion cost of global food wastage, THG, alongside Novo Holdings, an entity managing assets worth over $150 billion, will aid in their mission to elevate food transparency worldwide. This collaborative effort will further explore joint go-to-market initiatives with a Web3-focused joint venture stationed in Switzerland.
Sectors
- Agritech
- Blockchain
- Venture Capital
Geography
- Switzerland – The Hashgraph Group is based in Switzerland and will be establishing a Web3-centric joint venture there with AgNext.
- India – AgNext Technologies is an India-based company with global operations, leveraging technology to innovate food quality assurance.
- Denmark – Novo Holdings, a participant in AgNext's financing round, is headquartered in Denmark and manages significant assets.
Industry
- Agritech – AgNext Technologies operates in the agritech industry, leveraging AI and blockchain to improve food quality assurance and supply chain transparency.
- Blockchain – Hedera's distributed ledger technology plays a significant role in AgNext's platforms to enhance traceability and transparency in agricultural supply chains.
- Venture Capital – The Hashgraph Group's investment in AgNext illustrates venture capital activity focused on strategic development and technology enhancement.
Financials
- US$150 billion – Assets under management by Novo Holdings, a participant in AgNext's financing round.
- $230 billion – Annual cost of global food wastage as estimated by Boston Consulting Group.
- $21 million – Amount raised by AgNext during their Series A funding led by Alpha Wave Incubation in 2021.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Hashgraph Group | Investor | Company | Swiss-based venture capital and technology company specializing in the Hedera ecosystem. |
| AgNext Technologies | Target | Company | An agritech company innovating in food quality assurance and supply chain transparency. |
| Novo Holdings | Investor | Company | Danish investment company that participated in AgNext's financing round. |
| Taranjeet Bhamra | CEO of AgNext | Person | Founder and CEO of AgNext Technologies. |
| Stefan Deiss | Co-Founder & CEO of THG | Person | Co-Founder and CEO of The Hashgraph Group. |
| Hedera | Technology Provider | Company | Public distributed ledger technology network utilized by AgNext for enhanced traceability. |