Agnext Tech plans to raise Rs 500-600 crore in next two quarters

New Delhi, May 2 (PTI) Agri-startup company Agnext Technologies is planning to raise Rs 500-600 crore in the next two quarters of the current fiscal for integration of existing post-harvest management technology offerings and overseas business expansion plans. The company’s founder and chief executive officer (CEO) Taranjit Singh Bhamra has given this information.

Bhamra told PTI that the company has so far raised Rs 180 crore and is seeing immense opportunities for its technology products in India and abroad.

The company provides Internet of Things (IoT) enabled post-harvest technology solutions for estimating, grading, warehousing, e-auctions, blockchain, and more.

Bhamra said, “We will raise Rs 500-600 crore in the next two quarters of the current financial year. The funds will be used for integration of the company’s existing solutions, which are essential for the smooth running of the post-harvest business.

He said that this money will also be used for expanding global business by opening offices in multiple locations with a focus on partnership and expansion.

Currently, the company has two global offices in Vietnam and the United Arab Emirates.