The Hashgraph Group, a Switzerland-based enterprise capital and know-how agency supporting the Hedera blockchain community, has introduced a strategic funding in agritech firm AgNext Applied sciences.
In keeping with particulars in a press launch on April 7, the collaboration will see the Hedera (HBAR) blockchain community help AgNext’s rising synthetic intelligence-driven agricultural options.
The funding sees The Hashgraph Group be a part of AgNext’s current fundraising initiative led by Denmark-based Novo Holdings, however greater than that, is a key integration milestone for the Hedera blockchain ecosystem.
Specifically, AgNext is seeking to leverage Hedera’s distributed ledger know-how to digitize belief within the provide chain ecosystem, together with round insurance coverage and traceability throughout the meals provide chains.
“With this strategic co-investment alongside Novo Holdings, we sit up for embarking on the tech-enablement journey with AgNext to drive the convergence of AI and Blockchain/DLT, whereas collectively bringing to market Hedera-powered AgriTech options that may improve AgNext’s aggressive edge within the web3 period,” stated Stefan Deiss, co-founder & chief government officer of The Hashgraph Group.
AgNext may even faucet into Hedera’s blockchain know-how and sensible contracts for immutability, and effectivity.
THG and AgNext’s targets additionally align round an initiative for Hedera-powered embedded gadgets, with these set to be out there to prospects globally by way of a brand new web3 enterprise. The companions will set up this enterprise in Switzerland.
AgNext raised $21 million in a Collection A funding in 2021, with Alpha Wave Incubation main the capital injection initiative.
The corporate has operations in India, the Center East and the US, with its first worldwide workplace having opened in Abu Dhabi, the United Arab Emirates.
In the meantime, Hedera is seeing notable traction within the tokenization of real-world belongings. This contains by way of integrations corresponding to with Chainlink and Alchemy Pay– the latter for onboarding by way of fiat-crypto on and off ramping.
