VC Fund Investments
Agri-tech startup Intello Labs raises $3-M led by Saama Capital
Gurugram-based agricultural technology startup Intello Labs has raised INR 23.24 crore (USD 2.82 million) in a Series B round led by existing investor Saama Capital. Other existing Investors Avaana Capital, Omnivore Partners and Nexus Venture Partners as well as AgFunder also participated in the round. Saama Capital has invested INR 7.74 crore in the new round, while Avaana Capital, Omnivore (via Omnivore Partners India Fund 2), Nexus Ventures, and AgFunder invested INR 3.88 crore each. The fresh capital will be used to meet working capital and long-term funding requirements. Founded in 2016, Intello offers complete automation in the supply chain management of fresh fruits, vegetables, spices, and nuts and deploys image recognition-based tools for the quality assessment of fruits and vegetables. It also makes automated weighing and packing machines for fresh produce.
From the Venture Intelligence PE-VC Deal Database: Between Mar-2019 and Sep-2021, Intello Labs had raised over USD 12 M from Saama Capital, Avaana Capital, Omnivore and Nexus Ventures. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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