VC Fund Investments
Blockchain tech startup TraceX raises $1-M from NAB Ventures Fund, Paipal Ventures, others
TraceX Technologies, a Bengaluru-based, blockchain powered agri supply chain focused platform, has raised USD 1 million in its pre-series A round led by NAB Ventures. The round also saw participation from Paipal Ventures and angel investor Sunil Kumar. The newly raised capital will be used towards scaling up operations across geographies, enhancing the technology platform, foraying into other value chains and for building teams across functions. Founded in 2019, TraceX helps farmers boost productivity, improve market linkages and enhance the quality of the produce. It also helps food companies conform to regulatory compliances, reduce losses due to wastage, better inventory management, and timely product recalls in case of contamination. TraceX currently has a B2B SaaS subscription model where it works with companies across livestock, poultry, seafood, and agri supply chains. The startup claims to work with over 30 food companies.
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