AgriTech Startup Intello Labs has raised $5.9 million (around Rs 45 crore) in Series A funding led by Saama Capital.
The funding round also saw participation from new investors like Singapore-based agritech fund GROW, and US-based SVG Ventures THRIVE. Existing investors Omnivore and Nexus Venture Partners also participated in this round.
Founded by Nishant Mishra, Milan Sharma, Himani Shah and Devendra Chandani in 2016, Intello Labs is a Gurugram-based AgriTech Startup that does quality assessment of food commodities using computer vision and AI.
Talking about the funding, Milan Sharma (Co-founder and CEO-Intello Labs) said this fresh funding will help the startup accelerate growth in international markets, specifically across Asia Pacific and the USA.
Milan Sharma said,
“There has been a significant spike in interest from these markets over the past few months, which was further accelerated by COVID-19, and now we have the firepower to go after these opportunities. This new demand, combined with the stickiness of our existing clients, validates the fact that our products bring much-needed transparency and standardisation to fresh produce value chains.”
Some of Intello Labs’ clients include Reliance Fresh, Ocean Spray, Dole and many leading e- grocery companies in Southeast Asia and China.