Plant Bioscience Startup Absolute Raises $100M In Funding
Absolute, a Delhi-headquartered plant bioscience startup, has raised $100 million in its first institutional funding round from Sequoia Capital India, Alpha Wave Global, and Tiger Global Management.
As per the startup, the raised capital will be used to strengthen its plant bioscience R&D platform BioX, a Farm Operating System (FARM OS), which works with diverse plantations, and a global trade platform for the produce.
Absolute | Plant Bioscience Startup
Founded by Agam Khare in 2015, where Prateek Rawat joined as a co-founder later, the plant bioscience and precision agriculture startup aims to provide a seamless experience to farmers by bridging science, technology, and innovation gaps that exist in traditional farming practices.
Speaking about the development, Agam Khare, Founder and CEO at Absolute, said,
“At Absolute, we are constantly fostering research to drive exponential innovations inspired by biology to create the next agricultural revolution that is resilient and sustainable. This capital helps us with technology expansion, hiring talent, and scaling to newer markets and segments.”
The plant bioscience startup claims to operate nearly 100,000 acres of precision farming, with operations across 10 countries.
Its Farm OS generates actionable insights based on inputs from sensors, satellite feeds and others to the farmers for optimal growing conditions throughout the crop cycle. As per the startup, these practices help growers increase their yield up to 20 percent, resulting in a nearly 40 percent increase in profitability.
Earlier, Absolute had raised equity funding from angel investors, including Kunal Shah (Founder of CRED), Nadir Godrej (Chairman and MD, Godrej Industries), Kamal Agrawal (ED of Haldirams), and Sanjiv Rangrass (Group R&D Head of ITC).
Commenting on the development, Navroz D. Udwadia, Co-Founder of Alpha Wave Global, said,
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“Absolute’s AI-driven scientific approach to agriculture creates a meaningful uplift for all participants across the agri value chain. Farmer profitability rises meaningfully, driven by an increase in yield and quality of produce. This allows Absolute to trade globally at healthy margins.”
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