Agritech startup TraceX raises USD 1 million from investors

Agritech firm TraceX Technologies has raised USD 1 million (about Rs 7.5 crore) from investors including Nabard-backed NABVENTURES fund.

The platform is in the business of enhancing supply chain traceability and transparency.

In its pre-series A funding, Paipal Ventures, an early stage family office investment fund, and angel investor Sunil Kumar also participated.

''The newly raised capital will be used towards scaling up operations across geographies in India and in international markets, enhancing the technology platform, foraying into other value chains and for building high performance teams across functions,'' the company statement said.

The company was founded in 2019 by Srivatsa Sreenivasarao and Anil Nadig.