AfriDex Secures $5 Million to Enhance Blockchain Solutions for Agriculture

IconCNT16 May, 2024

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AfriDex Secures $5 Million to Enhance Blockchain Solutions for Agriculture

AfriDex, a blockchain software-as-a-service (SaaS) provider, has closed a $5 million seed funding round led by Endeavor Ventures. The funds will be used to scale operations and develop its Solana-based platform, which offers on-chain solutions to protect participants in agricultural supply chains. The platform leverages blockchain technology to provide traceability, transparency, and efficiency to agricultural supply chains. It aims to reduce fraud, improve quality control, and increase farmer profitability. "This funding will enable us to accelerate the development of our platform and expand our reach to new markets," said AfriDex CEO Mumo Kiiru. "We believe that blockchain technology has the potential to transform the agricultural industry, and we are committed to making that happen." Previously on May 16, 2024, AfriDex closed a $5 million seed funding round led by Endeavor Ventures.

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