ARGENTINA – ZoomAgri, a trailblazing agtech company, has successfully raised U.S$6 million in a series A funding round, signaling a momentous stride towards transforming the agricultural industry’s traceability and inspection processes.
This latest infusion of capital, led by Australian agribusiness giant GrainCorp, along with GrainInnovate and existing investor SP Ventures, brings ZoomAgri’s total funding to an impressive U.S$11 million.
ZoomAgri’s state-of-the-art hardware-software system has garnered significant attention and acclaim for digitizing the inspection and traceability process for agricultural commodities.
By simplifying the Testing, Inspection, and Certification (TIC) process for grains and oilseeds, ZoomAgri has rapidly emerged as a crucial player in the ever-increasing demand for food traceability, driven by health and environmental concerns.
The current global landscape demands heightened food traceability, and ZoomAgri’s innovative technology presents a solution that enables agrifood corporates to create digital twins of their supply chains.
By combining traceability and digitalization, companies can proactively identify and swiftly remove contaminated foods from the market, bolstering food safety and consumer trust.
SP Ventures’ founding partner, Francisco Jardim, lauds ZoomAgri’s impressive achievements, emphasizing their agility in solving critical bottlenecks in major commodities like wheat and soybean.
The company’s system has delivered substantial efficiency gains and expanded its global reach, solidifying its reputation as a game-changer in the agricultural sector.
ZoomAgri’s hardware scanner, equipped with artificial intelligence and computer vision, empowers customers like Cargill, ADM, LDC, and ABInBev to recognize grain and seed varieties, along with their quality, through a single scan.
The company boasts an image database with over 250 million individual images, fueling the algorithms that underpin their technology.
Currently serving customers in 25 countries, including Argentina, Australia, Spain, and Brazil, ZoomAgri plans to utilize the series A funding to expand its geographic footprint further. The company has set its sights on entering North American commodities markets, a strategic move that promises to drive its impact and reach even greater heights.
Modernizing the grains industry
GrainCorp CEO Robert Spurway underscores the importance of ZoomAgri’s contribution to modernizing the grains industry.
The partnership with ZoomAgri enables GrainCorp to monitor the quality in barley, while the investment will also support further product development into commodities such as wheat.
With the steadfast support of industry giants and the innovative prowess of its technology, ZoomAgri stands poised to revolutionize agricultural traceability and solidify its position as a leading force in the agtech landscape.
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