Absolute raises $100 million from Sequoia, Alpha Wave, Tiger Global
Plant bioscience startup Absolute has raised $100 million in its first institutional funding round from Sequoia Capital India, Alpha Wave Global and Tiger Global.
Angel investors including Nadir Godrej, Chairman of Godrej Industries, Kamal Agrawal, Promoter of Haldirams, Sanjiv Rangrass, Group R&D Head of ITC and Kunal Shah, Founder of CRED, also participated in the round. The funds will be used to bolster its three core platforms. The agritech startup said it will use the fund to bolster its three core platforms — bioscience research platform, universal Farm OS, and global trade platform.
“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,” said Agam Khare, CEO and Founder of Absolute.
The company currently serves its fresh produce in approximately 10 countries and claims to be expanding rapidly. Founded in 2015 by Agam Khare, the agritech startup controls the whole cycle of agricultural produce, right from seed to harvest.
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In a statement, GV Ravishankar, Managing Director, Sequoia India, said, “The team at Absolute has spent years researching every crop and truly understanding why plants grow, behave, and live in certain ways. The Sequoia Capital India team is proud to partner with this visionary team on their path-breaking solutions to bring value to the agriculture economy.”
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