Inarix, a Paris, France-based AI-powered crop analysis platform, announced that it raised €3.1 million in seed funding.
The round was made up of venture funds Ankaa Ventures, Label Investment, Newfund, Alliance for Impact, and Resiliance, as well as business angel Francis Nappez, CEO of Hectar.
This new funding will enable Inarix to expand its technology platform to include a broader range of crops, nearly doubling its crop analysis capabilities, and expanding into new markets, including the United States.
"Essentially, what we are doing is transforming your smartphone into a pocket laboratory," said Inarix founder and CEO Pierre Chapelle. "The feedback that we've gotten from our current customers shows that being able to get these types of results instantaneously, on-the-go, and without having to use large and complex machinery has been a gamechanger for them, so we're excited to further build out the technology to make it more widely available to all agriculture players."
Launched in 2018, Inarix allows users to take a picture of their crops via their smartphone and get real-time crop qualification results.
By using artificial intelligence to conduct this crop analysis, Inarix empowers its user with a multicriteria measurement solution, replacing time-consuming actions from several machines with just one fast smartphone.
Inarix currently has capabilities that can analyze and determine the quality of two main crops—barley and soft wheat—but is using this seed funding to help further develop its technology and expand its business to crops such as corn, soybeans, and coffee in the next 6 to 12 months. This is in conjunction with Inarix's expansion into the United States market, where corn and soybeans are major crops.
Company: Inarix
Raised: €3.1M
Round: Unknown
Funding Month: February 2023
Lead Investors: Ankaa ventures, Label Investment, Newfund, Alliance for impact and Resiliance, and Francis Nappez
Additional Investors:
Company Website: https://www.inarix.com/
Software Category: Crop Analysis
About the Company: Founded in 2018 by Pierre Chapelle in Paris, Inarix is a French company that builds an advanced AI-based platform for all actors in the agritech industry. It has developed a technology based on the latest advances in artificial intelligence and image analysis. The company provides a crop analysis platform to dematerialize measurement and qualify cereal production flows. Their Pocket Lab app allows unprecedented multi-criteria harvest analysis anywhere and anytime. The company’s technology is based on the latest developments in artificial intelligence and image analysis.
Source: https://www.inarix.com/investors.html