The company will be using the fresh funding to fuel its growth in international markets, specifically in the US and across Asia Pacific.
Agritech start up Intello Labs announced that it has raised US$5.9 million in a series A round led by early-stage investor Saama Capital, alongside Singapore’s Grow and SVG Ventures Thrive from the US.
Existing backers Omnivore and Nexus Venture Partners also participated in this round, according to a statement.
Launched in 2016, Intello Labs uses AI and machine learning to automatically grade and analyze the quality of fresh produce. It seeks to increase transparency in the supply chain as well as reduce value risk and food waste.
Its mobile app Intello Track uses smartphone cameras to capture images of produce, and then objectively grades them based on color, size, and visual defects. It also offers systems such as Intello Sort, a machine that segregates fresh produce based on quality, and Intello Pack, which monitors their quality before they’re dispatched to customers.
Milan Sharma, co-founder and CEO of Intello Labs, said the company will be using the fresh funding to fuel its growth in international markets, specifically in the US and across Asia Pacific.
“There has been a significant spike in interest from these markets over the past few months, which was further accelerated by Covid-19, and now we have the firepower to go after these opportunities,” Sharma added.
Based out of Gurgaon, India, Intello Labs currently has operations in Singapore, China, and the US. Some of its larger clients include Reliance Fresh, Dole, Ocean Spray, and a number of e-grocery companies in China and Southeast Asia.
In April last year, the start-up raised US$2 million in seed funding from Nexus Venture Partners and Omnivore, which it then used to expand further in Southeast Asia, particularly in Indonesia and Malaysia.
