AgriDex, a South African Solana-based marketplace for real-world assets (RWA), has secured $9 million in a funding round led by:
- Sycamore Gap
with participation from:
- Endeavour Ventures
- Hawkwood Capital
- FS Ventures
- HU Investments
and angel investors affiliated with:
- Citadel
- Goldman Sachs, and
- Palantir
AgriDex facilitates on-chain agricultural trades, handling transactions for commodities like wine, coffee, olive oil, and livestock, including royal animals from Gatcombe Park. The platform provides instant settlements, charges transaction fees below 0.5%, and documents transactions using non-fungible tokens (NFTs).
According to AgriDex, it is aiming to capture a $4.5 billion market in agricultural turnover. Its partners and clients include:
- Circle
- Plume Network
- The Imperial Shipping Group
- Parrogate Group, and
- Future Farm
AgriDex also collaborates with key ecosystem players such as:
- Imperial Shipping Group
- Parrogate
- Cross Country
- Future Farm
- Dadtco
- Oldenburg Vineyards
- Demeter Ghana LTD
- Esco, and
- Solar Energy Projects
According to AgriDex, the project is expected to generate $133 million in profit by the end of 2028 as it disrupts traditional agricultural trade systems, creating a new era of efficiency and fairness in the global food supply chain.
In July 2024, as reported by BitKE, AgriDex successfully completed its first on-chain private transaction, facilitating the shipment of over 200 bottles of extra virgin olive oil and multiple cases of wine from a farm and vineyards in South Africa to London.
INTRODUCING | How Solana’s RWA Platform, AgriDex, is Bringing Africa’s Agricultural Market On-Chain
AgriDex has made history after settling its first agricultural trade on the Solana blockchain.
AgriDex is also reportedly facilitating the sale of farmland in Zambia 🇿🇲 and the… pic.twitter.com/KbMS1fQjd7
— BitKE (@BitcoinKE) September 25, 2024
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