According to details in a press release from April 7, the collaboration will feature the Hedera (HBAR) blockchain network supporting Agnext’s growing artificial intelligence-driven agricultural solutions.
The investment is being held by the Hashgraf Group in Agnext’s recent fundraising initiative, led by Denmark-based Novo Holdings, but more than that, it is a key integration milestone in the Hedera blockchain ecosystem.
In particular, Agnext aims to leverage Hedera’s distributed ledger technology to digitize trust in the supply chain ecosystem, including insurance and traceability across the food supply chain.
“With this strategic co-investment alongside Novo Holdings, we look forward to taking part in our technological entertainment journey using Agnext to promote AI and blockchain/DLT convergence.
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Agnext also leverages Hedera’s blockchain technology and smart contracts for immutability and efficiency.
The goals of THG and Agnext are centered around the initiatives of embedded devices powered by Hedera, which are set to be available to customers around the world through new Web3 ventures. The partner will establish this venture in Switzerland.
Agnext raised $21 million in 2021 Series A funding, with Alpha Wave Incubation leading the capital injection initiative.
The company operates in India, the Middle East and the US, with its first international office being opened in Abu Dhabi and the United Arab Emirates.
Meanwhile, Hedera has seen significant traction in tokenization of actual assets. This includes through integrations such as ChainLink and Alchemy Pay. The latter is due to onboarding via Fiat Crypto via ramping on and off-ramping.
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