Founder, BlackHill Fund I Former CEO, NABVENTURES Fund | former multi strategy hedge fund manager
Ladies and gents! Happy to announce that NABVENTURES Fund has invested in TraceX Technologies, a blockchain powered agritech platform that enhances supply chain traceability and transparency. Congratulations to Anil Nadig, Srivatsa Sreenivasarao and team! Increasing consumer awareness regarding safe food products, growing demand for healthy and ethically sourced products, and focus on transparency are some of the reasons behind the rise of supply chain traceability in food, agriculture and other value chains. Apart from traceability, TraceX helps the farmers to boost productivity, improve market linkages and enhance the quality of their produce. For food brands, it helps them to conform to regulatory compliances, reduce losses due to wastage, better inventory management, and timely product recalls in case of contamination. No wonder their clients include MTR Foods Private Limited, Blue Tokai Coffee Roasters, SLAY Coffee and many others. A few verses to celebrate the occasion! Once or twice upon a time, Among the Indian food brands prime, There prevailed broken supply chains with data in silos, Opaque procurement practices in the food brands cosmos. As the millennials and consumers became more aware of foods of high grade, Of ethical sourcing, sustainability and Fairtrade, They looked at low quality products with a fair amount of disdain, And started demanding trust and traceability in supply chain. Now, spotting the need for traceability, the d2c as well as established consumer brands Are trying to secure the tech best placed to meet such demands Blockchain based SaaS makes life less complex An embodiment of such a solution is TraceX. The potential for launching Web3 services, Offers tantalising prospects for rapid growth in adjacent spaces. A few brands have opted for captive traceability solutions in some sense, But these may lack credibility on account of non-independence, A neutral, independent platform much like rating agencies, Is needed and that is why we have backed TraceX Technologies (NABVENTURES Fund, the best performing fund in Indian agritech, has so far invested in 9 startups: Jai Kisan, Unnati, TenderCuts - Farm Fresh Meats and Seafood, Vilcart, Eggoz Nutrition, Krishitantra, Satyukt Analytics, TraceX Technologies and Fraazo) https://lnkd.in/gzi8GmVg #blockchain #sustainability #agritech #d2c #brands #foodtech #founders #startups #traceability #foodsafety #Web3 #NFT #supplychain #agriculture #procurement NABARD - National Bank for Agriculture and Rural Development Ministry of Agriculture & Farmers Welfare, Government of India #vc #pe #food #fundingalert