Inarix, a French startup, is working to improve how producers assess the worth and quality of their crops to improve the efficiency of the food supply chain. The Paris-based business has just received €3.1 million for growth.
Feeding a population that is expanding worldwide is becoming increasingly difficult. The challenges facing food producers are vast, ranging from extreme weather events and spiraling inflation to geopolitical issues disrupting supply chains and climate change impacting crop output.
It implies that every grain created has value. Processes need to be as efficient as feasible because we cannot afford to be wasteful. The AI-based technology used by Paris-based Inarix is intended to accomplish this.
Ankaa Ventures, Label Investment, Newfund, Alliance for Impact and Resilience, and business angel Francis Nappez, CEO of Hectar, led a seed round of €3.1 million for the agritech company.
The Inarix app, developed by Pierre Chapelle and released in 2018, enables users to snap a picture of their crops and receive real-time crop qualification results. The data generated enables more informed choices about the worth and quality of the crop, enabling the timely implementation of any necessary actions.
CEO and creator of Inarix Pierre Chapelle: “In essence, what we’re doing is turning your smartphone into a portable lab. We’re eager to further develop the technology to make it more widely available to all players in agriculture because feedback from our current customers indicates that being able to get these types of results instantly, on the go, and without the need for large and complicated machinery has been a game changer for them.
The platform uses artificial intelligence (AI) to analyze crops and offers a multi-criteria measurement solution, replacing time-consuming machine action with quick smartphone action.
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The French startup currently uses it to identify two main crops: barley and soft wheat, and it already has some of the leading companies in the French cereal business among its clients.
“We think Inarix has the potential to become the global reference in the billion-dollar cereal quality control market, completely transforming the way the industry presently operates and disrupting the space,” says Alexandre Pierron-Darbonne of Label.
The team hopes to create the technology necessary to diagnose and provide information on other crops, such as corn, soybeans, and coffee, over the next six to twelve months with the help of this new investment. The expansion of the US, whose primary crops are maize and soybeans, will coincide with this.
According to Jonathan Cohen-Sabban of Ankaa Ventures, Inarix is disrupting a crucial industry—the study of crops and agricultural products—with the help of its AI-based technology. All the participants in the value chain, from farmers to final consumers, can reduce waste and ensure the general quality of agricultural goods thanks to the simple scalability of its answer. We are honored to support the business in its goal of enhancing sustainability and food security.
According to Pierre-Jean Cobut of Newfund, “Expanding to the U.S. market is the logical next move in their commercialization efforts as Inarix continues to expand the types of crops they can analyze. We anticipate witnessing their rapid development and assisting them on their adventure.