Fruits and vegetables are highly perishable, and availability is highly dependent on weather conditions, thus making them difficult to handle. The artificial intelligence solution from Agtech startup Agrinorm helps fresh produce traders to manage these challenges and improve supply chains. The fresh seed funds will enable the startup to expand its solution to new markets.
Started in 2019, Agrinorm addresses some of the most pressing challenges of fast-moving consumer goods (FMCG), particularly fresh fruits and vegetables. These products deteriorate quickly, and product availability highly depends on weather conditions. Moreover, buyers often place their orders at the last minute and their buying decision changes depending on the current market situation. Managing this uncertainty is challenging and results in food waste. Fresh produce traders thus need to take strategic risks for the continuity of their business while ensuring quality, price, and volume.
The Zurich-based startup develops a unique artificial intelligence (AI) technology to help fresh produce traders (customers) manage uncertainties related to product quality and availability. As the first step Agrinorm helps them to set up their quality management system and gather information about customers' preferences and requirements and suppliers' strengths and capabilities in one place. Once data suitable for AI is available, algorithms can help monitor fulfillment risks, track reliability of suppliers, and forecast quality. Ultimately, the solution should help them manage supply chains, grow their margins, provide better returns to the growers, and reduce the environmental footprint of fruits and vegetables.
"There is tremendous potential for applications of AI in fresh produce chains if the right data is available. Agirnorm helps fresh produce companies to capture the right data more efficiently than ever and start using it in decision making", said Daria Reisch, co-founder and CEO of Agrinorm. “By helping clients prevent food waste, Agrinorm contributes to food security, as well as reducing carbon emissions, which corresponds to SDG 2 ‘Zero hunger’ and SDG 12 ‘responsible consumption’”.
Ready for expansion
Since launch in October 2021, Agrinorm has had a growing customer base in Europe and Latin America, with further expansion planned. The newly closed seven-digit seed investment round will facilitate this ambition and other planned milestones. The financing round attracted venture capital firm QBIT Capital as well as renowned angel investors experienced in bringing scalable B2B software product to market such as Thomas Dübendorfer (President of SICTIC), Nicolas Cepeda (founder of Contovista), David Studer (founder of Xovis), and Ronald Strässler (founder of avaloq).
(RAN)
Photo: Daria Reisch (l.) Sharon Wulff
Please login or sign up to comment.
Commenting guidelines