Intello Labs — an agritech startup — raises $5.9M in Series A round to further enhance its AI-based offerings along with expanding its footprints. The funding was led by Saama Capital, GROW, and SVG Ventures THRIVE. Founded in 2016, the company offers computer vision-based solutions that can determine the quality of fruits and vegetables. Intello’s scalable and non-destructive AI-based digital suite of solutions is well placed to become an industry-standard tool especially for the large buyers of and traders in fresh produce,” said Kiranbir Nag, Partner at Saama Capital.
The Gurgaon-based company simplifies the evaluation of food for farmers, food packers, and retailers. This helps the buyers to set the price of the food according to its quality. Besides, its solutions can be used to segregate the spoiled food from the good ones, thereby avoiding the risk of ruining other food. The onboarding process of the Intello Labs is simple as it only requires you to download the mobile application and start analysing the quality of the food. While the firm provides AI platform to visualise the reports, you can also integrate it with other IT systems for a wide range of applications.
Earlier started only for farmers, Intello has moved on to offer growers, packers, aggregators and exporters. Today, its clients range from Reliance Fresh to Ocean Spray and Dole. Intello Labs has helped retailers to inspect the deteriorating quality of suppliers quickly to make informed decisions. The solution detects Brix, pH, TSS, moisture, pesticide residue, and more, to provide an in-depth analysis of food, which is time-consuming as well as resource-intensive if carried out manually.
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“This funding will help us accelerate growth in international markets, specifically the US and across the Asia Pacific. There has been a significant spike in interest from these markets over the past few months, which was further accelerated by the COVID-19, and now we have the firepower to go after these opportunities,” said Milan Sharma, co-founder and CEO of Intello Labs.