AgriDex, a Solana-based platform focused on tokenizing agricultural commodities, has raised $5 million in a pre-seed funding round.
Endeavour Ventures, a tech-focused venture capital firm, led the round, with African Crops Limited, Oldenburg Vineyards and Hank Oberoi, a former Goldman Sachs and Citadel executive, participating, London-based AgriDex said Thursday.
AgriDex aims to help investors, farmers, and governments save costs and improve their profitability. "AgriDex has the potential to save stakeholders billions of dollars a year, and we're only just scratching the surface," Duckworth said, noting Solana's fast settlement, high throughput, and low fees.
"AgriDex tokens will be used to incentivize and reward users based on trade volumes, platform engagement and community engagement," he said.
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