Agritech startup InfyU Labs has raised Rs 1.8 crore in a seed round from IAN. The round was led by angel investors – K.R.S. Jamwal, Sanjay Bansal and Vishnuraj Kunjur. Previously, the company had raised a small pre-seed round from mentors Pranav Jha, RA Venkitachalam, Bhavesh Jha and Shyaam Ramamurthy.
The Gujarat-based startup will utilize the fresh capital infusion to deploy more devices to bring quality effectiveness and boost its R&D. A part of the funding will be used to expand its domain to pre-harvest fruits quality testing and increase its offering by including other perishable commodities.
Realizing the need to provide quality assurance of fruits and vegetables to benefit all stakeholders in the food safety and supply chain, IIT Madras alumnus Amit Srivastava and Ankit Chauhan launched InfyU Labs in 2019. The company specializes in creating portable devices that determine the internal quality of fresh fruits without cutting them open.
InfyU uses its proprietary solution, Infyzer – a handheld device – that determines the internal quality parameters, such as TSS (BRIX), acidity, ripeness, shelf life, etc. within seconds, reported YourStory. Further, the company provides an end-to-end IoT-based platform that allows the quality manager to quickly access the quality of incoming produce. It helps them to reduce perishable wastage, reduce logistic costs and optimize the storage time.
Amit Srivastava, Co-founder, InfyU Labs said, “Our focus is to bring transparency and safety to the current food value chain by providing data-driven technological solutions at various nodes. We are extensively working towards improving the prediction model’s accuracy by testing the effectiveness of the device under various breeds of fruits, regions of procurement, time of harvest, and many more.”
InfyU Labs aims to foray into the fruit export segment as well as deploy its devices at the pre-harvest level to identify and automate correct harvest time. The startup aims to capture the estimated $50 billion global market opportunity across Canada, US, and East Asia.