Solana-based RWA platform AgriDex secures $4m in strategic round

AgriDex, a Solana-based tokenization platform for agricultural markets, has raised $4 million in a funding round that has attracted interest from several venture capital firms and angel investors.

Solana (SOL) real-world asset market announced that venture capital platform Portal Ventures led the strategic round.

AgriDex also received investments from Endeavor Ventures, HU Investments, FS Ventures, Hawkwood Capital and Sycamore Gap Management. The London-based crypto startup has seen participation from several angel investors, including Palantir’s Tobechi Bolanle Taiwo and Perena’s Anna Yuan.

AgriDex has raised over $9 million in total from investors following a $5 million pre-seed round earlier in the year.

“This funding will help us bring the world’s most important industry, Agriculture, to the Solana blockchain,” the AgriDex team shared on X.

AgriDex plans to use the new funding to acquire major agricultural organizations including Imperial Shipping Group, Parrogate Group and Future Farm. The platform also aims to expand collaborations with Circle, Bridge and Plume Network to provide tokenization and trade finance lending to the agriculture industry.

Solana’s blockchain facilitates AgriDex’s participation in tokenized agricultural commodities, allowing sellers and buyers to benefit from instant payments, low transaction fees, and immutable records secured by non-fungible tokens.

The platform has already added a number of agricultural products to the chain, including wine, coffee and olive oil. AgriDex leverages Solana’s blockchain technology to improve supply chain management processes such as compliance, quality checks and tracking.

Native token AGRI rose 79% since its December 6 low of $0.06265 to an all-time high of $0.1201 on December 12.