Absolute Raises $100 Million
The funds will be used to strengthen its plant bioscience R&D platform BioX
Absolute, a plant bioscience startup, has raised $100 million in its first institutional funding round from Sequoia Capital India, Alpha Wave Global, and Tiger Global Management.
The funds will be used to strengthen its plant bioscience R&D platform BioX, a Farm Operating System (FARM OS), which works with diverse plantations and a global trade platform for the produce.
“At Absolute, we are constantly fostering research to drive exponential innovations inspired by biology to create the next agricultural revolution that is resilient and sustainable. This capital helps us with technology expansion, hiring talent and scaling to newer markets and segments,” said Agam Khare, Founder and CEO, Absolute, in a statement.
“The team at Absolute has spent years researching every crop and truly understanding why plants grow, behave, and live in certain ways. The Sequoia Capital India team is proud to partner with this visionary team on their path-breaking solutions to bring value to the agriculture economy,” said GV Ravishankar, MD of Sequoia India, in the statement.
The startup was founded in 2015 by Agam Khare, Prateek Rawat and Samder Singh. Its offering includes artificial intelligence (AI)-driven FARM OS that can be implemented across vertical and open farms which enables farmers to grow crops without using synthetic enzymes.