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India: AI-focused agritech startup raises $2 million

Intello Labs, an AI-focused agritech startup, has closed a seed round of $2 million from Nexus Venture Partners and Omnivore. Intello Labs is leveraging AI tools, including computer vision and deep learning, to build a platform for grading and quality monitoring of agricultural commodities.

Intello Labs was founded in 2016 by Milan Sharma, Nishant Mishra, Himani Shah and Devendra Chandani. The first three co-founders studied together at IIT Bombay, while Devendra is an MDI Gurgaon postgraduate. Intello Labs’ founding team brings together diverse backgrounds and skill sets, including data science (Milan), computer vision (Nishant), corporate strategy (Himani), and analytics (Devendra). Intello Labs previously raised money from a variety of angel investors and participated in two accelerators: Indigram Labs and JioGenNext.

According to Milan Sharma, CEO of Intello Labs, “This funding will help us strengthen our product and rapidly scale globally. We are excited to partner with the best possible combination of investors for us. Omnivore brings deep domain expertise and an incredible agribusiness network while Nexus brings unparalleled experience scaling Indian technology startups.”

Intello Labs is already working with several global food companies, and has developed ready-to-use solutions for fruits, vegetables, and spices. With a simple photo taken from a low cost smartphone, Intello’s AI can generate instantaneous quality metrics. Initially, the company plans to focus on large enterprise clients, but eventually Intello Labs will be offered as Software-as-a-Service to small businesses, traders, and farmers. 

Read more at Inventiva

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