FUNDING | South African Agricultural Real World Assets Solana Marketplace, AgriDex, Raises Over $9 Million

AgriDex, a South African Solana-based marketplace for real-world assets (RWA), has secured $9 million in a funding round led by:

• Sycamore Gap

with participation from:

• Endeavour Ventures
• Hawkwood Capital
• FS Ventures
• HU Investments

and angel investors affiliated with:

* Citadel

• Goldman Sachs, and
• Palantir

AgriDex facilitates on-chain agricultural trades, handling transactions for commodities like wine, coffee, olive oil, and livestock, including royal animals from Gatcombe Park. The platform provides instant settlements, charges transaction fees below 0.5%, and documents transactions using non-fungible tokens (NFTs).

According to AgriDex, it is aiming to capture a $4.5 billion market in agricultural turnover. Its partners and clients include:

• Circle
• Plume Network
• The Imperial Shipping Group
• Parrogate Group, and
• Future Farm

AgriDex also collaborates with key ecosystem players such as:

• Imperial Shipping Group
• Parrogate
• Cross Country
• Future Farm
• Dadtco
• Oldenburg Vineyards
• Demeter Ghana LTD
• Esco, and
• Solar Energy Projects

According to AgriDex, the project is expected to generate $133 million in profit by the end of 2028 as it disrupts traditional agricultural trade systems, creating a new era of efficiency and fairness in the global food supply chain.

In July 2024, as reported by BitKE, AgriDex successfully completed its first on-chain private transaction, facilitating the shipment of over 200 bottles of extra virgin olive oil and multiple cases of wine from a farm and vineyards in South Africa to London.