SaaS startup Assert AI raises $ 2 million in funding from Grain commerce platform Arya AG

• ByStartupStory     |    November 5, 2022

Arya.ag, a grain commerce platform, has made a strategic investment in Assert AI, a computer vision-focused SaaS firm. The development is part of Assert AI’s most recent $2 million fund-raise, which includes personal involvement from Prashant Purker, Ex-MD & CEO of ICICI Venture.

Assert AI intends to use the funding to extend its position in the US market and produce distinctive agricultural goods. With the growing need for insight-driven digital pictures and videos, computer vision is quickly becoming a top corporate priority. This strategic investment intends to expand Arya.ag’s blockchain solutions, as well as it’s AI and deep tech vision, provide unmatched visibility and certainty for its storage, finance, and commerce products.

Prasanna Rao, Co-Founder & Managing Director, of Arya.ag said, “At Arya.ag, we endeavor to digitize an otherwise conventional Agri value chain. Tech-led computer vision ensures complete assurance for farmers, lenders, and buyers as they transact on our platform. Through our strategic investment in Assert AI, we aim to consolidate our AI & Blockchain offerings. This partnership will work towards conceptualizing and innovating computer vision solutions specifically for the agricultural ecosystem.” He also stated that there are 500 Farmers’ Producer Organizations (FPOs) that keep their commodities in warehouses and over 2000 customers. Banks who fund these items will also have real-time data on their movement.”

Arya.ag’s investment in Assert AI comes on the heels of the startup’s recent acquisition of Prakshep, a data science business, which unified the company’s deep tech expertise to provide traceability, transparency, and quality assurance for frictionless commodities transactions. Arya.ag is also nearing the completion of a first-of-its-kind public agro blockchain ledger in the nation. The company is also trying to raise more money over the next three to ten months, according to Rao.

On the development, Job Philip, Co-Founder, Assert AI commented, “Digitization and related proliferation of video, as well as other forms of the visual medium, is on an ever-increasing exponential curve. The need of the hour is to transform observations from these mediums into actionable business insights and ensure that this is executed in real-time. The latest round of funding furthers our resolve to continue pioneering innovation in the visual analytics landscape and expand its reach to large untapped segments, including agriculture.”

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