Absolute raises $100M from Sequoia, Alpha Wave, Tiger Global

Absolute, a plant bioscience startup had raised $100 million in its first institutional funding round. The round was led by Sequoia Capital India, Alpha Wave Global, and Tiger Global Management.

Absolute was founded by Agam Khare in the year 2015. Delhi-headquartered plant bioscience and precision agriculture company are planning to utilize the fresh capital to strengthen its plant bioscience R&D platform BioX which operates with diverse plantations, and a global trade platform.

Initially, the startup had raised equity funding which was led by angel investors like Nadir, Kamal Agrawal Sanjiv, and Kunal Shah.

Absolute guarantees to work in nearly 100,000 acres of precision farming, in over 10 countries.

Absolute’s Farm OS generates workable insights based on inputs, satellite feeds, and others to the farmers for optimal growing conditions throughout the crop cycle. The startup assured these practices help growers increase their revenues up to 20 %, resulting in a nearly 40 % growth in profitability.

EXECUTIVE OPINION:

GV Ravishankar, Managing Director, Sequoia India, said, “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.”

“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, of Absolute.

“We aim to provide a seamless experience to farmers by bridging science, technology, and innovation gaps that exist in traditional farming practices," - Prateek Rawat, COO, and Co-Founder, Absolute.

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Absolute raises $100M from Sequoia, Alpha Wave, Tiger Global

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