According to Odaily, AfriDex, a UK-based blockchain Software as a Service (SaaS) solution, has successfully raised $5 million in a pre-seed funding round. The round was led by Endeavor Ventures, with participation from African Crops Limited, Oldenburg Vineyards, and Hank Oberoi. AfriDex plans to use the funds from this round to expand its business and development plans.
AfriDex is currently advancing a platform based on Solana, providing empowerment and protection to participants in the agricultural supply chain through comprehensive on-chain solutions. The company aims to leverage blockchain technology to achieve traceability, frictionless payments, anti-fraud transactions, verifiable certifications, and simplified tax and subsidy management.