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Ag Tech Sunday - Ag Tech company Agrichain secures $6 million in funding

  • By: "Prime" Ag News
  • Feb 16, 2020

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Leading supply chain software company AgriChain is making its presence felt in the Australian agriculture sector after securing $6M in its latest round of funding.

The round was snapped up in its entirety by Sydney based private investment company Cornerstone Growth Capital. Managing Partner Christian Oey describes AgriChain as one of the most exciting prospects he has seen in the agricultural space for some time.

“We’re always on the lookout for disrupters in the agri sector,” Mr Oey said. “Sadly, agriculture has always been an underdog and we forget the pivotal role it plays in our lives. If we can find ways to make this sector work more efficiently with better transparency, the better off we will be. And for us, AgriChain ticks all these boxes. Its unique platform is one of the first we’ve seen in the world where it increases efficiency and transparency throughout the agricultural supply chain, connecting all stakeholders on one platform, and solving the problem of what is to date a fragmented supply chain.”

Founded in 2014, AgriChain is the largest ag supply chain software company in Australia, offering modules for farmers looking to store their grain; logistics companies wanting to plan and track their fleet; grain brokers and traders; storage operators and; end users such as flour mills and feedlots.

According to AgriChain CEO Caile Ditterich, the recent round of funding will ensure ongoing support for the company’s expanding customer base.

“AgriChain offers its customers a simple and effective solution to managing a more efficient supply chain,” Mr Ditterich said. “The key to our growing success lies in our ability to ensure that data passes smoothly through each user and link of the supply chain.”

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AgriChain automates the delivery process from the paddock to end user, ensuring data is collected and time-stamped at each point along the supply chain, all parties are updated in real-time and can feel confident that this seamless process ultimately improves productivity, increases visibility, manages stock, automates freight orders and eliminates manual paperwork.

“The end result for our customers is improving their bottom line by conducting business on one simple platform,” Mr Ditterich said.

AgriChain customer, Allied Pinnacle, operates the largest national network of flour mills supplying Australia’s leading food companies. According to its Head of Grain Logistics, Grant Hando, the logistics management and supply chain traceability provided by AgriChain is essential for the food industry.

“The AgriChain platform has improved the efficiency and delivery process of grain into our mills by providing real-time information to our production facilities and our grain logistics team,” Mr Hando said.

“The grain ordering and time slotting features of the software is a definite highlight. AgriChain is easy to use and allows me to optimise the execution of our supplier deliveries by allocating each delivery to a timeslot. Human error from manually entering delivery dockets is removed due to the automated record of delivery information to the supplier, carrier and our business.”

In response to the expanding customer base, AgriChain is set to substantially grow its team over the next six months and attract some key influential industry leaders to its management team.

“We have our eyes set on head hunting a number of strategic leaders who we feel will help AgriChain continue to move in the right direction, to what will undoubtedly be a promising and dynamic future.” CEO Caile Ditterich said.

www.agrichain.com

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