Total amount raised
$115.5 Million
Latest funding date
9/1/2023
Location
Absolute has successfully raised funding over six rounds, with the latest being a grant, supported by nine investors including Assam AgriFin and Alpha Wave Global. The company is a pioneering force in plant bioscience, focusing on innovations that decarbonize agriculture and create sustainable solutions.
Keep reading to explore the intricacies of Absolute's fundraising journey and the investors backing this innovative platform.
What Is Absolute?
Absolute is a pioneering plant bioscience company based in New Delhi, Delhi, India. Operating in the agriculture, biotechnology, food and beverage, and fruit industries, the company employs between 501 and 1000 people.
Focused on decarbonizing agriculture and creating sustainable solutions, Absolute has made significant strides in biosciences. The company is supported by a board of advisors with extensive expertise and has several initiatives aimed at promoting biodiversity, carbon neutrality, and soil health.
How Much Funding Has Absolute Raised?
- Grant
- Amount Raised: Not publicly disclosed
- Date: September 2023
- Lead Investors: Assam AgriFin
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development initiatives.
- Series B
- Amount Raised: USD 100,000,000
- Date: May 2022
- Lead Investors: Sequoia Capital India, Alpha Wave Global, Tiger Global
- Valuation at Round: USD 500,000,000
- Motivation Behind the Round: To enhance technology, hire new talent, and expand into new markets and segments.
- Series A
- Amount Raised: USD 12,600,000
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Estimated to be in the range of USD 40,000,000 to USD 50,000,000
- Motivation Behind the Round: To scale operations and expand market reach.
- Seed
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and development.
- Seed
- Amount Raised: USD 2,260,000
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial scaling and development efforts.
- Seed
- Amount Raised: USD 663,059
- Date: September 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund early-stage research and development.
Total Amount Raised: USD 115,523,059. Current Valuation: USD 500,000,000.
Key Investors
- Sequoia Capital India
- Details: Sequoia Capital India is a venture capital firm that invests in early and growth-stage companies. It has a strong presence in India and has been involved in various successful startups.
- Investment Focus Areas: Technology, consumer, healthcare, financial services
- Notable Investments: BYJU'S, Zomato, OYO
- Alpha Wave Global
- Details: Alpha Wave Global is an investment firm that focuses on high-growth companies across various sectors. It is known for its strategic investments in technology and innovation-driven businesses.
- Investment Focus Areas: Technology, innovation, high-growth companies
- Notable Investments: Swiggy, Unacademy, Razorpay
- Tiger Global
- Details: Tiger Global is a global investment firm that manages hedge funds and private equity funds. It invests in both public and private markets, with a focus on technology-driven companies.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Flipkart, LinkedIn, Spotify
- Assam AgriFin
- Details: Assam AgriFin is listed as a lead investor in multiple funding rounds for Absolute. Specific details about Assam AgriFin are not provided on the available sources.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Lead investor in multiple grant funding rounds for Absolute
- Surge
- Details: Surge is mentioned as a major investor in Absolute. Specific details about Surge are not provided on the available sources.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Major investor in Absolute
What's Next for Absolute?
Absolute stands at the cusp of significant growth opportunities, driven by its innovative platforms like BioX, FARM OS, and a global trade platform. With the Indian agritech market projected to grow to $30-$35 billion by 2025, Absolute's expansion into new geographies and the deployment of FARM OS across 100,000 acres present substantial potential.
Future fundraising rounds are likely as Absolute continues to scale its operations and enhance its technology. The interest from marquee investors like Sequoia Capital India and Tiger Global suggests a strong foundation for further financial backing, which will be crucial for supporting its ambitious growth plans.
However, Absolute may face challenges such as scaling operations across diverse regions, maintaining rapid revenue growth, and competing with other well-funded agritech startups. Navigating these hurdles will be essential for sustaining its momentum and achieving long-term success in the competitive agritech landscape.
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