ChainCatcher news, the blockchain software as a service solution AfriDex, based in London, UK, announced the completion of a $5 million Pre-Seed funding round, led by Endeavor Ventures, with participation from African Crops Limited, Oldenburg Vineyards, and Hank Oberoi.It is understood that AfriDex is currently focused primarily on the agricultural market, providing support and protection for supply chain participants through comprehensive on-chain solutions, utilizing blockchain technology to achieve traceability, frictionless payments, fraud-proof transactions, verified certifications, and streamlined tax and subsidy management.

ChainCatcher news, according to The Block, the Solana-based tokenization platform AgriDex has completed a $5 million funding round, led by Endeavor Ventures, with participation from African Crops Limited, Oldenburg Vineyards, and former Goldman Sachs and Citadel executive Hank Oberoi. AgriDex is expected to launch its platform and token AGRI in the third quarter of this year.AgriDex co-founder and CEO Herry Duckworth stated that this funding round was completed in the form of equity financing, with a valuation of $18 million. As part of the deal, Endeavor Ventures co-founder and CEO Bill Cunningham also joined the AgriDex board.It is reported that AgriDex is a Solana-based platform that tokenizes agricultural products and supports the trading of these tokenized goods. Each transaction on AgriDex is represented by the minting of a non-fungible token (NFT), which permanently records all product details, pricing, payments, and other information.