Pioneering Ventures, a Switzerland-based agri-food investment firm, has recently acquired the Indian agtech company Lateral Praxis.
The acquisition will help improve the firm’s downstream reach of tech-enabled solutions for food supply chain including information access, apps, data analytics and risk mitigation.
“Our experience and core competencies will be augmented well by Pioneering Ventures’ expertise and presence across the food supply chain, helping us jointly scale up our solutions and delivery,” said Suniti Gupta, the founder of Lateral Praxis.
Notably, Pioneering Ventures is currently engaged in building India’s most comprehensive agri-food platform that will consist of vertically integrated and tech-supported agri-food businesses.
Earlier, Pioneering Ventures took complete control of Desai Fruits & Vegetables Pvt. Ltd, an agri-food company.
It is to be mentioned here that Mumbai-based Lateral Praxis aims to provide analytical dashboards, coupled with real-time field data acquisition services. Also, it allows retailers, distributors and manufacturers to monitor trends, track history, and ensure currency throughout the supply chain.