AgShift, a tech start-up said it had raised $2 million in a funding round led by Exfinity Ventures. The California-based firm said it is building the world’s first autonomous food inspection system leveraging deep learning and computer vision, to reduce global food waste. It would use the money to strengthen product development and expand customer reach.
Miku Jha, founder and CEO of AgShift, said inconsistent and subjective inspections result in a loss of $15.6 billion a year for the organisations responsible. “AgShift can make a huge impact on reducing 1.3 billion tons of annual food loss and waste - a complex, real-world challenge for everyone,” Ms. Jha said in a statement.
The firm said it is currently working with a select group of food industry leaders to bring their innovative solution to market. The firm said its software blends patented deep learning models with computer vision to make food inspections autonomous, consistent and standardised at scale. “AgShift’s unique application of deep learning with a challenging proposition truly excites us,” said Shailesh Ghorpade, managing partner and CIO of Exfinity Ventures.
