TraceX announces partnership with international non-profit TechnoServe
General

TraceX announces partnership with international non-profit TechnoServe

As a part of the partnership, TraceX’s blockchain-powered platform will offer ‘bean to cup’ traceability for coffee produced by 3500 farmers in Araku Valley

  • By ICN Bureau | June 29, 2022

TraceX Technologies, a blockchain-powered traceability platform that enhances food and supply chain transparency, has partnered with international non-profit TechnoServe, to offer end-to-end digital traceability for coffee produced by 3500 farmers in Araku Valley, Andhra Pradesh.

Through this partnership with TraceX, TechnoServe can provide their partner brands Blue Tokai and Humble beans the ability to track and record the journey of coffee through every stage of the production process, from bean to cup.

As a part of the ‘Sustainable Livelihoods for Smallholder Farmers’ program, grant-funded by the Walmart Foundation, TechnoServe currently works with 4000 farmers through Farmer Producer Organizations (FPOs) spread across 355 villages in the Araku Valley.

Sandesh Deranna, Crop Lead- Coffee Value Chain, TechnoServe, said, “TechnoServe’s program ‘Sustainable Livelihoods for Smallholder Farmers’, grant-funded by the Walmart Foundation, is aimed at improving the lives of smallholder farmers in Andhra Pradesh by establishing sustainable, locally-led systems and processes for FPOs and promoting good agriculture practices and post-harvest management practices among the FPO shareholders. In order to do that, we are always on the lookout for digital tools that will help farmers improve their incomes and build a better future for themselves. TraceX was exactly the solution we were looking for. Through their blockchain-enabled traceability platform, TraceX empowers farmers by giving them more visibility, improving efficiency and profitability, building trust and transparency, leading to a better connect with the end consumers.”

Commenting on the partnership, Srivatsa Sreenivasarao, Co-Founder and CEO, TraceX, said “Traceability allows for a connected supply chain where brands can seamlessly access information about the work done by Farmer Producer Organizations in the pre-harvest stage. It offers transparency and differentiation to each stakeholder in the supply chain.”

The company has raised USD 1 million in pre-series A funding led by NABARD backed NABVENTURES Fund. The round also saw participation from Paipal Ventures, an early stage family office investment fund, and from angel investor Sunil Kuma

Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2024, 11-12 July 2024, Mumbai

Other Related stories

Startups

Chemical

Petrochemical

Energy

Digitization