In what is a one-way trip, Eduardo Novillo Astrada, a polo player with several generations of polo players in his DNA, discovered that the crop could be “tokenized” to create a soy-backed cryptocurrency, For example.
And so it built a bridge between the physical handling of cereals and digitalisation with Agrotoken which was born in 2021.
They started in Argentina but where they found a great echo is in Brazil, to the point that Novillo Astrada moved to Sao Paulo to satisfy a growing demand in the country that has converted with 1,000 million tons of cereals into the world’s leading producer and guidance in using digital tools for marketing.
The news is that he managed to close the first round investment of 12.5 million dollars and incorporated Bunge Ventures, the investment arm of the Bunge giant, as a shareholder. It joined Visa, which was there from the beginning.
In Brazil they are closing contracts Raizen, leader in sugar and ethanol biofuel. Raizen owns 50% of Shell service stations in Argentina. And they are coming true with the Banco do Brasil and the German BASF. They are trying to get into the coffee business.
In turn, together with Bunge, with a strong presence globally and also in Argentina, they will make the leap to connect farmers with consumers in the delivery of food, fodder and fuel.
“Agrotoken and Bunge are exploring opportunities to co-create solutions to improve the digital experience of Bunge’s global customer network,” anticipated Novillo Astrada, CEO of Agrotoken. Clarion.
-What will they do with the $12.5 million? he was asked.
-This capital gives us the drive, energy and ability to expand our horizons, pursue our goals and face the next challenges that await us with strategic partners.
The group of investors includes, in addition to Bunge and Visa, number one in digital payments and disruptive payment solutions, other shareholders.
These are reportedly Borderless Capital, Xperiment Ventures, Beagle Capital, Barn Investimentos VC, MatterScale Ventures, BYX Ventures, Newtopia VC, OCTAVA, Capitallab VC and Christophe Groh.
According to Novillo Astrada, Agrotoken set out to create the first global tokenization infrastructure by “creating collection-based trusted tokens. They are the first agroactives backed by beads to save and make transactions“he assured.
Source: Clarin
