Solana-based tokenized platform AgriDex completes $5 million pre-seed round of financing and plans token airdrop

PANews reported on May 9 that according to The Block, the Solana-based tokenized platform AgriDex successfully raised $5 million in the pre-seed round. This round of financing was led by Endeavor Ventures, a venture capital firm focused on technology, and investors included African Crops Limited, Oldenburg Vineyards, and former Goldman Sachs and Citadel executive Hank Oberoi. After this financing, AgriDex is valued at approximately $18 million. Bill Cunningham, co-founder and CEO of Endeavor Ventures, will also join the board of directors of AgriDex.

AgriDex plans to launch its platform and token AGRI in the third quarter of this year, and will airdrop tokens to the community in the coming months, with a total airdrop of 5% of the total token supply (i.e. 50 million out of 1 billion). In addition, AgriDex also plans to publicly sell its tokens at a price of $0.10 per token, and will use 50% of the profits to repurchase and destroy tokens to increase token scarcity and increase their value. Profits will be accumulated quarterly, and the repurchase process will be carried out every day. London-based AgriDex currently has nearly 20 employees and plans to increase the team size as the business expands.