Company Overview
Snapshot
Founded in April 2017 by Shalom Ben Or, Ishai Ben Or, and Ismail Kharoub, Avenews operates with 11–50 employees. The company has raised $3.6 million across two funding rounds from three investors. In January 2021, Avenews secured a seed round from XT Venture Capital, highlighting ongoing investor confidence in its agribusiness financial management platform.
Business overview
Avenews develops a digital agribusiness management platform designed to create an infrastructure for financial institutions to provide services to their agribusiness customers operating across supply chains in emerging markets. The platform enables agribusinesses to manage operations including inventory, invoices, orders, and payments, while providing financial institutions access to previously unavailable agribusiness data to reduce risk and distribute financial services. Every interaction on the platform is stored on the Avenews blockchain, establishing a digital economic identity for each agribusiness. The company primarily serves the Fintech & Insurtech sector, with a focus on agriculture and food technologies, and operates globally, including in Africa and Argentina.
Strategic signal
In February 2021, Avenews announced a $3 million fundraise from Global Holding Group, following a seed round in January 2021. This significant capital injection underscores investor confidence in Avenews' blockchain-powered financial management platform for agribusinesses, signaling strong potential for market expansion and further development of its digital infrastructure to bridge gaps between financial institutions and the agricultural industry in emerging markets.
Log in to access full profile ›Company Intelligence Q&A
- What is Avenews' primary focus?
- Avenews focuses on providing a digital agribusiness management platform that facilitates financial services for agribusinesses across supply chains in emerging markets, leveraging blockchain technology.
- When was Avenews founded and by whom?
- Avenews was founded in April 2017 by Shalom Ben Or, Ishai Ben Or, and Ismail Kharoub.
- How much capital has Avenews raised to date?
- Avenews has raised a total of $3.6 million across two funding rounds.
- Which investors participated in Avenews' January 2021 funding round?
- In January 2021, Avenews secured a seed funding round from XT Venture Capital.
- What is the role of blockchain in Avenews' platform?
- Every interaction on the Avenews platform is stored as a verified asset on its blockchain, creating a digital economic identity for each agribusiness within the supply chain.