We are pleased to let you know that yours faithfully, Nigeria’s first and leading digital agricultural platform, has received an additional seed funding of $1 million.
Farmcrowdy raised its first $1 million in seed funding from investors in 2017 after being shortlisted as the only African startup in the Techstars Atlanta Accelerator Programme, 2017 batch.
Since inception in 2016, Farmcrowdy has gone on to empower over 12,000 farmers across 13 states in Nigeria; reared close to 2,000,000 birds, cultivated 16,000+ acres of farmland with over 35,000 farm units sold.
This year, international investors Cox Enterprises and Techstars, as well as local investor, Ajayi Solutions, were key players in raising the additional seed funding of $1 million. Given the positive outcome of the initial funding, Farmcrowdy will use this subsequent investment to continue building their award-winning model, whilst expanding across Nigeria to cover 50% of all 36 states in the country over the next 12 months.
In the words of Cody Simms, a partner at Techstars, who did a follow-on investment in this subsequent funding following the initial round,
“Techstars has been deeply impressed by Farmcrowdy’s mission to end poverty in Africa one farmer at a time since we first invested in the company in 2017 as part of Techstars Atlanta in Partnership with Cox Enterprises. We are excited about the continued growth of the Farmcrowdy platform and thrilled to continue our support of the business with the most recent financing.”
Announcing the Farmcrowdy Group
In line with our goal to keep building agritech solutions that will lead to the achievement of global food security, we are proud to announce the launch of the Farmcrowdy Group.
We have been working on a lot of projects and we will be unveiling them in the coming months.
Announcing the Farmcrowdy Technical Field Specialist (TFS) App
Our existing farm app caters to farm sponsors who can sponsor new farms and monitor the farms directly on their mobile phones.
However, we realized that we needed an easy to use app for our on-site Technical Field Specialist (TFS) and farmers in our network to communicate properly.
Our tech team have been busy at work and we are ready to unveil the new (TFS) app. The app will aid in profiling farmers better, managing inventory, as well as data collection and analysis for existing farmers.
We will continue to facilitate the growth of an active community committed to the empowerment of local farmers and enhanced food production in Nigeria and across Africa.
In the words of our CEO, Onyeka Akumah, “Today’s announcement of this additional funding marks another milestone for us as we amplify our presence in the country and explore new opportunities.
We are delving into the possibility of utilizing drone services for field analysis, improving farmers yield with additional research and 3D mapping, as well as entering into formidable strategic partnerships that will grow the impact of our work. We’re continually grateful that we have a group of investors who share and support our vision as much as we do. It is a great source of motivation for the entire team as we look to the next phase of growth as a company.”
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