Farmcrowdy closes on seed funding of $1mn
Nigeria’s first digital agriculture platform, Farmcrowdy, announced on 18 December that it had closed on seed funding of $1mn.
That platform, which allows Nigerians to venture in and support agriculture through connecting small scale farms and sponsors, received funding from international and local investors.
The startup was launch just over a year ago, and was the first of its kind to allow people to invest in farm cycles – a farm cycle can be anything from poultry (3-5 months) to cassava (9months).
Farmers can receive advice from Farmcrowdy’s Technical Field Specialists, and sponsors will receive their original sponsorship with an additional 40% of profit.
“Today’s seed announcement is a remarkable milestone for us and Nigeria’s Agritech industry as a whole - especially having just celebrated the anniversary of our first year of operations in November 2017,”
“It will allow us to build on our earlier traction as we continue to introduce Nigerians to this exciting new category of partnering with farmers for impact and return.”
“We are happy to amplify our work with the farmers across new states in Nigeria while empowering local farmers by hiring more agriculture technology experts to impart knowledge to ensure best practice in farming methods.”
“We’re thrilled that as a Nigerian startup operating for just over a year, we have a group of investors who share in the vision and mission of Farmcrowdy as much as we do.”