Farmcrowdy agritec is a Nigerian based startup that aims at connecting small-scale farmers to investors. The sponsors can be both local and international who invest in farm cycle. Launched more than one year back, it connects farmers who deal with anything in poultry or cassava. Poultry products take 3-5 months while cassava takes nine months for maturity. Farmers on the ground receive advice and training from agriculture experts. Training and advice on the best agricultural practices are important. Also, different types of crops and production methods are needed. After the harvest, both farmers and sponsors receive a certain percentage of profit.
The startup has been able to connect more than 2,000 farmers with more than 1,000 different sponsors. They launched a mobile app on Google Playstore and Apple Appstore. The app has offered meeting place between the sponsors and farmers. Farmcrowdy allows Nigerians to venture into farming and agriculture through an app. It helps in empowering local farmers and boosting production. At the same time, it ensures the security of food for Nigeria.
It improves the lives of local farmers it as well as makes profits for sponsors and investors. Farmcrowdy is a graduate of TechStars Atlanta’s 2017 cohort. The startup got $1 million seed investment round. The investment came from, Cox Enterprises, Social Capital, Right-Side Capital and Hallet Capital. Angel investors were Tyler Scriven, Michael Cohn, Josephine Group. FC Agro Allied SPV and Dr. Christof Walter were also included.
The startup that launched in November 2016 has had many challenges. The startup came at the time when the Nigerian government needed to help the small-scale farmers. Improving food security and food production was the main agenda by then. The founder had background knowledge of poultry farming. He had run the business for 12 years with 200 chicks. Nigerian small-scale farmers lack the time and required skills on agricultural production. But they have the resources. It only called for ways of tapping the resources to good use.