Nigerian Platform Farmcrowdy Raises $1M Seed Funding, Plans Series A Round In 2019
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Farmcrowdy gives Nigerians who would not typically be involved in agriculture the opportunity to sponsor a farm, with the proceeds enabling the farmers to increase their capacity and food production while the sponsors may also make a profit.
The app promotes youth participation in the agricultural sector while providing farmers access to resources that they would not usually be able to afford.
The $1 million investment brings Farmcrowdy’s total funding to $2.4 million since it launched in 2016, according to Crunchbase.
Award-winning Farmcrowdy platform
The investment will be used to improve Farmcrowdy’s award-winning platform and expand its service to more than half of Nigeria’s 36 states over the next 12 months, according to Bizcommunity.
The Nigerian startup was named Best Agritech Solution for 2018 at the AppsAfrica Innovation Awards, held in South Africa in November 2018, in recognition of the platform’s innovative app, according to AppsAfrica.