Nigerian agritech startup Farmcrowdy has raised an additional $1 million in seed funding, attracting investments from global players Cox Enterprises and Techstars, along with local partner Ajayi Solutions. This brings Farmcrowdy’s total investment to $2 million, building on a previous $1 million round in 2017, which also included Cox Enterprises and Techstars. The milestone underscores investor confidence in the company’s growth and vision.

The new funding will enable Farmcrowdy to expand its footprint and services in preparation for a forthcoming Series A round. The company aims to reach 50 percent of Nigeria’s 36 states within the next year, broadening its agricultural impact and solidifying its presence in local markets.

In tandem with this funding, Farmcrowdy launched the Farmcrowdy Group, a dedicated entity to develop innovative agri-tech solutions that foster food security across Africa. Initiatives include drone-assisted field analysis and advanced 3D mapping technologies to optimize farmer yields, reflecting a strong commitment to innovation.

Farmcrowdy has also unveiled the Farmcrowdy TFS App, designed specifically for its Technical Field Specialists. The app allows for efficient farmer profiling, inventory management, and streamlined data collection, ensuring precise monitoring of the startup’s growing farmer network.

Founder and CEO Onyeka Akumah emphasized the significance of the funding milestone. “This additional investment allows us to amplify our reach and form strategic partnerships that enhance the impact of our work. We are fortunate to have investors who share our vision and inspire our team to achieve even more,” Akumah stated.

Cody Simms, partner at Techstars, highlighted the startup’s mission to combat poverty in Africa as a driving factor for continued investment. “Farmcrowdy’s platform is making a meaningful difference in agricultural development, and we are thrilled to support the company in its next growth phase,” Simms noted.

Founded in 2016, Farmcrowdy connects small-scale farmers with sponsors who fund their agricultural projects. Over its operational history, the platform has empowered approximately 12,000 farmers across 14 states in Nigeria, contributing significantly to agricultural development and economic empowerment.