Sunday, 4 March 2018

FARMCROWDY AWARDED $325,000 GRANT FROM GSMA TO REACH FARMERS THROUGH TECHNOLOGY

Farmcrowdy, Nigeria's digital agriculture platform which allows Nigerians to venture in and sponsor agriculture, has been named as a recipient of a $325,000 grant from dedicated GSMA global team Mobile for Development as part of the GSMA Ecosystem Accelerator Innovation Fund.

The grant will allow the multiple award-winning startup develop a mobile app for smartphones and feature phones that will enable farmers and Technical Field Specialists interact about farm related activities. The app will also deliver other services to farmers, such as information, electronic payments and training.

Launched in 2016, the Fund was set up to provide selected start-ups in Africa and Asia Pacific with grant funding, technical assistance and the opportunity to partner with mobile operators in order to scale their products and services into sustainable businesses with positive socio-economic impact.

Other recipients of the 2017 equity-free grant award include Ugandan Fintech startup Ensibuuko and online m-payment platform LipaMobile, Tanzanian Micro-Health Insurance product Jammi Africa, Kenyan education mobile platform Kytabu and Optimetriks , Zambian Musanga Logistics, Nigerian e-learning platform PrepClass, Egyptian Carpooling app Raye7 and multinational knowledge-based network, Lynk.

Onyeka Akumah, Co-Founder and CEO of Farmcrowdy said, "We at Farmcrowdy are honoured to have our hard work recognised and supported by GSMA. We are thrilled about the possibilities this grant will provide as we continually strive to remain at the forefront of innovation in Agritech across Nigeria. This award will play a crucial part in the continued journey towards scaling our activities across the country while building our relationships with the telecommunication partners of GSMA across Nigeria."

Launched just over a year ago, Farmcrowdy, the only African startup from Techstars Atlanta's 2017 cohort, recently announced a $1million seed fund led by international and local investors including Social Capital, Cox Enterprises and Techstars Ventures.

The seed fund will allow the startup to scale its operations with plans to expand beyond 8 states they operate in Nigeria, work with more than 4,000 small-scale farmers by the end of 2018 and engage 20,000 new farm followers and farm sponsors on its platform, as they participate in addressing sustainable development goals through the opportunities available in agriculture.

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