Agritech
Agritech, short for agricultural technology, involves the use of technology to enhance and optimize various aspects of farming and agriculture. This can include the application of modern tools like drones, sensors, and data analytics to improve crop yield, monitor soil conditions, manage resources efficiently, and make informed decisions in farming practices. Agritech aims to increase productivity, sustainability, and overall efficiency in the agricultural sector through technological innovations.
Agritech Startups
Agritech startups are companies that leverage technology and innovation to address challenges and improve efficiency within the agricultural sector. These startups are the business of developing and implementing cutting-edge solutions, such as precision farming technologies, data analytics, artificial intelligence, and IoT devices, to optimize various aspects of farming processes. The goal is to enhance crop yields, reduce resource usage, and contribute to sustainable agricultural practices. Agritech startups play a crucial role in modernizing the agriculture industry and addressing global food security issues. Some of the Agritech startups provide solutions for seamless agro products marketing.
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Agriculturial Technology Startup Companies in Nigeria
There are 20 Agritech startup companies in Nigeria, and they have have raised total $126.8 million. They are:
- Thrive Agric
- Babban Gona
- Foodstock Farmers Market
- Tomato Jos
- Hello Tractor
- Farmcrowdy
- Winich Farms
- Farmz2U
- Crop2Cash
- EZ Farming
- ePoultry
- Zowasel
- HerVest
- Baby Grubz
- Emmnoch Farms
- PorkFund
- Arla Food
- Powerstove Energy
Thrive Agric
Thrive Agric is an agricultural technology startup leveraging technology to empower smallholder farmers in Nigeria and Africa, connecting to Access to Finance, and Data-driven best practices, and access premium global markets for effective distribution of food commodities and maximization of profits for farmers. The company which started in 2016 in Kaduna with about 500 smallholder farmers, has grown to having over 500,000 onboarded farmers, over 1.5 million grains traded on the platform.
Thrive has raised $58.5 million capital in Non-equity Assistance as of the last round., placing as the most funded Agritech Startup in Nigeria.
Babban Gona
Gabbana Gona is Agriculturial innovative startup focusing on addressing the key underlying structural problems affecting smallholder farmers especially in the Northern region. Established in 2012, Gona’s innovative technology platform and program help the smallholder farmers maximize profits, and turning at-risk youths into successful entrepreneurs in agriculture.
As of the last round, Gabbana Gona has received a total of $24 million capital funding through debt financing.
Agricorp
Agricorp is in the business provides global exports services to ginger famers and merchants in key trading markets in Africa.
Founded in 2018, Agricorp has so far raised a total of $17.8 million capital in Series A.
Foodstock Farmers Market
Foodstock Farmers Market is an Online Farmers Market in Nigeria. The company provides online platform for buying of fresh farm produce straight from the farm to and delivers them to their customers doorstep . The company sells both wholesale and retail.
Established in 2016, Foodstock Farmers Market has gotten a $9.5 million funding in Series A.