FarmCrowdy raises $1m seed funding to expand into more states in Nigeria


Nigerian digital and crowd-funded agriculture platform, FarmCrowdy has announced raising a $1m seed fund, barely a year after it launched. This seed round has local and international investors on board, including Cox Enterprises and Techstars Ventures,  as well as angel investors Tyler Scriven and Michael Cohn,

You will remember that FarmCrowdy was the first and only African startup to be shortlisted into Techstars Atlanta’s accelerators programme in August. Founded by Onyeka Akumah, the startup enables working class Nigerians to crowd-sponsor farming projects with the promise of a share in the returns. They can do this via the online platform or a recently launched app.

According to the Press Release Techpoint received, “seed fund will allow the award-winning startup to scale its operations with plans to expand into a combined 20 states in Nigeria, work with 4,000 additional small-scale farmers and engage a combined 20,000 new farm followers and farm sponsors on its platform to learn about the opportunities in Agriculture and partner with farmers.”