Wefarm has secured $13 million in a Series A funding round. The farmer-to-farmer digital network will leverage the funding to scale its digital marketplace of smallholder farmers in Africa.
The platform took to Twitter to announce this.
Our $13m Series A funding led by @trueventures has just been announced! Thank you to our amazing team and our incredible community of 1.9m farmers for making the journey possible. We’re excited to take the next (big) step forwards together #togetherwefarm https://t.co/ml0qnvOe3Z
— Wefarm (@wefarm) October 29, 2019
The funding round was led by True Ventures alongside AgFunder, June Fund and previous investors like; LocalGlobe, ADV and Norrsken Foundation.
See Also: Wefarm Hits Over 1 million Users Across Kenya and Uganda
Launched in 2015, the Wefarm vision was born in 2010 to bring knowledge-sharing services to smallholder farmers and encourage better agricultural productivity. The SMS-based peer-to-peer knowledge sharing platform can be accessed via any mobile phone. Wefarm also provides farmers with easy access to quality products from trusted retailers and brands.
Wefarm CEO and Founder, Kenny Ewan noted that the funds will help them improve farm yields. He said if Wefarm can inspire 100 million farmers to synergize on one platform, it can also swing global agriculture and trade in their favour.
According to Jon Callaghan the co-founder of True Ventures, they were inspired by how the Wefarm team empowered the world’s farmers.
In his words; “We see great potential for their future. The company is not only impact-driven, but the impressive growth of the Wefarm Marketplace demonstrates exciting commercial opportunities that will connect those farmers to more of what they need to the benefit of all, across the food supply chain. This is big, global business.”
The platform plans to utilize the secured funds in enlarging its marketplace of trusted farmers. They will achieve this by vetting local suppliers who will in return help connect farmers and the agroecosystem.
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