Home AgriTech farmer connect raises €7.5M in Series A funding

farmer connect raises €7.5M in Series A funding

farmer connect raises €7.5M in Series A funding
farmer connect raises €7.5M in Series A funding

Switzerland-based SaaS startup catering to the agriculture sector, farmer connect announced in March 2021 that it has secured €7.5M in a Series A funding round led by ITOCHU Corporation. Other funding round participants include investors from Europe and North and South America, along with founding partner Sucafina, the ‘Farm to Roaster’ coffee company.

About the startup

farmer connect
farmer connect

farmer connect was founded in 2019. Its vision is to humanise consumption through technology, allowing traceable, sustainable and efficient agriculture supply chains by connecting farmers to consumers and everyone in between. It helps smallholder farmers to connect to the agriculture supply chain digitally, and its blockchain technology guarantees traceability and data validation by all parties. Its thank my farmer app then lets customers trace the commodity’s origins and quality and even financially support the producer that grew the raw goods. This collaborative network empowered by the farmer connect software ensures safe and absolute supply chain data, supporting producers in accessing financing and investment, hence improving living conditions. It also benefits traders, roasters, retailers and brands by helping them access sustainable produce easily through task automation, reporting and smart contracts.

The startup had recorded significant growth in 2020. It saw a surge in revenue and acquired many clients and industry partnerships, including Cooxupé, the world’s biggest coffee cooperative in Brazil, UCC Coffee, Beyers Koffie, and The J.M. Smucker Company. Also, farmer connect hired ex-Kraft Foods and Nestlé executive Michael Chrisment as CEO in July 2020 to accelerate its growth.

Statements from the stakeholders

Koji Yamamoto (Mr), General Manager of Sugar, Confectionery Materials, Coffee & Dairy Products Dept, ITOCHU, said the farmer connect software is well-timed with the rapidly growing demand for solutions that bring traceability and trust to the agriculture supply chain. He believes there is a definite demand from the market for more transparent and ethical solutions that provide value to all supply chain players.

Nicolas A. Tamari, Chief Executive Officer, Sucafina SA, said the industry experts at farmer connect had developed a robust blockchain concerted ecosystem that unloads commodities’ traceability. He added that they are excited to collaborate with and support the startup as they work to build a great tech company that connects farmers and consumers, helping farmers improve production and scale their business.

The farmer connect software also builds and develops on the IBM Blockchain Transparent Supply, acclimatising it to the supply chain’s needs and business models and adding new features, such as farmers’ ability to participate unswervingly in data sharing and control. 

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Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.

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