Agritech startup Farmcrowdy and its first subsidiary, Farmgate Africa, a platform that focuses on agro commodity trading, have both combined to create a bigger and better entity known as Farmcrowdy.
This is a bid by Farmcrowdy to get a stronger foothold in Nigeria’s £30bn agricultural sector, combining its offerings – investment, production and trading as one entity and looking at the export potential of products.
The combined businesses will continue to operate in their different capacities, but incorporated in a bigger platform. That said, there will be some degree of integration for both platforms.
Investment and trading options in beef processing, ginger farms, cattle farms and poultry farms which was exclusive to Farmgate Africa will now be available on the Farmcrowdy platform. The integration of platforms and structure are currently being worked on.
Under the new Farmcrowdy, Temitope Omotolani, Chief Operations Officer, Farmcrowdy, will continue to oversee the production side of the company. Managing Director of Farmgate Africa, Kenneth Obiajulu, will oversee the trading aspect (formerly Farmgate Africa) of the new entity.
We are consolidating all our businesses into one. We are bringing in the trading side of our business and the production side all under one platform called Farmcrowdy which will now be undertaking the business of trading, production and everything related to agriculture that we have on our platform.Onyeka Akumah, Co-founder and CEO, Farmcrowdy.
With operations in 14 states, Farmcrowdy has 25,000 farmers on its platform with a direct impact on 12,000 who have gone on to cultivate 16,000 acres of farmland across the country. Farmers are recruited and their data (including their biometrics and GPS coordinates) collected to ensure accountability as well as to offer them data-driven intelligence.
Currently, Farmcrowdy has partnerships with Livestock247, an online livestock marketplace, and Best Foods. Via these partnerships, they help process and market livestock produce and grow a livestock chain.
So far, it has reared 2000 Cows and supplies 45 daily to 44 outlets with the assurance of traceable and disease free animals. It has also produced 2.5 million Chickens since inception.
Farmcrowdy has so far generated $12 million in cultivation-geared investment. The platform which already has partnership with some states will be out for new partnerships as it looks to expand into 4 more states, increase it current supply of cows for slaughter to 100 as well as surpass 100,000 farmers on its platform.
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