Farmer Connect raises $9m to meet surging supply chain demand
Agritech business Farmer Connect has secured $9m (£6.5m) funding to help in its mission to make agriculture supply chains sustainable. The investment would be used to capitalise on demand for sustainable, inclusive and efficient agriculture supply chains that benefit farmers and consumers, the Switzerland-headquartered firm said. Japanese general trading company Itochu Corporation led the funding round, with additional investors in Europe and North and South America, alongside founding partner Sucafina, a ‘farm to roaster’ coffee company. The series A financing follows significant growth in 2020, which included a surge in revenues and a rapidly expanding roster of clients and industry partnerships, including Brazilian coffee co-operative Cooxupé, UCC Coffee, Beyers Koffie, and The JM Smucker Company. Founded in 2019, Farmer Connect provides software to help smallholder farmers around the world connect digitally to the agriculture supply chain using blockchain technology and artificial intelligence. It also allows consumers to use an app to trace the origins and quality of the goods, as well as giving the option to financially support the producers.
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