Wefarm raises $11 million to connect small-scale farmers
Wefarm , the world’s largest platform for small-scale farmers, will expand its SMS service into an online platform, following an $11 million Series A-Plus round. Since 2015, Wefarm has provided 2.5 million farmers with a free, AI-driven SMS tool to connect them with each other and a trusted marketplace. This platform expansion marks a new moment of connectivity for hundreds of millions of farmers worldwide.
The round was led by Octopus Ventures, with participation from new and existing investors, including True Ventures, Rabo Frontier Ventures, LocalGlobe, June Fund and, AgFunder. This round of investment brings Wefarm’s total funding to $32 million.
The platform is enabling farmers to connect with one another and leverage the power of their community. Using Wefarm, farmers can combine their knowledge and buying power as they tackle global challenges that are impacting their yields such as climate change, limited soil fertility, and growing demands for food worldwide.
To date, 2.5 million farmers have connected with one another for free and without access to the internet via the Wefarm SMS platform. The company pioneered this offline technology for the market in 2015. Over 37 million knowledge-sharing conversations have taken place on the Wefarm SMS service, while the marketplace has generated $29,000,000 in sales. The online expansion of the SMS service features a forum-based platform. This will enable farmers to work together to solve problems, support each other, and aggregate their buying and selling power to change the global supply chain.
“Wefarm is building the definitive platform and network for the world’s biggest vertical. This is perhaps the largest community on Earth and yet it’s been vastly underserved by tech. Today, the community is ready to expand into an online space with us. We have years of learnings and millions of data points to strengthen our first-mover advantage as we build the online expansion of Wefarm for hundreds of millions of farmers.” – Wefarm Founder and CEO, Kenny Ewan.
“By building a highly engaged community of millions of small-holder farmers, Wefarm has created a powerful platform providing greater access to vital knowledge and information, which allows farmers to unlock greater economic potential from their land. In practice that might mean understanding which fertilizers work best, what the market price is for certain goods, or new farming techniques that result in better yields, all of which can make a significant difference to livelihoods. It’s also an enormous market with more than 400 million small-holder farmers globally who collectively spend around $400 billion on farming inputs. There is a huge opportunity for Kenny and the team at Wefarm to achieve incredible scale and we’re excited for the launch of its digital platform which will further accelerate growth.” – Kamran Adle, early-stage investor at Octopus Ventures.
