Before, farming and other farming related activities is done with crude tool and implement, it was difficult for farmer to make huge income from is effort and what about food security it was poor since there is not enough food in circulation.
Thanks to mechanical development which boosted the production of food with mechanical tools like tractor and harvester, but another problem crop up, the tool has lasted it time, we will need another brake through and tech comes in.
Agrictech companies are those companies that utilize tech to boost agriculture production. It could be an AI, Robot or Market place that connects one or two farmer together.
The purpose of this article is to show you the top Agritceh startup in Nigeria with some information about them.
1) Farmcrowdy
The first on our list is farm crowdy an Agritech startup focusing on improving food production in Nigeria and Africa by providing tool and improved seed to farmer.
It was founded in 2016 by Onyeka Akumah, Infeanyi anazodo, Tope omotolani and Jimoh mayegun and since then they have empower more than 20,000 farmer and a lot of investors have gotten return on their investment.
Farmcrwody is like a marketplace that connects investor with buyer. This is how it works, investors pay money (minimum amount is #20,000) and chose a farm activities (maize, broiler and others).
Once the lives cycle is over which usually ranges from 5 to 12 month the investor will get is capital and return.
What if they don’t pay?
Farmcrowdy is insured by leadway Assurance company.
Founder: Onyeka akumah, Infeanyi anazodo, Tope omotolani and Jimoh mayegun
Founded in 2016
Office location: Lagos and Abuja
2) Groupfarma
Groupfarma is like farmcrowdy it was founded for the sole purpose of helping farmer and this they have done well as they have help over 4500 farmer since it was establish.
It is a marketplace which connect investor to farmer, like farmcrowdy investor pay money and chose type of farm to invest in for a lifecycle which is between 6 to 12 months.
Groupfarma was founded by Biyi ogungbade, Folarn oloyede and Dotun oloyede, most of their farm is in south west of Nigeria and according to them they have over 30,000 hectares of farm.
The minimum to invest in this platform is #50,000 with 12% interest. There is assurance that you will get your money if investing go south since they are also insured by lead way insurance.
Office location: Lagos and Abuja
3) Farmsponsor
Farmspomsor is the third Agritec companies on our list that focus on investment, like the two above they also connect farmer to investor but here there is only one farming activities to invest in which is poultry.
Investors get their money and 15% ROI in 12 weeks. Farmsposor was founded in 2018 by keneth, it is a new kid on the horizon as they only have 300 farmer in their portfolio and over 1000 farms.
Founded in 2108
Founded by keneth
Location: port Harcourt
4) Farmspeak technology
This Agritch uses AI to improve farm production. They want to reduce wastage that occurs in farm by collecting regular data of the farm through AI.
5) Foodstock farmers market
Foodstock farmer seek to connect farmer with consumer. They observe that it is now a herculean task to get fresh product form farm.
If you order farm produce from the website it will take just three days to get to you and they promised to even reduce the delivery time.
Founded in 2016
Location Lagos
6) Vendesae
Vendease target hotels and restaurant, they are Agritech Company that wants to relief restaurant of their procurement problem by selling all what they need in a single website. With a click restaurant will get all what they need in their sight.
Founded in 2017
Location: Lagos
7) Reelfruit
Reel fruit produce dried fruit and fruit juice it was founded by Affong Williams and they have been growing as they launch another version of the product called all in one pack to further increase the sale.
Founder: Affong Williams
8) Farmkart
Farmkart was founded in 2010 by Jesse Osiobe, Evans Akanno and Temitope Aina with focus on fish and poultry.
They connect investors who have interest in farming but due to one reason or the other could not start farm, to farmer who are ready to farm.
The minimum ROI to get in Farmkart is 14% and you don’t need to be afraid of losing your money as they are also insured by leadway Assurance.
9) Foodlocker
Foodlocker is a Nigeria Agritech startup that aggregate farm produce. They buy from small holder farmer and sell to large buyers.
It was founded in 2017 and has been growing steadily perhaps due to it 6 month boot camp with founders factory Africa. Foodlocker has receive many awards such as
AFDB Agritech competition Awards
Startup accelerator awards
10) Thrive Agric
Thrive Agric is the most popular of all the Agritech companies in Nigeria; they seek to help farmer with finance by connecting them with investor.
Over the year they have help over 20,000 farmers and acquire over 150,000 acres of land. Thrive Agric was founded in 2016 by Ayodeji Arikawe and Uka Eje
Most of their investment is over 6 month with 6 to 25% ROI
11) Releaf
Releaf is a Nigeria Agritech company that wants to change how we process food in Nigeria, they started with vegetable oil but they have now expanded to other food. It was founded in 2017 and has win many awards such as
AFDB Agripitch (won $20,000 in November 2020)
Top 6 finalist of Agripitch with a prize of $120,000
12) Efarming
Efarming is an all-out solution for major agricultural problem in Nigeria. It was establish in 2018 by Adewale Oparinde to connect farmer to investor but it did not end there they observe that the major problem of farming is equipment so they offer equipment investing; investor will invest in equipment and it will be lease out to farmer while collecting fee.
The interest rate on equipment investing is 7% while other investing scheme has 15% interest.
The minimum to invest is #41,000 with life cycle of 6 to 12 months and for those that think having their own farm will be better they also provide already set up farm with as little as #300,000.
13) Payfarmer
Payfarmer is another Agritech company in Nigeria that also connect farmer to investor. It was founded in 2019 by Bamidele Alimi with focus on poultry, yam, pepper and catfish.
The minimum to invest is as little as #25,000 with a ROI of 12% in 6 to 12 months depending on the type of crop you choose. Since 2019 they have worked with over 3,000 farmers and more than 7,000 investors.
14) Renewdrive
Renewdrive is a clean tech/Agritech startup that seeks to help fruit and vegetable farmer. They observe the wastage that goes on in vegetable farming industries, therefore they create a product that can preserve it, thus reducing wastage.
Founded in 2015
Location; Lagos
15) Probity farm
Probity farm is cloud based management software that helps livestock and crop farmer to better understand what going on in their farm. It is divided into two part one for crop farmer and the other for livestock farmer
The crop farmer has the following part
- Soil test data
- Soil preparation date
- Sowing date and data
- Irrigation rate
The livestock part has the following
- Animal profiles
- Insemination schedule
- Animal health record
- Mortality rate
- Parturition data
- Weaning data
- Vaccination schedules and date
- Gestation date
In addition to this farmer can also manage their finances through the software
16) Easy Agro
Easy agro is an Agritech platform that connects buyer and seller together. Farmer can buy input and also seek service of logistic and storage companies.
Founded in 2016
Location: Lagos
17) Efarm agro
Efarm agro is a market place that enable farmer to deal directly with final consumer. Farmer can sell their goods to consumer while Efarm act as a check and balance. Efarm also deliver the product once the transaction is done.
18) Farminginite
They act as marketplace and investment platform, they enable farmer to sell their farm and farm produce. Investors can also invest in farm of his preferred choice.
It was founded in 2017 in Lagos
18) Agrikace
Agrikace debut as agric news and classified site. Farmer can list their farm with picture and can also transact on the platform. Agrikace act as escrow for each transaction.
It was founded in 2013
Conclusion
Above are the Agritech companies in Nigeria, if you go through it you will notice that most of them are investing tech, there are little companies that deal with production and processing which is bad because that is where the major problem lies.
Who knows you might also be planning to start your own Agritech startup, I will advise you to tackle the production problem, which is where money lies.
