Wefarm adds $11M to expand its network for independent farmers

#News(Startup) [ via IoTGroup ]

But today comes news of funding for a startup building a social network for what is probably one of the least digital business sectors of all: independent small-hold farmers in the developing world. Wefarm a social networking platform aimed at independent farmers to help them meet each other exchange ideas and get advice and sell or trade equipment and supplies has raised $11 million funding to continue expanding its business which now has 2.5 million users. To put that number and the growth opportunity into some perspective Wefarm estimates there are some 400 million small-hold farmers globally with a large proportion of them in developing markets. Kenny Ewan Wefarm’s founder and CEO said this latest tranche of funding in part will be used to roll out an app (currently in beta) that will help it launch in more countries and pick up more farmers. Wefarm’s importance (and often singular presence) as a tool for independent farmers to communicate trade and generally network with others like them was already playing out before COVID-19. As for Wefarm as a business Ewan said that it essentially meant that the company’s country expansion plans had completely halted mainly because business development teams could no longer travel as they had before: another reason why launching an app could be a useful growth tool. (That lack of travel was also potentially helpful to Wefarm: despite that the company still managed to grow by 600 000 more users Ewan pointed out underscoring a clear demand for the service among its target audience.) “We now know more about small-scale farmers than anyone else because they talk to us.” Areas that Wefarm is considering to develop over the next two years are whether it can help provide more insight into more workable business models pricing models and more data on particular aspects like ripening periods. “By building a highly engaged community of millions of small-holder farmers Wefarm has created a powerful platform providing greater access

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