FarmHut receives $USD100 000 Seed Capital Investment

FarmHut receives US$100 000 investment from the Hult Prize Foundation.

This follows through the Hult Prize accelerator program that they were a part of as the 2020 cohort.

FarmHut is an AI-powered marketplace Start-Up, that is connecting farmers to markets, paying fair prices for their produce, thus enabling farmers to grow their business fast throughout the year. On the other hand, it also ensures that consumers get fresh, local and sustainably grown food from small producers in their local area.

“This raise comes at a point when we are expanding on our product offering and user base. We target mostly remote farmers and this funding will go a long way to address this inclusivity gap.” Said FarmHut in a statement.

In a statement, The FarmHut Team announced the launch of its new user-friendly and easy to access platform that lets farmers sell directly to consumers. To add on, they will be launching a WhatsApp based Chabot, uMudhumeni that will address the connectivity challenge most farmers in Zimbabwe face. Farmers will now be able to sign up to the FarmHut platform, learn about farming, receive quotations and get the help of virtual agronomists.

The Chief Executive Officer and Co-founder, Ryan Katayi had this to say, “This investment is not just for FarmHut. It goes to all the farmers toiling every day to put a meal on the table. It sets the stage for us to take our revolutionary solution to the rest of the world.”

The team shares the same sentiments and extends their heartfelt gratitude to the Hult Prize for giving them a chance to disrupt the agricultural value chain in Zimbabwe and abroad.

“FarmHut remains committed to helping farmers from the production sector up to the distribution of their products preventing post-harvest losses.” The FarmHut team said, concluding their statement.