UfarmX

UfarmX is transforming farming with an AgTech platform that connects smallholder farmers to commercial sales markets and supportive resources

Convertible Note   NG AgTech Seed
101 days left

$29,745
59% of the goal raised

32
Investors

$50,000
Target

25%
Discount

Join to Invest

Already registered? Log in

Highlights

  • 2,000 + Farmers & 12,000+ Acres on platform
  • Recognized by World Bank for expertise in providing traceability solutions in Liberia.
  • 300% Yield Output Increase for farmers
  • More than doubling of farmer revenues
  • Global Innovation Award Winner 2024
  • Digital Innovation Award Winner 2024
  • 100 Acre Organic Commercial Farm Established in Oyo State
  • Term Sheet received from UBA Bank in Senegal for 1 Billion CFA
  • Partnership with NBA's NGO on continent The Seed Project to provide employment in food production to youth
  • Listed on US Govt Agency Prosper Africa's Virtual Deal Room
  • Collaborated with Liberia's Ministry of Agriculture to provide automated advisory services to farmers
  • Casted for season 11 of Entrepreneur Elevator Pitch
  • 5 Accelerators including upcoming Techstars Chicago in September (confidential)

Convertible Note
Financial Instrument

$10
Minimum investment

$13,000,000
Valuation cap

October 24th, 2024
Deadline

Pitch

UfarmX is transforming farming with an AgTech platform that connects smallholder farmers to commercial sales markets and supportive resources that not only increase their productivity but also reduce their carbon emissions allowing for them to cash in on carbon credits.

PROBLEM AND SOLUTION

UfarmX addresses the challenges of small-scale underserved and often unseen African farmers who struggle with low productivity, limited market access, and financial exclusion. Currently over 90% of sub saharan farmers lack access to institutional finance, these farmers rely on traditional practices, informal markets, and non-institutional credit sources, often leading to inefficiencies and financial vulnerability.

Without our services, they face constraints in optimizing crop yields, securing fair pricing, and accessing capital for growth, which limits their economic potential and sustainability.

Our software and platform collect and aggregate farmer data to create individual profiles, allowing farmers to access AI-powered advisory services and receive commercial purchase orders, eliminating concerns about sales channels. This direct connection to supportive resources, such as inputs, local logistics companies, and post-harvest facilities, streamlines their operations. By providing tailored agricultural solutions, UfarmX provides farmers with access to their carbon credits due and automatically journals farmer progress and performance over time, creating a data-driven pathway that makes these farmers attractive, bankable, and investable. This approach enhances their productivity, income, and overall well-being through direct market access and financial services.

REVENUE/BUSINESS MODEL

UfarmX's business model is strategically designed to generate revenue through various channels that all remain secure and independent of farmer outcomes. Our primary revenue drivers include the number of farmers and land coverage on our platform, with increased scale directly boosting potential income. We earn a profit margin from the sale of agricultural inputs, a significant contributor to our revenue. Strategic partnerships, like those with insurance companies, further supplement our income, including commissions from insurance policies and produce sales. Crucially, the detailed data we collect and our portfolio record-keeping open opportunities for data monetization and transforming farmers into bankable entities. We're also developing a methodology to quantify and monetize carbon emission reductions achieved by farmers using our solutions, allowing them to sell carbon credits on open markets. This comprehensive approach positions UfarmX for sustainable growth and long-term success in the AgTech sector.

MARKET SIZE

There are roughly 600 million farmers on the continent of africa and the agriculture sector is projected to reach an annual valuation of $1.1 trillion by 2030.

MILESTONES

-2,000 + farmers
-12,000 + acres
-$400,000 + in revenue generated
-Presence in 3 different African countries

LONG TERM GOALS

Our medium term strategy is to extend our platform to a minimum of 12,000 farmers across 10 different African countries, where we project to generate a cumulative annual revenue of $190 million. This projection is based on the proven success of our pilots, which showcased the immense potential for
transformative impact within the agricultural sector. This expansion would not only drive unprecedented financial growth for farmers but also contribute significantly to the economic prosperity of the regions we serve while also bringing the company to unicorn status.

USE OF FUNDS

Funds will be used for working capital, capacity building, marketing and community engagement / farmer training programs.

Overview

Location: NG | @ufarmx |

Team



Alexander Zanders
CEO/Founder

Alexander's background in finance, coupled with his extensive experience in crypto and blockchain technology, positions him as a visionary leader for UfarmX. His deep dive into production-level farming in Nigeria since 2015 has equipped him with invaluable insights into the agricultural challenges and opportunities in Africa, guiding UfarmX’s strategic direction.



Andrea Kamara-Dunbar
COO/Co-Founder

As a two-time tech startup founder, Andrea's prowess in project management and software development is vital to UfarmX. Her experience in launching and leading female-focused farming initiatives in Liberia, supported by major international development agencies, underscores her capability in technology application in agriculture and commitment to sustainable development.



Uchenna Richard Amadi
CFO

Uchenna’s extensive experience as an accountant and business development manager, coupled with his PhD in Entrepreneurship, makes him an asset to UfarmX’s financial management and strategic planning. His background in banking brings financial discipline and innovative financial strategies to the table, ensuring sound financial management.



Segun Fagbami
Product Lead

2x Founder , 10+yrs experience in digital design.

Documents
Company documents

Pitch deck
Brand guide
Legal
© Figg Africa 2022. All right reserved