Nama Ventures invests in Pakistan’s AgriDunya
- Saudi Arabia-based VC Nama Ventures, has invested an undisclosed amount in Pakistan-based agritech AgriDunya’s pre-Seed round.
- Founded in 2021 by Ameet Tarbani, Faiq Hasnain and Rahul Dembani, AgriDunya is a B2B marketplace for agricultural supplies, where farmers can order directly from manufacturers.
AgriDunya, an Agri-tech B2B platform specialising in Agri-Input sourcing & supply to farms and farmers in Pakistan, announced that it has raised an undisclosed amount in pre-Seed funding round by Nama Ventures.
Pakistan's agriculture sector plays a central role in the country’s economy as it contributes around 20 per cent to GDP and absorbs ~ 42 per cent of the labour force of the country.
Agriculture’s allied sectors are numerous and have a strong impact on the country’s GDP and growth.
In the whole, Pakistan’s Agri Sector is valued at over $60 billion among which $4 billion is attributed to farm inputs (fertiliser, chemicals, micronutrients, machinery etc.). Historically Agri Input’s market remains to be the supplier's market which not only frequently faces artificial price hikes but also supply constraints to the users.
Consequently, since farmers and landowners across the country are not accustomed to the modern farming knowledge base as well as a differentiation / effective utilisation of Agri Inputs materials (as per crop optimum requirements), this further deepens the impact the situation of Agri Input market has on the overall Agriculture economy; with a platform to source and supply the right products as well a dedicated knowledge enhancement drive as part of its platform - AgriDunya resolves to solve these challenges for Pakistan.
AgriDunya was co-founded in September 2021 by Ameet, Rahul & Faiq.
Ameet, the COO, comes with generations of fa4ming experience and more than a decade’s farm input supply chain management experience.
Rahul, the CTO, not only belongs to the conventional farmer’s family but also has a masters in IT and has been an application developer with over seven years of experience.
Faiq, the CEO, has over 10 years of corporate management and startup management experience – with a rich commercial and operational experience he has worked on leading large teams and working on multiple startups for corporate conglomerates in different functional and management roles.
We see a clear need for transformation of the Agri sector in Pakistan; we aim to make our contribution to a semi-formal market by using technology as a disruption that will ultimately improve the Agri sector in the country.
“AgriDunya represents our third investment in Pakistan at the pre-seed stage and the first Agri-tech startup that we invest in” Said Mohammad Alzubi, Founder and Managing Partner of Nama Ventures, “We were really impressed by the deep knowledge and the domain expertise the team has in the Agri-tech space, and more particularly in the B2B supply chain of farming,” added Mohammed, “The AgriDunya team of has all the complementary skillsets and elements to meet the needs of Pakistani farmers and beyond. We are truly thrilled to back this amazing team.”