Athens-based Wikifarmer, the direct farmer-to-business agricultural marketplace, has raised €5 million in seed funding led by Point Nine. The company aims to digitize transactions end-to-end and offer innovative financial and logistic solutions to buyers and sellers in the agriculture sector. With the funding, Wikifarmer plans to expand across Europe and support farmers from start to finish. The platform has been referred to as the “Wikipedia of farming” and has increased farmers’ profitability by up to 300%. The company aims to become Europe’s leading B2B trading platform within the next two years and democratize agriculture by offering farmers a fairer value chain.
The Athens-based startup, Wikifarmer, has raised €5 million in a late seed funding round led by Point Nine. The direct farmer-to-business agricultural marketplace aims to support farmers from start to finish and has been referred to as the “Wikipedia of farming.”. The company will use the funding to expand across Europe and enhance its platform to digitize transactions end-to-end. The goal is to offer innovative financial and logistic solutions to buyers and sellers in the agriculture sector.
Wikifarmer provides farmers with the value they deserve. By producing more efficiently and selling directly, farmers have seen an increase in profitability by up to 300%. In addition, the platform acts as a purchasing assistant for B2B buyers, such as wholesalers, hotels, restaurant chains, and retailers, providing hassle-free sourcing, price negotiation, logistics support, transaction transparency, and up to 90 days of credit.
The company’s CEO, Ilias Sousis, said the funding would accelerate product development and offer 360° coverage of agricultural transactions. Wikifarmer’s vision is to restructure the supply chain, digitize processes, and generate more value for all parties, to become Europe’s leading B2B trading platform within the next two years.
The agri-food industry generates a turnover of 1.2 trillion euros in Europe alone, making it the no.1 employer worldwide. Yet, despite its significance, the sector remains one of the least digitized. Wikifarmer aims to reshape agriculture by offering farmers a fairer, more transparent, and sustainable value chain in the food industry. Farmers can sell their output to multiple buyers, achieve a better price, monitor reasonable market prices, and international access markets, all while having access to a library of agricultural best practices and how-to guides.
Point Nine, a B2B SaaS, and B2B marketplace-specialized VC firm with a history of successful investments, sees B2B marketplaces as a core area of focus and is excited to play a role in Wikifarmer’s long-term success.
Wikifarmer is addressing the need for new technologies and ideas in the agriculture sector and aims to impact the industry positively. The latest round of funding will help the company to achieve its vision of democratizing agriculture and supporting farmers in modernizing their techniques, selling their products, and earning the value they deserve.
Image provided by Wikifarmer