Suminter works with 50,000 farmers across Africa and Asia to source its products, which are then sold in 20 countries.
ImpactAlpha, October 10 – California-based Centaur’s funding round was led by seed-stage tech investor Athens, Greece-based Marathon Venture Capital, which specializes in early-stage investments for IoT companies. Centaur uses data science and sensors to track and monitor the conditions in which crops are stored post-harvest. The company’s goal is to improve global food quality and reduce
- The funding round comes at a time when startups and lending institutions are successfully raising capital to help India’s small farmers establish market linkages and secure loans to buy agricultural supplies and equipment.
- Advancements in tech, data and computer modeling are eliminating the costs of in-person farm visits by shifting to index-based products based on weather, satellite and area-yield data.
- The Cairo-based agtech company is trying to boost farmer incomes, cut unnecessary costs, and improve the environmental footprint of Egypt’s agricultural markets.
- The platform will pool investment capital from investors, philanthropic organizations, universities and industry for "breakthrough solutions that create the new soil operating system."
- The blockchain-based tech venture is the latest in a growing “food transparency” startup ecosystem to raise funding.