A Karachi-based agritech startup called Farmdar raised $1.3 million in seed funding. This is welcoming news as such startups can help revolutionize Pakistan’s agricultural sector.
According to the details, the round has been led by Indus Valley Capital with participation by strategic investors from Pakistan, the Middle East, and the US, including Deosai Ventures, Tricap Investments, United Distributors Pakistan Limited, The Community Fund VC, LMKR and K2 Global Ventures.
Founded in 2021 by Muhammed Bukhari, Muzaffar Manghi, and Ibrahim Bokhari, Farmdar can help farmers and businesses access accurate and actionable data based on high-resolution multi-band satellite imagery.
To clarify, food safety is adversely affected by the overuse of fertilizers. When this is combined with inaccurate yield estimates and inadequate harvest monitoring, the output is highly inefficient. Farmdar wants to help solve this problem for farmers using satellite imagery and data.
“Pakistan is amongst the top 10 producers in the world for essential crops such as sugarcane, wheat, and rice, yet in terms of yield, we rank 50th or below. It’s a massive yield gap. Farmdar is uniquely positioned to help increase yield and quality while reducing farming costs and minimizing waste,” claimed Muzaffar Manghi, one of the co-founders.