Winich Farms, a Nigerian Agritech startup dedicated to streamlining agricultural processes for stakeholders in the agro sector, has successfully raised $3 million in its recent pre-Series A funding round. The funding will be directed toward enhancing the company's technology and optimizing operations across its growing platform. The funding includes a $2.5 million equity investment from a diverse group of investors, including Acumen Resilient Agriculture Fund, Climate Resilient Africa Fund, Marula Square, Plug and Play, and Tekidia Capital, along with a $590,000 debt facility provided by Sahel Capital based in Lagos. Since its inception in 2020, Winich Farms has built a thriving ecosystem of over 150,000 users, including farmers and collection point agents. The company’s Gross Merchandise Volume (GMV) has soared by 300%, growing from $10 million in 2022 to $30 million by the close of 2023. Winich Farms simplifies the process for farmers to sell their produce via its inventory management system, eliminating reliance on middlemen and the constraints of traditional market days. Off-takers can manage their inventory remotely, streamlining trade between farmers and buyers. Richies Attai, CEO and co-founder of Winich Farms, expressed that the company’s mission goes beyond profit—it seeks to empower smallholder farmers and other players in the agro value chain. Attai highlighted that the new funding will accelerate technological upgrades and further support farmers’ access to financial services, boosting productivity and expansion. “For us at Winich Farms, the mission is to enhance the lives of smallholder farmers, informal processors, and retailers—those who put food on our tables daily yet remain marginalized. This funding enables us to enhance our technology infrastructure, making it more user-friendly, while scaling operations and expanding access to financial services, such as credit and insurance, that are vital for improving productivity,” said Attai.
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