Farmdar, a Karachi-based agritech firm, has won $1.3 million in seed funding, which is a significant success for Pakistan. This is good news because such firms have the potential to transform Pakistan’s agricultural industry.
Indus Valley Capital led the round, which included Deosai Ventures, Tricap Investments, United Distributors Pakistan Limited, The Community Fund VC, LMKR, and K2 Global Ventures, as well as key investors from Pakistan, the Middle East, and the United States.
Farmdar, which was founded in 2021 by Muhammed Bukhari, Muzaffar Manghi, and Ibrahim Bokhari, can assist farmers and companies in obtaining reliable and actionable data based on high-resolution multi-band satellite images.
Read more: “Oware,” a Pakistani startup, raises $3.3 million
To be clear, fertiliser misuse has a negative impact on food safety. When this is combined with erroneous yield projections and insufficient harvest monitoring, the result is inefficient. Farmdar seeks to use satellite pictures and data to help farmers overcome this challenge.
“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.