In July, EZ Farming a Nigerian agritech startup was announced as one of the startups participating in the 25th cohort of 500 Startups Accelerator program which was held in San Francisco, California.
EZ-Farming which was founded by Adewale Oparinde has now received $150,000 investment from 500 Startups for participating in the accelerator program in exchange for 6% equity.
EZ Farming is a modern agritech investment company connecting investors and commercial farmers with ease.
The agritech startup links investors around the world with local African farmers to provide a platform for everyone to invest and earn great returns from commercial farming.
Oparinde said the selection by 500 Startups and the resultant funding had encouraged EZ Farming to continue to innovate and get more people on board in its mission to build the biggest agricultural micro-lending platform in Africa.
“We have recorded a few milestones based on the targets we set for ourselves. The reception by people across the world has also been encouraging. We have a lot of people investing from the diaspora, and these include both Africans and non-Africans,” he said.
“This has really enhanced our confidence as we pursue our goal to attract one percent of African remittances into agriculture annually, and provide 29,000 jobs.”
EZ Farming, already operational in Ghana and Sierra Leone, is expanding into other areas of agriculture such as urban farming. It is currently in discussions regarding launching in a host of other markets.
“We have secured over 20,000 acres in land partnerships. At the same time, we are working on partnership agreements with a number of institutions of higher learning.
“With this, we intend to take our commercial farming internship programs to the universities so that students can learn the ropes of commercial agriculture first-hand on campus.”
500 Startups is an accelerator program for early-stage companies that invests $150,000 in participating companies in exchange for 6% equity.
