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Farmcrowdy Closes on Additional Seed Funding of $1 Million
Farmcrowdy, Nigeria’s first and leading digital agriculture platform which allows Nigerians to invest in agriculture, has announced that it has closed on additional seed funding of $1 million.
This follows on from the company’s initial investments of $1 million in 2017. International investors Cox Enterprises and Techstars, along with local investor Ajayi Solutions have participated in the round as the startup prepares for an upcoming Series A fundraise later in 2019.
Farmcrowdy will use the investment to continue building their award-winning model, whilst expanding across Nigeria to cover 50% of all 36 states in the country over the next 12 months.
Today, the company has also announced the launch of the Farmcrowdy Group, which will support the startup’s mandate of building agritech solutions that enable the achievement of food security on the continent of Africa.
Pioneers of digital agriculture in Nigeria since 2016 and with a team of 50, Farmcrowdy has empowered over 12,000 farmers across 14 states in the Nigeria, reared close to 2,000,000 broiler birds as part of its poultry farm cycles and cultivated over 16,000 acres of farmland with over 35,000 farm units sold to date.
With farm sponsors in Nigeria and across the diaspora, Farmcrowdy is effectively growing a community model that is set to continue the empowerment of local farmers and facilitate food production in Nigeria and eventually across Africa.
Onyeka Akumah, Founder and CEO of Farmcrowdy says “Today’s announcement of this additional funding, marks another milestone for us as we amplify our presence in the country and explore new opportunities. We are delving into the possibility of utilising drone services for field analysis, improving our farmers yield with additional research and 3D mapping, as well as entering into formidable strategic partnerships that will grow the impact of our work.
“We’re continually grateful that we have a group of investors who share and support our vision as much as we do. It is a great source of motivation for the entire team as we look to the next phase of growth as a company.”
In a bid to improve the management of Farmcrowdy’s farmers and farm operations, the startup has also launched the Farmcrowdy TFS App, available to its Technical Field Specialists that will aid in better profiling farmers, managing inventory, as well as data collection and analysis from existing farmers.
According to Cody Simms, a Partner at Techstars who did a follow-on investment in this round of funding after their previous investment, said, “Techstars has been deeply impressed by Farmcrowdy’s mission to end poverty in Africa one farmer at a time since we first invested in the company in 2017 as part of Techstars Atlanta in partnership with Cox Enterprises. We are excited about the continued growth of the Farmcrowdy platform and thrilled to continue our support of the business with the most recent financing.”
For almost two and a half years, Farmcrowdy continues to inspire a renewed interest in farming across generations. In order to better serve the startup’s existing farm sponsors and attract new sponsors to the platform, the startup is in the process of upgrading the Farmcrowdy app to optimise user experience which currently has 90,000+ users and farm followers.
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Chain Reactions Africa Claims Three Awards
Chain Reactions Africa, one of Africa’s leading public relations and integrated communications consultancies, continued its awards-winning streak in 2024 by clinching three more prestigious awards in the recently hosted Lagos PR Industry Gala & Awards (LaPRIGA) 2024, which was held in Lagos.
Chain Reactions Africa emerged as winner of the ‘Public Sector PR Campaign of the Year’ for the firm’s Windfall Tax Policy Campaign for the Federal Inland Revenue Service (FIRS).
The campaign was aimed at first, sensitising the Nigerian public about the Windfall Tax Policy and then, securing the compliance of key stakeholders for the policy.
The same campaign also clinched the ‘Best in Crisis Management’ award, off the back of its use of strategic communication to manage and avert the crisis that would have been precipitated by the enforcement of the Windfall Tax by the FIRS.
The highpoint of the day for the company was the crowning of its Managing Director and Chief Strategist, Mr. Israel Jaiye Opayemi, as the ‘Most Influential PR Professional’ for his exceptional professional persona, charismatic industry leadership, enviable profile, and commitment to the growth of the Public Relations industry.
Commenting on the LaPRIGA Awards recognitions, the Managing Director and Chief Strategist of Chain Reactions Africa, Mr. Israel Jaiye Opayemi, expressed appreciation for the honours.
“Once again, I say a big thank you to the awards organisers, the Lagos State Chapter of NIPR, for raising the bar in organising this award to celebrate hard work and honour the resilience of deserving winners”, he said.
Opayemi charged the winners and all practitioners to drive better storytelling of their organisations and clients. “Let’s be the best. We are Public Relations people, let’s tell the stories of our respective organisations and clients better than ever before”.
He acknowledged the invaluable contributions of his team to Chain Reactions Africa’s unceasing accomplishments, describing them as the real shining stars of these honours.
“These award recognitions are emphatically dedicated to all the creative rebels in the Chain Reactions Africa Tribe. You are truly the shining stars spurring these honours, and there wouldn’t be a Chain Reactions Africa without my team. Your unwavering commitment to client satisfaction and sacrifices are matchless; you are the reason we are not just winning, but also breaking more boundaries of excellence”, Opayemi said.
Speaking at the event, the Chairman, Nigeria Institute of Public Relations (NIPR Lagos Chapter), Comfort Obot Nwankwo, congratulated all the winners for their recognition as shining stars and urged them to be an inspiration to others while sustaining the momentum of success, character, and bravery.
“As we honour our shining stars tonight, let us reflect on our collective responsibilities and use our influence to advance inclusivity and sustainability in Public Relations.
I challenge each of you to champion youth involvement, prioritise community breeding narratives and uphold highest standards of integrity in all that you do. I congratulate all nominees and winners tonight – may your success serve as an inspiration to others”, she said.
Themed, ‘The Shining Stars’, the 9th edition of LaPRIGA Awards expectedly turned out to be a resplendent and colourful get-together of the who-is-who in the integrated marketing communications industry with stakeholders drawn from the corporate, private, and public sectors.
According to the Chairman of the Selection Committee, Lead Consultant/CEO, Leap Communications, and Publisher of Breezy News, Muyiwa Akintunde, the ceremony had 22 award categories, and 81 entries were submitted in 21 categories, with the ‘Best in Political Communication’ not having any submission for this year’s edition.
Others are ‘Special Honorary Awards’ and ‘Lifetime Achievements Award for select public relations industry veterans.
With three awards, Chain Reactions Africa has once again shown its unparalleled dominance in the marketing communications industry.
Earlier in 2024, the company reached an unprecedented height by winning seven awards at the 2024 SABRE Awards. It also emerged winner of the Edge Awards 2024 most coveted prize, ‘Outstanding PR Agency of the Year’, with its MD/ Chief Strategist, Opayemi, carting away the ‘Edge Grand Prix in PR’, Edge Awards’ most enviable and highest individual awards category.
The company, with offices in both Lagos and Abuja, won four deserving honours at the 2024 Brandcom Awards, including the ‘Most Outstanding PR Agency of the Year’; ‘Most Outstanding Agency in Political and Public Sector PR’, and ‘Strategic Communication Consultancy of the Year’. Its MD/ Chief Strategist also won the ‘CEO of the Year (Public Relations) category for his sound leadership qualities and desirable profile.
LaPRIGA is a high-profile award that recognises excellence and celebrates practitioners in public and corporate organisations as well as stakeholders to boost professionalism and more investment in the practice of public relations.
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Mastercard, MTN, and Arifu Launch Digital Skills Program for African Small Businesses
Mastercard Center for Inclusive Growth, MTN Group Fintech and Arifu have partnered to support about one million small businesses in Cote’ D’Ivoire and Uganda, to digitize their operations, increase the use of digital financial services and access digital marketplaces through the MoMo Coach chatbot.
This program, part of the Center’s global Mastercard Strive initiative, aims to enhance the resilience and growth of small businesses by providing essential digital skills. It is one of the ways Mastercard Strive has disseminated chatbot-ready business building content for small businesses in the region, which is currently also available in Kenya and Nigeria.
Small businesses in sub-Saharan Africa, especially those impacted by the pandemic, have faced significant barriers in adopting digital tools. As of December 2022, only 27.65% of businesses in sub-Saharan Africa had adopted digital tools to enhance their efficiency, showing a slight improvement from 19.44% in August 2020. A lack of relevant skills continues to limit their growth and access to essential financial services. MoMo Coach addresses these gaps by providing free, accessible upskilling content via popular messaging platforms.
Supported by the Mastercard Center for Inclusive Growth and delivered by Caribou Digital, this program equips small businesses with digital skills, enabling them to adopt digital tools, access capital, and engage more effectively in digital marketplaces. The program aligns with Mastercard Strive’s broader goal of reaching 18 million small businesses around the world to go digital, get capital, and access networks and know-how.
“Small businesses are vital to Africa’s growth and create opportunities for a more resilient and inclusive regional economy. We are delighted to catalyze a partnership between MTN Group Fintech and Arifu to equip almost one million small business owners with the digital skills and knowledge essential for thriving in an increasingly digital economy, setting them up for success.” said Subhashini Chandran, Senior Vice President of Social Impact for Asia Pacific, Europe, Middle East and Africa
The MoMo Coach solution, powered by Arifu’s Grasp Platform, uses mobile messaging to deliver micro-learning experiences. It is accessible across multiple channels, including WhatsApp, Telegram, Facebook Messenger, SMS and MoMo. This gives small business owners and entrepreneurs flexibility in accessing practical, actionable tips to unlock growth opportunities in the digital economy.
Serigne Dioum, CEO of MTN Group Fintech, further adds: “Empowering small businesses with digital skills is key to driving inclusive growth in Africa. Through MoMo Coach, we are unlocking opportunities for entrepreneurs to thrive in the digital economy, strengthening communities, and shaping the future of business across the continent.”
The program has been rolled out in Côte d’Ivoire and Uganda, reaching over 930,000 MTN customers, merchants, and agents, with more than 75,000 small business owners accessing free digital courses and over 45,000 actively engaging with MoMo Coach. Courses offered include “How to Start Your Business,” “Money Management,” and “Grow and Secure Your Business.” These courses are based on insights derived from MoMo merchants and agents, and they address key challenges like affordability and access to relevant business knowledge—enabling small business owners to navigate the digital landscape.
Aminata, a 31-year-old business owner from Gôh-Djiboua, Côte d’Ivoire, is one of the many beneficiaries of MoMo Coach. Selling shoes and clothing since 2022, she says: “There’s a lot of competition, but MoMo Coach helps me sell better. Before, I used all my profits to buy new stock, which left me using my capital for expenses. Now, I split my profits: one part for business growth, another for expenses, and some savings for other projects.” She has also started using WhatsApp to increase her sales, noting: “My income has increased. When I post my goods, I sell more.”
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Stellantis and Zeta Energy Announce Joint Development of Lithium-Sulfur Batteries
Stellantis N.V. and Zeta Energy Corp. announced a joint development agreement aimed at advancing battery cell technology for electric vehicle applications.
The partnership aims to develop lithium-sulfur EV batteries with game-changing gravimetric energy density while achieving a volumetric energy density comparable to today’s lithium-ion technology.
For customers, this means potentially a significantly lighter battery pack with the same usable energy as contemporary lithium-ion batteries, enabling greater range, improved handling and enhanced performance.
Additionally, the technology has the potential to improve fast-charging speed by up to 50%, making EV ownership even more convenient.
Lithium-sulfur batteries are expected to cost less than half the price per kWh of current lithium-ion batteries.
“Our collaboration with Zeta Energy is another step in helping advance our electrification strategy as we work to deliver clean, safe and affordable vehicles,” said Ned Curic, Stellantis Chief Engineering and Technology Officer.
“Groundbreaking battery technologies like lithium-sulfur can support Stellantis’ commitment to carbon neutrality by 2038 while ensuring our customers enjoy optimal range, performance and affordability.”
“We are very excited to be working with Stellantis on this project,” said Tom Pilette, CEO of Zeta Energy.
“The combination of Zeta Energy’s lithium-sulfur battery technology with Stellantis’ unrivaled expertise in innovation, global manufacturing and distribution can dramatically improve the performance and cost profile of electric vehicles while increasing the supply chain resiliency for batteries and EVs.”
The batteries will be produced using waste materials and methane, with significantly lower CO2 emissions than any existing battery technology.
Zeta Energy battery technology is intended to be manufacturable within existing gigafactory technology and would leverage a short, entirely domestic supply chain in Europe or North America.
The collaboration includes both pre-production development and planning for future production. Upon completion of the project, the batteries are targeted to power Stellantis electric vehicles by 2030.
Lithium-sulfur battery technology delivers higher performance at a lower cost compared to traditional lithium-ion batteries. Sulfur, being widely available and cost-effective, reduces both production expenses and supply-chain risk.
Zeta Energy’s lithium-sulfur batteries utilize waste materials, methane and unrefined sulfur, a byproduct from various industries, and do not require cobalt, graphite, manganese or nickel.
Developing high-performing and affordable EVs is a key pillar of Stellantis’ Dare Forward 2030 strategic plan, which includes offering more than 75 battery electric vehicle models.
Stellantis is employing a dual-chemistry approach to serve all customers and exploring innovative battery cell and pack technologies.
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