AgriTask
- LocationsAfrica, Asia, Latin America
- SectorAgriculture and Livelihoods
- Type of investmentEquity investment
- Project stageTest & Transition
AgriTask offers a Software as a Service (SaaS) platform to optimize decision making across the agriculture eco-system, serving Ag-companies seeking visibility of the farmers in their supply chains.
The development problem
Agricultural development is one of the most powerful tools to end extreme poverty, boost shared prosperity and feed a projected 9.7 billion global population by 2050. Growth in the agriculture sector is two to four times more effective in raising incomes among the poorest compared to other sectors. Analyses in 2016 found that 65% of poor working adults made a living through agriculture. Smallholder farmers face challenges related to a lack of access to finance, insurance and markets, adverse negative impacts from climate change and an agricultural knowledge gap. These culminate in smallholder farmers suffering from poor productivity and farm output.
The innovation
AgriTask offers a Software as a Service (SaaS) platform to optimize decision making across the agriculture eco-system, serving Ag-companies seeking visibility of the farmers in their supply chains.
GIF's investment
AgriTask will use GIF’s investment of $3 million to:
Deepen operations in their growth markets (Africa and Southeast Asia), continue to develop its platform and proprietary content which will leverage big data for market insights, expand its business development function and buildout on-the-ground partnerships.
Why we invested
- The platform lends itself well to scaling, which has already been demonstrated to date by expanding its presence in 35 countries over the past 6 years. AgriTask aims to reach 9 million smallholder farmers by 2026.
- AgriTask meets the themes of climate action, protection and nature regeneration and raising living standards of smallholder farmers.
- The investment provides diversification to GIF’s agriculture portfolio, whilst bringing complementarity (learnings and possible operational synergies) to GIF’s overall agriculture portfolio.
Theory of Change
Although smallholder farmers are not the direct clients of AgriTask, the products that meet the needs of the Ag-corporates and Ag-insurers are designed with the farmer at the core, and directly benefit
smallholder farmers through increased agricultural productivity and optimization of resource use, improved small-farms profitability and financial resilience, increased product traceability, increased access to contract farming and improved contract arrangements.
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