Jiye Technologies, a Pakistan-based agritech startup focused on supply chain solutions, has raised US$2.5 million in a pre-seed round.
The fundraise saw participation from Sarmayacar founder Rabeel Warraich, Access Bridge Ventures founder Issa Aghabi, Jabbar Internet Group chairman Samih Toukan, and other angel investors.
Team Jiye / Photo credit: Jiye Technologies
The startup also said that the fundraise is the largest pre-seed round seen in Pakistan’s agritech industry.
Jiye is looking to disrupt the country’s agritech space by giving farmers easier access to markets and sourcing to retailers through a lean supply chain ecosystem. The company highlighted that Pakistan’s agriculture sector has grown at a mere 2% rate year-over-year in the last decade, despite having one of the highest cultivable lands in the world.
The agritech firm was founded earlier this year by Ali Amin, Osama Salman, and Ahmed Bilal Afzal.
The company said it is expanding its operations to five major cities in Pakistan. It also plans to roll out the platform in the West Asia and North Africa regions next year.
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Editing by Samreen Ahmad and Lorenzo Kyle Subido
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