Palo Alto, California – October 2024 Farmdar, a fast-growing agritech startup using AI and space technology to optimize farming, has successfully closed its pre-Series A funding round. The round was led by Moment Ventures, a prominent Silicon Valley-based venture capital firm, with additional support from existing investor Indus Valley Capital.
This marks the first Silicon Valley-led investment in a Pakistani startup this year, emphasizing Farmdar’s increasing impact in the agritech industry. The new funding will strengthen Farmdar’s leadership in Pakistan’s agricultural sector and support its expansion into crucial Southeast Asian markets.
Muhammed Bukhari, Co-founder of Farmdar, highlighted the urgency of addressing climate change in agriculture. “Our sector faces unparalleled challenges from climate change. This investment allows us to intensify our efforts in climate adaptation within Pakistan and accelerate growth in Southeast Asia’s vital agricultural markets.”
Launched in 2021, Farmdar has rapidly emerged as a global leader in precision agriculture, managing over 350 million acres of land and assisting more than 200,000 farmers in boosting productivity. Through its cutting-edge satellite technology, AI, and proprietary data, the company delivers actionable insights to agribusinesses, helping them enhance yields and sustainability.
Ammar Hanafi, Managing Director of Moment Ventures, expressed optimism about Farmdar’s future. “Farmdar’s innovative product, built with advanced satellite and AI technology, holds tremendous potential. We are thrilled to be part of their journey, particularly as they scale across Pakistan and Southeast Asia.”
About Farmdar Farmdar integrates AI and space technology to deliver data-driven insights that enhance productivity and sustainability for farmers and agribusinesses. The company serves global giants like Corteva Agriscience, Bayer | Crop Science, and Syngenta in seed and crop protection, alongside Engro Fertilizers Ltd and FFC in fertilizers, and over 20 food producers, including major sugar mills.
About Moment Ventures Based in Palo Alto, Moment Ventures is an early-stage venture capital firm focused on startups that transform traditional industries with innovative technology. The firm partners with companies that are reimagining business models across key sectors.
