Islamabad: Pakistan’s AI-based agritech startup Farmdar has successfully secured pre-Series A funding led by Silicon Valley’s Moment Ventures to enhance agricultural productivity, as reported on October 8.
As per details, existing investor Indus Valley Capital also participated in this round, marking a significant milestone as the first investment led by a Silicon Valley fund in a Pakistani startup this year. This new funding will enable Farmdar to solidify its leadership position in Pakistan while accelerating its expansion efforts across Southeast Asia. Co-founder Muhammed Bukhari highlighted the importance of this investment in addressing pressing agricultural challenges, stating, “Agriculture is facing unprecedented climate challenges. This investment allows us to further enhance climate adaptation in Pakistan and accelerate our growth in some of Southeast Asia’s vital agricultural markets.”
Since its inception in Pakistan in 2021, Farmdar has made remarkable progress, covering over 350 million acres globally and providing precision agriculture solutions to more than 200,000 farmers. This technology-driven approach aims to optimize farming practices and improve yields, contributing to food security and sustainability.
Ammar Hanafi, Managing Director of Moment Ventures, expressed enthusiasm for Farmdar’s innovative solutions, commenting, “Farmdar has built an exceptional product using satellite technology and proprietary data combined with AI. We see immense potential for its application not just in Pakistan but throughout Southeast Asia, and we are thrilled to be part of this transformative journey.”
