Agritech startup Crop2Cash, which connects farmers with capital and markets, has emerged winner of the Nigerian leg of the global early-stage startup competition, Seedstars, for 2019.
11 startups were selected to pitch their ideas at the 2019 event. The startups selected to pitch were capped based on certain criteria: they had to have launched less than 2 years ago, received less than $500 in funding and gained traction. They all converged at the newly launched Seedspace GrowthLabs in Lagos, where Crop2Cash edged the 10 other startups to win the ticket.
Launched in 2018, the Ibadan-based startup helps farmers to completely manage the end-to-end of their supply chain, connecting them to industries and suppliers. The startup also has a digital banking service that allows farmers to operate bank accounts with USSD codes and mobile apps. Its founders are Micheal Ogundare, Emem Essien and Seyi Alabi.
The startup, in September 2018, emerged winner of the Wennovation Hub Agri-Tech Incubation Startup Demo Day taking home the prize of $3,500.
Now, as the winner of the Lagos pitch competition, Crop2Cash gets to represent Nigeria at the Africa regional summit. If it wins this, it gets to go on to pitch at the Seedstars Global Summit in Switzerland and stands a chance to win $500,000 in equity funding as well as other prizes.
This will see it become the second Nigerian startup to win the prize following SimplePay in 2013.
Crop2Cash also stands the chance to join the top 10 startups in the exclusive Seedstars Growth Program – a 14-week accelerator programme that promises $50,000 investment and an opportunity for more funding.
Asides Crop2Cash, Medical Startup Doctoora, and e-commerce platform, Traders of Africa came second and third place respectively.
Other startups that pitched at the event include: Foodlocker – an e-commerce platform for agro-products; Lucy.ng: a merchandise branding platform; Asusu – a microfinance platform for the unbanked; Pronob – a software-as-a-service startup; publishing platform Publiseer; Edtech solution for the underprivileged, Edusko; and ecommerce platforms, Alerzo and One Kiosk Africa.