VeGrow, a Pakistani automated vertical farming startup, has closed funding from Draper University Ventures. The funding round saw the participation of various investors from the AgriTech ecosystem.
VeGrow, a Pakistani automated vertical farming startup, has closed funding from Draper University Ventures. The funding round saw the participation of various investors from the AgriTech ecosystem.
The VeGrow team is composed of founder Waleed Arshad, a young entrepreneur who has been working on building and scaling AgriTech projects for the past seven years, and chief marketing officer Jasia Farooq, a young marketing professional working in Pakistan having experience across multiple industries, including Telecom, FinTech, and Food Retail.
Team VEGROW is looking to use this funding to go for their MVP and increase the pace of product development and build their supply chain. When asked about the size of the investment, founder Waleed Arshad said, “We can’t officially disclose the amount right now as we are busy building, and we want to keep that our main focus. We will disclose it six months from now.”
“Global hunger has not recovered since the 2020 COVID-19 pandemic, leaving as many as 828 million people hungry in 2021, according to the United Nations’ latest State of Food Security and Nutrition in the World report,” he added.
Waleed got selected for the Hero Training Program by Draper University earlier this year. Draper University was founded by the Legendary Venture Capitalist Tim Draper.
Vegrow, a vertical farming startup, is in the business of fresh fruits & vegetables with an addressable market size of $43 Billion. Vegrow is a tech platform partnering with farmers, aggregating supply and selling to organized demand through partnership. Vegrow simplifies farming and increases the land utilization for farmers. We are on a mission to build the world’s biggest asset-light farmer.
Vertical farming is the practice of growing produce in vertically stacked layers. The practice can use soil, hydroponic or aeroponic growing methods. Vertical farms attempt to produce food in challenging environments, like where arable land is rare or unavailable.
Originally published at Vertical Farm Daily