Brunei-based agritech startup, Agrome IQ, has raised a six-figure Pre-Series A funding led by Singaporean venture capital firm Cerana Capital.
According to Borneo Bulletin Online, the announcement was made during the ‘Agrome IQ: Advancing Towards Agriculture 4.0’ event held at the Design & Technology Building in Anggerek Desa Technology Park.
Founded in 2017, Agrome IQ supports the digitization of farm management through its mobile app, and real-time support services. The startup offers data analytics to farmers to increase farm quality and productivity, acting as an agricultural business intelligence company. The second version of the app, scheduled to launch in two months, will enable community-driven decision making for farmers in the same geographic regions to source for farm inputs more efficiently via the app.
With the new investment from Cerana Capital, the company now can expand its team and reach out to 50 different distributors in Singapore that would buy farmers’ produce on their platform.
Agrome IQ aims to work closely with its partners to support feeding nine billion people by 2050. They are now beginning to increase their operations and product ranges while expanding their footprint in Brunei and Singapore before expanding across other Southeast Asian countries later this year.