Start-up Invest Inya Farmer set to democratise investment in agriculture
Start-up Invest Inya Farmer (IIF) has raised $1.1 million in seed fundraising lead by Investible, with participation from global agtech VC AgFunder and HNW investors.
IIF intends to break down barriers between farmers/food growers and everyday consumers by allowing ordinary Australians to invest fractionally in agriculture without owning a farm.
According to the Australian Bureau of Agriculture and Resource Economics and Sciences, while Australia's agricultural industry has grown by 59% in the last 20 years, reaching $90 billion in 2022, the sector faces a capital gap of up to $159.5 billion if the current trend continues.
The IIF gives farmers with direct access to consumer-sourced finance through its services, allowing them to enhance their cashflow, decrease production risk, and establish a unique connection with customers. It will also continue to lay the technology groundwork for effective scaling on both sides of its marketplace.
“IIF is an innovative solution which solves a real pain point for farmers, while helping educate consumers along the way,” Investible Principal Jayden Basha said. “Nathan and his team are tapping into a huge market of people seeking a stronger connection with what they eat. By directly backing farmers with the upside of earning tangible returns, it’s profit with purpose.”
IIF Founder Nathan MacPhee pointed out that we all depend on agriculture and food supply every single day, and that his world-first approach to investing in agriculture allows everyday people to invest in the industry. “IIF’s vision is to put a farm in every pocket,” MacPhee averred. “A dozen oysters, honey, apricots, ginger, beef. This isn’t a shopping list, it’s an investment portfolio.”
The occasion IIF has run share-farming schemes in a range of agricultural sectors, including wheat in New South Wales, apricots in Cobram, shiraz wine grapes in Victoria, angus steers in Tasmania, and beehives and oysters in various states. IIF members can view and participate in a range of share-farming options using its revolutionary smartphone app. Members may follow holdings as a user's virtual farm expands, and farmers provide transparency around their farming practises and share regular updates about their produce via a direct connection via the app.
“Already IIF has created hundreds of new farmers in the city and it’s only just the beginning, “MacPhee said. “It’s an exciting time to be a part of the journey as we leverage our foundations to exponentially scale, and we are thrilled to have Investible on board.”
Source: Inside Small Business