Jiye Technologies, a Pakistan-based agri-supply chain platform, has raised $2.5 million in a pre-seed fundraising round. Rabeel Warraich of Sarmayacar, Issa Aghabi of Access Bridge Ventures, Samih Toukan of Jabbar Internet Group, Ahmed El Hamawy of EquiTie, Charlie Graham-Brown of Seedstars, and a strategic angel army from MENAP, Europe, and North America participated in the round, making it the highest ever pre-seed funding in Pakistan’s agri-tech space.
To form the powerful three, the founders have strategic experience in traditional agri commerce, supply chain, and early-stage startup scaling. Jiye Technologies aims to change Pakistan’s agri-sector by building a lean supply chain ecosystem that gives farmers easy access to key markets and convenient sourcing to retailers.
Furthermore, the company has ambitious intentions to expedite its mission using fintech solutions, which will fuel financial inclusion and connect the vast section to the formal financial system.
Jiye Technologies is expanding to five major cities in Pakistan, making it the fastest-growing agri-supply chain platform in the country, after scaling more than 30x in only five months with a rapidly increasing team of 150+. They plan to expand into MENA in 2022 to take advantage of the $120 billion market.
Despite having the world’s fifth largest population and one of the world’s largest crop-able land areas, agriculture in Pakistan has grown at a meagre 2% YOY in the last decade, which appears to be a challenge yet an opportunity at the same time. The startup recognizes the great potential hidden within the sector, waiting to be disrupted.
Ali Amin, Jiye Technologies’ co-founder, comes from a family of agri marketplace traders. Ali has already played a key part in the founding and scaling of unicorns such as Careem and Swvl, in addition to agri trade, according to the company. He stated, “We’re driven by impact; we like to bring positive change in categories which impact the masses in Pakistan, hence, we chose to fix a phenomenon that touches almost 70% of the country’s population.
To read our blog on Pakistan’s largest pre-seed funding is raised by Krave Mart, click here.