Bangladesh-based agritech startup, Agroshift, has raised US$1.8 million in the largest pre-seed round in the country.
Investors: The pre-seed round was co-led by UAE-based Shorooq Partners and New York-based early-stage venture capital firm Anchorless Bangladesh. The round also saw participation from Ratio Ventures, Sketchnote Partners, and Demand Curve co-founder Julian Shapiro.
“We’re excited to back the Agroshift in their vision to serve millions of people working in the agri and textile sectors across Bangladesh. Agroshift’s customers are the driving force behind these sizable economic sectors and we are humbled to support the team’s ambition to cater to their daily needs by offering affordable and convenient means to procure high-quality food and agri products” says Omer Zabit, principal at Shorooq Partners.
What is Agroshift? Agroshift is a B2B agri-marketplace that connects farmers to businesses. Founded in March 2022 by Qazi Bouland, Rameez Hoque, and Diptha Saha, Agroshift aims to transform Bangladesh’s agricultural supply chain. Agriculture is Bangladesh’s largest economic and employment sector, accounting for 13 percent of its gross domestic product.
Dhaka-based Agroshift is an agricultural supply chain platform that enables businesses to source directly from farmers, improving the lives of farmers, small businesses, and consumers. The startup says its mission is to “transform the agricultural value chain through which farmers will get better yields and fair prices; consumers will get fresher and safer produce.”
“Agroshift’s micro logistics model is the most effective that we have seen in helping drive value for both producers and consumers-especially those in one of the country’s most valuable sectors: the garment industry. While Bangladesh has already built a significant role in international supply chains, we also see tremendous opportunities in domestic supply chain optimization,” said Rahat Ahmed, founding partner and CEO at Anchorless Bangladesh, one of the lead investors in the agritech startup.