Invest Inya Farmer (IIF) has announced the completion of its $1.1 million seed funding round, which was led by Investible alongside leading global agtech VC AgFunder and HNW investors.
What is the market offering of Invest Inya Farmer?
Invest Inya Farmer is on a mission to break down the barriers between the people who grow our food and everyday consumers. The Australia-based startup connects everyday Australians with the opportunity to invest fractionally in agriculture, without owning a farm.
Australia’s agricultural industry increased 59% in the last 20 years, growing to $90 billion in 2022 (according to the ABARES). But the sector faces a capital shortfall in excess of $159.5 billion if the trajectory is to continue, according to the Australian National Farmers’ Federation 2030 Roadmap. IIF gives farmers direct access to consumer-sourced capital to improve their cashflow, reduce production risk, and foster a unique connection with consumers.
The startup has undertaken share-farming programs in a wide variety of agricultural sectors including wheat in NSW, apricots in Cobram, shiraz wine grapes in VIC, angus steers in Tasmania, as well as beehives and oysters in several states. Within its innovative smartphone app, IIF members can browse and participate in a variety of share-farming opportunities.
As a user’s virtual farm grows, members can track holdings and through the app, farmers offer transparency around their farming practices and give regular updates on their produce.
With this fresh injection of capital, Invest Inya Farmer (IIF) will continue to build out the technological foundations to enable efficient scaling of both sides of its marketplace.
Why is the investment a timely one?
Investible Principal Jayden Basha said “IIF is an innovative solution which solves a real pain point for farmers, while helping educate consumers along the way. 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.”
“Every single one of us depends on agriculture and food supply everyday, and our 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. A dozen oysters, honey, apricots, ginger, beef. This isn’t a shopping list. It’s an investment portfolio,” said IIF Founder Nathan MacPhee.
“Already IIF has created hundreds of new farmers in the city and it’s only just the beginning. 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,” added Nathan MacPhee.