Pakistan’s B2B agriculture market, Tazaha Technologies, announced on Wednesday that it had raised $2 million in pre-seed funding.
The round was co-led by Global Founders Capital and Zayn Capital. Other co-investors included Ratio Ventures, Walled City Company, i2i Ventures, Soy Ventures, Globivest, Afropreneur Syndicate, +92 Ventures, Sunu Capital, Masha Investment and others.
Tazaha (meaning “fresh” in Urdu) is co-founded by Abrar Bajwa and Mohsin Zaka, who have previously held leadership positions in ride healing companies such as Careem and Swvl in Pakistan. “With the exposure of agriculture through their families. Abrar and Mohsin have seen the requirement and chance to influence the agricultural provide chain with a brand new perspective,” the company said in a statement.
The massive subscription during this period was attended by local business groups. Including Meezan Foods and notable angels including Careem and senior executives of Swvl .
Tazaha is an online marketplace that connects farmers and buyers, sells products and produces quality screens. Currently, regarding 300 small to medium-sized producers use the platform and selling 5 products: ginger, garlic, tomatoes, potatoes and onions.
“Pakistan’s Agriculture and Food Supply Network has a $60 billion chance. But it is highly ineffective and unworthy of its main stakeholders – farmers and businesses that sell and consume fresh produce. Extreme fragmentation of both demand, geographic displacement, and production disruption creates an imbalance of information and power, resulting in disastrous results for producers, businesses, and consumers. The loss of food causes inflation in food prices, which is why consumers spend about 33% of their income on food.
Tech-driven operating system
The startup’s mission is to transform agriculture in Pakistan. Improve the lives of producers, businesses and consumers through a tech-driven operating system for the agricultural and food value chain. By incorporating financing solutions in the near future. Speaking on the occasion, Abrar Bajwa said, “We are deeply affected by the complexity and impact of the problem we are trying to address. There is no doubt that we will soon create waves in space that will bring lasting benefits to producers, businesses and consumers.
According to Mohsin Zaka, “Properly deployed technology can solve problems that have existed for decades. We have seen first hand the problem of careem and urban mobility. The technology we are developing in Tazaha. It will have a huge impact on a sector of Pakistan that is in dire need of digitization and modernization.
Tazaha technology working on vegetables ,fruits and seeds
Since launching operations in Lahore just 2 months ago. Tazaha has already been shipping the production of several trucks a day. Selling about 300 small and medium-sized fruits and vegetables. The fresh customer retention and frequency is a testament to how the vertical marketplace has already struck the right note with its customers.
With this pre-seed funding, the startup aims to expand to other cities in Pakistan. Expand its product portfolio and lay the foundation for improved access to capital for farmers.
Tazaha aims to become the hub of the lives of farmers and businesses where they conduct most of their financial transactions on the Tazaha platform. Largely, the B2B marketplace will reduce food prices and waste, improve access to fresh products for all, and promote farmers’ social development.
Marshal Tito Costa, partner at global Founders Capital said. “We are excited to partner with the Tazaha team on a mission to remodel Pakistan’s agricultural provide chain”.
“The Tazah platform will unlock savings and create opportunities for farmers. Small businesses to eliminate existing failures and waste.”
Abrar and Mohsin have the right combination of scaling experience. Enthusiasm to tackle the problem of disproportionate prices in the fresh produce value chain. Faisal Aftab, co-founder and managing partner of Zayn Capital, said. It would empower new farmers, retailers and consumers with the discovery of a reasonable price.
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