News in brief: Filipino startup Kita has secured $3 million in a seed round to digitalise the agriculture supply chain. Kita’s platform helps farmers access markets, manage inventory, and connect with buyers, with plans to expand its services, benefiting both farmers and consumers in the Philippines.
Kita, a Filipino startup, has raised $3 million in a seed round to digitalise the country’s agriculture supply chain, a news report says. The round was co-led by Gentree Fund and Altara Ventures.
The startup was founded in early 2021, according to its about page, with the aim of addressing the challenges faced by farmers in the Philippines. It provides solutions to problems like lack of access to markets and unfair product prices.
Kita currently sources fruits and vegetables upstream for direct sales to business clients in the local hospitality industry. Its digital platform provides farmers with access to a wider range of buyers, as well as tools to help them manage their inventory and finances.
Also, the startup’s platform is currently used by over 10,000 farmers and 200 buyers. The company plans to use the new funding to expand its platform to more farmers and buyers, as well as to develop new features and services.
The digitalisation of the Philippines’ agriculture supply chain is expected to benefit to farmers and consumers. Additionally, farmers will be able to earn higher incomes and reduced costs. Consumers, on the other hand, can benefit from lower prices and access to a wider range of fresh produce.
The Philippines is still in the early stages of digitising its agriculture sector. A news coverage on the Kita story quotes a Food and Agriculture Organization of the United Nations (FAO) 2020 study that says only about 10% of Filipino farmers are using digital technologies in their farming operations.
However, the government is making efforts to promote the adoption of digital agriculture technologies. In 2020, the Department of Agriculture (DA) launched the Philippine Digital Agriculture Program (PDAP) to increase the use of digital technologies in the agriculture sector.
The PDAP is focused on providing farmers with access to digital tools and platforms, it also includes training for farmers. A number of private companies are also developing and deploying digital agriculture solutions in the Philippines like Kita.
