Nestrom, an agricultural technology startup based out of Amman, Jordan, has announced that it has raised seed funding from a bunch of companies such as Propeller Inc., 500 Startups, Wamda Capital, Agrimatico, and angel investors. The details of the deal have not been disclosed. The startup had previously raised pre-seed investment, from Propeller, when it went through their acceleration program last year.
Founded in 2017 by Yousef Wadi, Kanaan Manasrah and Shadi Al Shalabi Nestrom has developed different products to help farm managers digitize their operations. The startup has a vision to convert traditional agriculture to “factory-like” highly efficient and controlled operations with its suite of SaaS and IIoT (Industrial IOT) products. In simple words, as Nestrom like to put it, they want to transform farms into smart farms.
This suite of products includes Farm Management Software that allows farm managers to report and track information of each field within the farm, Workforce Management System that helps track open field workers movement and time spent in areas by utilizing low-end Android devices to track movement and type of activity, and Online Connected Sensors, its IoT standard sensor system that is capable of online remote connectivity and alerting whenever the set parameters are sensed, so farm managers can access information online from anywhere in the world.
According to Yousef Wadi, the founder and CEO of Nestromthe agricultural space is usually neglected when it comes to enabling technologies but is of high importance as food demand and world’s population grow. “We are happy to secure our early investment post acceleration and investment by Propeller which provided product and strategic support to go from ideation to market within only a year”
“Our new round also involves strategic investments from Agrimatico and angels who are major players in agriculture which highly validates the value Nestorm has provided so far,” Wadi explained.
Nestrom’s products are available throughout the EMEA region and are currently being used by some of the big names in agriculture sector in Saudi and Jordan. The startup aims to use this investment to further develop their products and get into structured sales with focus on top agriculture producing countries in EMEA and beyond, including Egypt and Saudi.