Start-up Invest Inya Farmer (IIF) has raised $1.1m in its seed funding round, led by Investible alongside global agtech VC AgFunder and HNW investors.
IIF aims to break down the barriers between the farmers/food growers and everyday consumers by providing everyday Australians with the opportunity to invest fractionally in agriculture without having to own a farm.
The Australian National Farmers’ Federation 2030 Roadmap reported previously that while Australia’s agricultural industry increased 59 per cent in the last 20 years, growing to $90 billion in 2022, the sector faces a capital shortfall of up to $159.5 billion if the trajectory is to continue, according to the Australian Bureau of Agricultural and Resource Economics and Sciences.
Through its services, the IIF provides farmers direct access to consumer-sourced capital to improve their cashflow, reduce production risk, and foster a unique connection with consumers. It will also continue to build out the technological foundations to enable efficient scaling of both sides of its marketplace.
“IIF is an innovative solution which solves a real pain point for farmers, while helping educate consumers along the way,” Investible Principal Jayden Basha said. “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.”
IIF Founder Nathan MacPhee pointed out that we all depend on agriculture and food supply every single day, and that his 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,” MacPhee averred. “A dozen oysters, honey, apricots, ginger, beef. This isn’t a shopping list, it’s an investment portfolio.”
The date IIF 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 a direct connection via the app, farmers provide transparency around their farming practices and share regular updates about their produce.
“Already IIF has created hundreds of new farmers in the city and it’s only just the beginning, “MacPhee said. “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.”
