Zimbabwe News

Zimbabwe agritech marketplace startup receives US$100 000 in funding

FarmHut

Zimbabwe agritech marketplace startup FarmHut has received a US$100,000 seed funding prize from the Hult Prize Foundation. FarmHut offers services that help smallholder farmers increase their productivity and profitability by giving them the opportunity of placing their products on the market before the harvest is completed. This means farmers won’t waste their produce by moving it to the market when required.

FarmHut began in 2018, winning several innovation competitions locally and regionally. With agriculture as a key backbone of the Zimbabwe economy, many of the youth are developing interest in that economic sector.

The Hult Prize Foundation

Hult Prize Foundation transforms how the youth envision their own possibilities. The organization aims to create opportunities for young people through its million-dollar prize for startups. To date, the Hultz Prize Foundation has trained and graduated over two million alumni across 121 countries.

Hult Prize runs an accelerator programme that picks university students while offering them assistance for systems in place. FarmHut participated in their 2020 cohort and was one of the few chosen to receive seed funding and help in research and development.

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