Co-farming Startup Fefifo Raises US$3.1m To Help Smallholder Farmers

Fefifo, a Southeast Asia focused Agtech startup, has closed a total of more than US$3.1 million in early-stage funding to empower smallholder farmers and agriculture graduates to kick-start their own modern commercial farming business easily, starting in Malaysia.

The most recent venture capital backers are Malaysia’s RHL Ventures and KB Investment from Korea, the appointed co-investment partners for Malaysia’s Dana Penjana Nasional by Penjana Kapital under the economic recovery plan.

Fefifo is pioneering digitalised, standardised farming in ready-to-farm modern farm spaces called Co-farms, think ‘cloud kitchens’ for farmers. Smallholder farmers, whom they call Agropreneurs, can start their own commercial farms in Co-farms easily by renting a ready-to-farm greenhouse or open farm space with managed farm services, accommodation, and other shared common facilities. Today RHL Ventures announced Fefifo as their latest investee company in the Agtech space.

It comes at an important time for the agriculture industry and is marked as a high priority essential business that contributes meaningfully to stronger food security for Malaysia,” says Raja Hamzah, Managing Partner at RHL.

“This new injection of funds will be used to double the scale of Fefifo’s pilot Co-farms in Perak, Malaysia, over the next 6 months, grow the operations and bring in key strategic hires for our licensing, technology and data engineering team, taking our self-operated Co-farms acreage to a total area of 10 acres of modern commercial farming operations,” says Kelveen Soh, Co-founder & CEO at Fefifo.

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