Philippine agri-fishing startup Mayani raises $1.7 million in round led by AgFunder

The Mayani team

Mayani, an agri-fishery startup providing sustainable market connectivity to smallholder farmers and fishermen in the Philippines, has secured $1.7 million in oversubscribed seed funding raised by Silicon Valley Agtech VC AgFunder through its GROW Impact Fund was anchored.

Atlas Ventures, Accelerating Asia Ventures, Ocean Impact Organization, TheVentures and Plug and Play Ventures also joined.

The Jimenez family (known for founding broadcasting giant GMA), the families behind Malaysian conglomerate OSK Group and Filipino retailer Abenson Group also attended.

This transaction marks AgFunder’s first investment in the Philippines.

Mayani’s technological stack was originally funded by grants from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA).

Also Read: Can Agritech Solve the World’s Growing Problem of Food Security?

Mayani began its supply chain operations in southern Luzon by focusing on fresh lowland produce such as lettuce and eggplant. Since then, it has expanded into various agricultural categories, including poultry, processed commodities like Liberica coffee, and high-value fruits like honeydew gold.

The startup currently sources crops directly from a grassroots network of over 139,000 smallholder farmers in five regions of the Philippines’ most populous and largest island, Luzon.

It then uses on-demand supply data to achieve efficiencies in a shorter route to market with fewer middlemen as they deliver fresh produce and even sustainably caught seafood to buyers. These buyers include B2B players such as international hotels and restaurants, food processors and supermarket chains such as WalterMart, Robinsons Group and MerryMart.

The resulting value chain creates cost savings for buyers and makes their supply chain more resilient and reliable.

On the other hand, farmer’s farm and post-caught incomes are increased by at least 30 percent, while food losses are reduced by 20 percent.

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Post-Philippine agrifishing startup Mayani raises $1.7M in AgFunder-led round first appearing on e27.