Farmster

Company Overview

Snapshot

Founded in October 2017 by Adam Abramson, Farmster operates with 1–10 employees. The company has raised $130K across one funding round and received a grant from the Israel Innovation Authority in March 2019.

Business overview

Farmster operates a digital produce marketplace within the Agriculture & Food Technologies sector, specifically focusing on Ag Tech and Food Tech. The company's core technology is an AI-driven SMS chatbot that enables farmers without internet access to publish information about their harvests. Buyers can then use the Farmster app to search for produce and connect with farmers, serving markets in Kenya and facilitating B2B and B2C transactions in the supply chain for agricultural products.

Strategic signal

Farmster ceased operations in April 2022, indicating a significant strategic shift or market challenge that led to the discontinuation of its online marketplace for farm produce and inputs. This sends a signal to investors about the inherent risks and competitive pressures within the Ag Tech and Food Tech sectors, particularly for business models reliant on bridging digital divides for smallholder farmers.

Company Intelligence Q&A

What is Farmster's primary business?

Farmster operates an online marketplace connecting farmers and buyers for produce and agricultural inputs, utilizing an AI-driven SMS chatbot to enable farmers without internet access to participate.

When was Farmster founded?

Farmster was founded in October 2017.

Did Farmster receive any grants?

In March 2019, Farmster secured a grant from the Israel Innovation Authority.

What is the current status of Farmster?

Farmster is non-active and ceased to operate in April 2022.

Who are the founders of Farmster?

Adam Abramson is a founder of Farmster.