Kita Agritech $3M seed to digitize PH agri supply chain

Kita, an innovative agritech startup in the Philippines, recently bolstered its finances with a significant $3M injection following an oversubscribed seed round. Leading the charge were Gentree Fund and Altara Ventures, both enticed by Kita's promising vision.

• The Funding: This successful funding round, spearheaded by Gentree Fund and Altara Ventures, has amplified Kita's financial muscle, empowering it to innovate further in the agritech space.

• The Mission: Kita dreams of revolutionizing the agriculture supply chain with a digital transformation. This involves integrating big data and AI into everyday farming practices, creating a seamless transition from traditional to tech-enabled farming.

• The Challenge: Despite making a strong impact on the demand side, Kita identified an area for improvement – the need for better pricing and income stability for farmers.

• The Team: Helming the company is CEO Marc Concio, who attributes Kita's success to his dedicated team and robust cash flow.

• The Background: Agriculture is a significant contributor to Southeast Asia's economy, with the Philippines playing a central role. With a trading volume of a staggering $30B and providing employment to over 20% of Filipinos, agriculture holds a crucial place in the country's socio-economic fabric.

• The Objective: The primary goal of Kita is to empower Filipino farmers by harnessing the power of modern supply chain technology and AI. By supplying fresh produce to B2B customers in Metro Manila, Kita has already started improving farmers' income levels.

• The Journey: Starting from humble origins in 2022 with deliveries in an old pick-up truck, Kita now operates three warehouses with a fleet of cold chain-enabled delivery trucks.

Kita's ultimate goal is to simplify the intricate agricultural supply chain in the Philippines, benefiting everyone from farmers to consumers.