On Friday, Latin American agriculture e-commerce platform Agrizon announced that it has received a strategic investment from tech investor Latin Leap through its Seed Investment Club (SIC). Size and other terms of the investment were not made public.
Founded by Ecuadorian and American entrepreneurs Luis Fernando Hidalgo and Joaquin Paz, Agrizon operates across borders to connect farmers with ag inputs. The investment from Latin Leap will be used toward its goal of becoming the leading e-commerce and last-mile logistics platform for agribusiness in Latin America, initially planning a growth push into Mexico.
Presently, Agrizon offers a catalog of more than 5000 products from 200 suppliers, primarily serving customers in Ecuador, where it represents 85 percent of all online traffic in the agribusiness sector.
“While working at an agro company in Ecuador I witnessed that our clients could not access all brands in one-stop store, due to distance and mobility issues and that some suppliers did not have a way to reach final customers. Traditional options at the time were through catalogs that directed the farmers to the seller,” Co-Founder Luis Fernando Hidalgo said in a comment on the investment. “Agrizon changed the game by offering online transactions, speed(y) product delivery to the farmer in less than 72 hours, and high quality customer service.”
“Latin America is home to the largest cultivable lands on earth, and the agriculture market, which has been operating very much offline, is accelerating digital adoption and seeking more efficient supply chain solutions to keep up with the global competition. Agrizon had created a loyal customer base and has the vision to become the number one platform in the Latam agribusiness industry,” said Latin Leap Managing Director Stefan Krautwald.
Latin Leap is a venture capital studio formed to “soft-land” purpose-driven tech companies in Latin America, offering preferred access to corporate partnerships and experienced venture partners identified as “gatekeepers” of the Latin American market. Latin Leap said it aims to help tech companies establish a unique geographical footprint in the region.
