Draper University Ventures has closed fundraising for VeGrow, a Pakistani startup in automated vertical farming. Numerous investors from the AgriTech sector took part in the investment round.
The VeGrow team is made up of the founder Waleed Arshad, a young businessperson with 7 years of experience developing and scaling AgriTech initiatives, and chief marketing officer Jasia Farooq, a young marketer with experience in numerous sectors, including telecom, fintech, and food retail.
In addition, with this money, Team VEGROW hopes to improve its supply chain, pursue its MVP, and accelerate product development.
The company’s creator, Waleed Arshad, responded when asked about the magnitude of the investment, “We can’t formally reveal the number right now because we are heads down on development and we want to keep that our major focus. It will be revealed in six months.”
According to the UN’s most recent State of Food Security and Nutrition in the World report, global hunger has not recovered from the COVID-19 epidemic in 2020, leaving as many as 828 million people hungry in 2021.
Moreover, Waleed was chosen by Draper University earlier this year to participate in the Hero Training Program. Tim Draper, a renowned venture capitalist, founded Draper University.
Highlights of DraperU alumni
3,000+ alumni founders launched 650+ businesses, creating 9 unicorns.
Over 900 million dollars in funding were raised, and more than 7,000 employment were produced.
Furthermore, he had access to Silicon Valley during the five-week program. There he met and learned from a variety of speakers and mentors.
VeGrow is committed to minimizing the environmental impact of conventional farming’s CO2 emissions. It is a method for growing crops vertically while utilizing only 5% of the water needed for normal farming.
In order to create fresher, greener, and healthier products for everyone, modern technologies can be used to boost output, prevent disease, and greatly improve crop quality.
“Global warming is deteriorating daily. We shall regret it greatly in 2050 if we don’t act now. I feel like it’s now or never for us after the recent floods in Pakistan”, said Waleed, the founder of VeGrow.