Ignitia closes $4.2m financing round to fuel expansion
Ignitia has closed a $4.2m financing round led by Novastar Ventures followed by IKEA Social Entrepreneurship. The funds will be used to expand Ignitia’s agricultural decision-making support into the Brazilian market, as well as extend its Sub-Saharan Africa footprint to new markets.
Ignitia’s services enable agricultural players to make better timed decisions on all farming activities and achieve improved farming outcomes – from preparing the land to harvesting the crop. Today, Ignitia serves 1.9 million farmers across West Africa, mainly in Ghana, Burkina Faso, Nigeria, and Mali.
Ignitia was founded in 2010 by three scientists who joined forces to address the seemingly impossible task of producing reliable tropical weather forecasts. Five years and 20,000 man hours later, the team produced the world’s first hyperlocal, highly accurate tropical weather forecast. Predictive AI, proprietary algorithms, and uninterrupted 3-D multi-source data come together to create a tropical forecast that is more than twice as accurate as global models in tropical regions.
Closing this funding round represents another stepping-stone towards Ignitia’s 2030 mission to reach 200 million farmers.