Jordan’s Nestrom secures seed round from Propeller Inc., 500 Startups, Wamda, Agrimatico and angel investors
Nestrom, an AgTech startup based out of Amman, Jordan, has just secured an undisclosed amount of seed investment from Propeller Inc., 500 Startups, Wamda Capital, Agrimatico and angel investors.
Nestrom is an AgTech company focused on developing Farm Management Systems to track, optimize and automate operations through cutting-edge technologies. The company has developed its flagship product that enables operational tracking from the workforce to environmental parameters enabling farms to make informed decisions. Through utilizing a suite of Software as a service and IIoT (Industrial IOT) devices Nestrom can provide insight on the most complex tasks in Agriculture while mitigating risks that jeopardize harvest, food safety and profitability.
Founded in early 2017 when the three co-founders Yousef Wadi, Kanaan Manasrah and Shadi Al Shalabi, joined Propeller’s acceleration program and secured its pre-seed investment.
"We are thrilled to have on board strategic investors and major players in the agriculture industry, from Agrimatico to angel investors, who without a doubt will add great value to Nestrom" commented the company’s Founder and CEO, Yousef Wadi, in an interview with MAGNiTT.
With the seed investment, the company plans to cover more ground and cater to top local and regional agricultural producers through a more structured sales approach. Moreover, a portion of the investment will be allocated towards furthering product development.
Yousef added, “Technology has been key in advancing and disrupting virtually all sectors. However, agriculture has been underserved when it comes to enabling technologies, despite its importance for our existence as the world's population grows.”
The company has managed to build its highly sophisticated product suite and went to market within a year. Nestrom products have been deployed in MegaFarms in KSA and Jordan, and are available throughout the EMEA region.
“Yousef and his team are undoubtedly capable of realizing Nestrom’s full potential in redefining and empowering the agricultural industry. We are proud to call ourselves their partners.” commented Zaid Al-Farekh, Partner at Propeller Inc.