MOROCCO – SEAF Morocco Growth Fund (SMGF), an investment fund has completed its fourth investment with its acquisition of stake in SOWIT, an Agritech Company Specializing in Precision Agriculture in Africa.
SOWIT is an African startup offering digital solutions that enables farmers to preserve irrigation water and fertilizer needs for a range of major crops on the continent such as cereals, maize, sugar cane, and citrus.
SMGF’s investment into SOWIT will be used to support and accelerate the development of the company’s products and services as well as its geographical expansion in Africa.
The company currently has a presence in Paris, Casablanca, and Dakar.
SEAF Morocco Growth Fund’s Managing Director, Meriem Zairi, said, “We are delighted with our investment in SOWIT which, thanks to artificial intelligence and machine learning, provides African farmers with cutting-edge technological solutions in a sector with great challenges.”
“This investment will allow us to accelerate our deployment and contribute to raising the productivity and sustainability levels of a continent that contains more than 50% of the world’s uncultivated arable land,” commented Hamza Chaham founder, SOWIT.
Hamza Bendahou co-founder SOWIT added, “Between the field, laboratories and the development of technological solutions, we work daily to provide farmers with precise information that directly drives critical operations.”
“SEAF’s investment will enable us to strengthen the scientific component as well as our presence in the field.”
To carry out its operations, SOWIT collects crop data with satellite and drone imagery for analysis with historical climate data, producing predictions and recommendations for improved agricultural management.
The analysis of the data is carried out via proprietary artificial intelligence and machine learning techniques based on agronomic models developed in partnership with agricultural research centres in Europe and Morocco.
The insights and recommendations then extracted are delivered to farmers with precise practical indications to apply on the field.
SOWIT was selected from among 1000 startups at the Station F Incubator – the world’s largest – as one of the 40 most promising startups. Forbes France then selected SOWIT as one of its four favourite startups among that list of 40.