KSK Angel Fund, founded by professional footballer Keisuke Honda, announced on Tuesday that it is investing in Japan-owned Agribuddy, a startup that works in Cambodia and India to boost agricultural production.
The size of the investment and other key details have not been revealed.
According to the angel investor firm, Agribuddy is now one of KSK Angel Fund’s top two investees.
Agribuddy is an agritech company that works with thousands of rice, cassava and corn farmers across seven provinces in Cambodia – Siem Reap, Banteay Meanchey, Oddar Meanchey, Battambang, Pailin, Pursat, and Kampong Thom.
It aims to boost yields and improve farmers’ livelihoods.
KSK Angel Fund was created “to make the world a better place for the next generation, with a mission to create a society without poverty and with equal education”, according to the firm.
“We have seen a lot of potential in Agribuddy,” said fund founder Mr Honda. “It can do a lot of good helping farmers by facilitating agricultural financing and enhancing access to markets.”
Agribuddy CEO and founder Kengo Kitaura said the investment will further solidify the company’s reputation as a “friend of the farmers”.
“This is encouraging news as Agribuddy is making every effort to grow and help agricultural communities by increasing agricultural production and improving the value chain.
“We strongly hope that our farmers will benefit significantly from Honda’s support and investment in Agribuddy,” he added.
Pakk Yourng, managing director of Agribuddy Cambodia, said becoming one of the main investees of a celebrity represents a huge milestone for the company.
“This is a huge achievement for the whole Agribuddy team, who is strongly committed to serving our farmers. The investment encourages everyone to do more and better for the sake of the agriculture sector,” Mr Yourng said.
Agribuddy has also received funds from Mistletoe, the Smart Axiata Digital Innovation Fund (SADIF), and Forte Investment Holdings, among others.