Farm e-commerce company On the Slope has won support from Kyoto University’s KU-iCap, with the funding allocated for expansion in several Asian countries.
Japan-based farm e-commerce platform operator On the Slope (Saka no Tochu) has obtained ¥601m ($5.5m) of a targeted $7.7m round backed by Kyoto University Innovation Capital, the investment arm of Kyoto University, TechCrunch has reported.
The round was also backed by financial services firm NEC Capital Solutions and Mizuho Capital, an investment unit of NEC’s financial services peer Mizuho Bank.
Nanto CVC Investment, a corporate venturing vehicle for regional bank Nanto Bank, also took part together with consumer products supplier Serac, public services contractor Keishin Group and the growth and industrialisation support board at Japan’s Ministry of Agriculture, Forestry and Fisheries.
On the Slope runs an e-commerce platform that aims to promote sustainable vegetable farming through collaborations with newcomers to the agriculture industry.
The company provides advice on cultivating crops as well access to financing, guidance on building sales channel and a marketplace connecting organic crop sellers with buyers.
The capital injection will drive the expansion of On the Slope’s coffee plantation services into Thailand, Yemen, Indonesia, Nepal and China, building on its existing presence in Laos, Myanmar and the Philippines.
