The agtech start-up received a $10m investment from the Gates Foundation to deliver a biodegradable version of its alternative input to smallholder farmers.

Pulse Agri Investments and Tene Investment Funds plan to bolt on additional agtech services that will benefit from Ahern’s distribution network and established status.

Agtech investment data from Pitchbook shows agrifinance and e-commerce firms could double the $587m raised in 2019 to eclipse the $1bn mark for the first time.