Tech startup Farmvocacy has been awarded the grand prize of 1 million pesos at the Shell LiveWIRE 2023 Final Pitch Day. The program, which aims to support entrepreneurship and innovation, recognized Farmvocacy for its innovative solutions for rice farmers and its focus on supporting climate-smart rice farming. The other two finalists were LITHOS Manufacturing OPC, a producer and trader of industrial and feed-grade minerals, and Lycan Motorcycles, a Filipino motorcycle and technology startup. Several community enterprises were also recognized for their work in promoting entrepreneurship and meaningful employment. The Department of Trade and Industry Undersecretary praised the dedication to sustainability shown by the startups and encouraged collaboration among the enterprises. Since its launch in 2020, Shell LiveWIRE has helped 42 innovators and business owners through its Acceleration Program, leading to the creation of over 500 local jobs.
Singaporean agritech platform Rize has raised US$14 million in a Series A funding round, co-led by Breakthrough Energy Ventures, GenZero, Temasek, and Wavemaker Impact. The funding will support Rize's expansion into Indonesia, Việt Nam, and other South and Southeast Asian countries. Rize's technology stack captures agricultural data to implement sustainable farming practices, increase crop yields, and lower costs. The company plans to increase the number of agronomists it employs to over 100 by the end of the year and potentially reach over 20,000 farmers. Rize aims to tackle the environmental impact of rice cultivation and scale sustainable rice farming across Asia and globally. The funding will also enhance Rize's Measuring, Reporting, and Verification (MRV) technology. Rize plans to expand into other rice-producing South and Southeast Asian countries in 2025.