Cambodian farmers are about to find it easier to sell their products in the Cambodia’s biggest cities after a deal between Uberis Impact Network and Azaylla Cambodia Co Ltd.
Venture capital firm Uberis is investing an undisclosed sum into Azaylla, a startup grocery and fresh food distribution business headquartered in Phnom Penh.
The capital currently imports around 70 percent of the fruit and vegetables its residents eat mostly from Vietnam. Uberis’ equity investment will provide growth capital for Azaylla to expand its local network and give farmers access to customers not just in Phnom Penh, but also other major cities.
“Uberis’ investment is a vote of confidence not just in Azaylla, but also in Cambodian farmers and consumers,” said Azaylla founder and Chief Executive Officer Parth Borkotoky. “There’s a strong desire throughout the community in favour of locally sourced, traceable and safe food – and Azaylla fills that need.”
Azaylla provides farmers value-added services including quality control, financing, logistics, packaging and branding.
“These services make it easier for Cambodian producers to participate in the domestic market, whilst ensuring consistently high service levels to our clients,” Borkotoky said.
Cambodia relies heavily on agriculture for its economic growth. It contributed 23 percent to the size of the economy last year. The government has been working with international development agencies to modernise the agriculture sector to improve quality, ensure sustainable farming practices and raise incomes in rural communities.
“Azaylla offers our investors a commercially proven business model, that can scale to meet Cambodia’s plan to become a middle-income economy by 2035,” said Uberis Impact Network Managing Partner Sov Leang.
Azaylla’s shift to locally sourced produce reflects a global move towards food security, safety and sustainability. The World Economic Forum has advised countries and consumers to support “local food systems with shorter, fairer and cleaner supply chains that address local priorities”.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.