Agritech startup Farmerline secures US$1.5m investment from Oikocredit

GHANA – Farmerline, a Ghanaian agritech startup, announced the second close of a pre-Series A investment raise with an additional US$1.5 million investment from Dutch social impact investor Oikocredit. The investment is part of a total funding round worth US$14.4 million raised by Farmerline from investors including FMO and ARAF. Farmerline supports smallholder farmers and agribusinesses with digital tools, logistics,…

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Ghanaian Agribusiness value chains to benefit from US$15m financing issued by Fidelity Bank

GHANA – Fidelity Bank, a commercial bank in Ghana has received US$15 million loan from eco.business Fund, an impact investment fund advised by Finance in Motion, to finance agribusinesses in the country. The senior loan will be on-lent to a wide range of agribusinesses that cover the entire value chain – from food production to logistics and supply chains across…

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ThriveAgric raises US$56.4M debt funding, accelerates pan-Africa expansion plans

NIGERIA – ThriveAgric, a fast-growing technology-driven agricultural company, has raised US$56.4 million in debt funding from local commercial banks and institutional investors to accelerate expansion plans. The raise also included a co-investment grant of US$1.75 million from the USAID-funded West Africa Trade & Investment. The new investment will enable the company to grow its 200,000+ farmer base, and expand into…

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Agritech Apollo Agriculture raises US$40m Series B investment to develop new products

KENYA – Kenya-based agritech Apollo Agriculture, which assists farmers in obtaining high-quality farm inputs, finance, and markets, has raised a US$40 million Series B investment deal headed by Softbank Vision Fund 2. Apollo Agriculture intends to treble its farmer base by the end of 2022 and to develop new products that add value per acre of land with this new…

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Agritech start-up SupPlant closes US$27M series A funding round to help farmers fight climate change

AFRICA – Tel Aviv-based startup making smart crop irrigation sensors, SupPlant has raised US$27 million from several financial partners to help farmers fight climate change in Africa. The latest funding round was led by Red Dot Capital Partners with participation from Menomadin Foundation, Smart-Agro Fund, Mivtah Shamir, Deshpande Foundation, PBFS, and Maor Investments. The smart irrigation systems provider will use…

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FreshSource secures undisclosed seed round to cut food loss in Egypt

EGYPT – FreshSource, the MENA region’s first B2B agri-supply chain platform, has announced a seven-figure investment to cut food loss in Egypt. The latest seed round was led by 4DX Ventures and Wamda to enable FreshSource to create more sustainable fresh food systems through their tech platform. The funding will be directed towards further geographical expansion within the Egyptian market,…

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Agri-tech startup Vendease closes US$3.2m seed round to expand its operations

NIGERIA – Vendease, an agri-tech startup that lets restaurants and other food businesses buy supplies directly from manufacturers and farms, has secured a US$3.2 million seed round to expand operations and build out its technology. The funding round was led by Global Founders Capital with participation from Y Combinator, Hustle Fund, Liquid 2 Ventures, and Soma Cap. Other local investors…

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Agritech startup Thrive Agric launches US$10m project to support smallholder farmers

NIGERIA – Thrive Agric, the Abuja-based agritech startup, has launched a one-year project that aims to support 50 000 smallholder farmers and will be supported and conducted in collaboration with the USAID-funded West Africa Trade & Investment Hub’s (Trade Hub). As part of its partnership with the Trade Hub, Thrive Agric has committed to raising at least US$10 million to…

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Agritech Startup MooMe secures investment from Maxula Seed Fund

TUNISIA – Maxula Gestion, a manager and distributor of the Startup Maxula Seed Fund, has announced a new investment in Startup MooMe, a decision-making system for farmers. With this investment, MooMe will create synergies with the company Nour Agricole specializing in the manufacture of cattle feed, in order to support thousands of cattle breeders and also help veterinarians to better…

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FMO plans to inject US$2.5m in SA agri-tech startup Aerobotics

SOUTH AFRICA – Dutch development financier FMO is seeking to invest R42.75 million (US$2.5m) in Aerobotics, a South African Agritech company. The proposed investment will come from FMO’s Building prospects fund and will support the company’s operations, expansion and technology development. Aerobotics is active in the farm management software, sensing and IoT space and has developed an orchard monitoring, yield estimation…

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