Empowering African agrifoodtech startups in terms of funding and business strategy remains at the core of the new program.
The Middle East, Africa and South Asia have many ties between them that create a huge market opportunity for agrifoodtech.
Verqor will become a direct financial lender to farmers and approve loan applications in “48 hours or less.”
While VCs pumped just $3.2 million into farm management software for African agriculture, this is up from 2021.
Mercy Corps Ventures and Farm Star are testing the use of Web3-enabled rewards to drive adoption of regenerative agricultural practices.
As smartphones have proliferated and technological advancements have enabled more transparency around agricultural products and pricing, farmers are gaining more trust in online tools as a means to do business and improve their finances.
DeHaat will exclusively sell formulations from Global BioAg Innovation (GBI) and Australia’s Aussan Laboratorie to smallholders in India.
Startups in the Ag Marketplaces & Fintech category raised $191 million in 2022 to bring more efficiency to the agrifood supply chain.
Tawi Fresh launched this year to connect smallholder farmers in Kenya more directly to markets, financing and fairer pricing.
The Yield Lab Latam is targeting a $50m final close by the end of the year.
Aquaconnect will use the new capital to build up its product portfolio for both pre-harvest and post-harvest services for the aquaculture industry.
DeHaat says the Series E round will help the company reach break-even profitability within the next 12 months.
To the casual observer, Africa’s agricultural development presents something of a paradox. Despite registering the fastest agricultural productivity growth rate than any region and more than doubling agricultural exports to the rest of the world over the last 20 years, the continent’s food imports are rising faster than ever.
The category’s strong fundraising performance underscores its potential to positively impact Asia-Pacific, especially when it comes to smallholder farmers.
IPES-Food also suggests building “sustainable food systems” that reduce waste, improve nutrition and bolster the supply chain were also left out.
The Mexico agtech ecosystem is not bowing to global pressures as new innovations continue to crop up and develop, writes Adrian Garcia-Casarrubias.
Smaller-sized farmers in Mexico have no access to credit. Verqor wants to change that by digitizing more of the country’s ag operations.
The agribusiness marketplace for Ghanaian smallholders has raised $6.5 million in equity and $6.4 million in debt.
SokoFresh provides a mobile cold storage solution for smallholders in Kenya, based on a ‘pay-as-you-store’ business model.
Nigeria’s ThriveAgric and Kenya’s Apollo Agriculture raised close to $100 million between them this week in a watershed moment for African agrifoodtech.
