Afrigather Village Capital, a worldwide nonprofit group targeted on early-stage funding, has backed Aquarech (Kenya) and Coamana (Nigeria), two African tech agritech startups. Each startups will obtain $350,000 and $500,000, respectively, as a part of Village Capital’s Decreasing Inequalities Funding Facility, backed by FMO’s MASSIF Fund, which has to date invested $1.6 million throughout 4 startups.
Aquarech is a B2B and B2C firm and provides fish farmers a purchase now pay later resolution (BNPL) for fish feed. The startup additionally offers coaching and different precision agriculture instruments that assist fish farmers study finest practices and enhance incomes.
Hafsah Jumare launched Coamona in 2018 to assist digitize farmer administration processes. Via its market merchandise, Amana Market, farmers and merchants can promote their merchandise, get loans, and entry real-time market costs and buy requests. The startup makes use of agent networks to onboard farmers and merchants into its digital market. The actual-time market costs and buy requests offered on the app permit farmers to make knowledgeable selections about when and the place to promote their produce, making certain they get the very best crop costs.
Coamana and Aquarech are Village Capital’s newest investments in Africa. The funding comes as extra tech-driven agricultural startups on the continent are bridging the hole between farmers, customers, and companies within the agricultural sector.
“Village Capital is thrilled to spend money on Coamana to catalyze its efforts in constructing the digital infrastructure for agricultural commerce markets throughout Africa. This funding will drive better worth transparency, effectivity, market linkages, and entry to finance,” shared Kavon Badie, Funding Officer at Village Capital.
