Village Capital, a global nonprofit organization focused on early-stage investment, has backed Aquarech (Kenya) and Coamana (Nigeria), two African tech agritech startups. Both startups will receive $350,000 and $500,000, respectively, as part of Village Capital’s Reducing Inequalities Investment Facility, backed by FMO’s MASSIF Fund, which has so far invested $1.6 million across four startups.
Aquarech is a B2B and B2C company and offers fish farmers a buy now pay later solution (BNPL) for fish feed. The startup also provides training and other precision agriculture tools that help fish farmers learn about best practices and improve incomes.
Hafsah Jumare launched Coamona in 2018 to help digitize farmer management processes. Through its marketplace products, Amana Market, farmers and traders can sell their products, get loans, and access real-time market prices and purchase requests. The startup uses agent networks to onboard farmers and traders into its digital marketplace. The real-time market prices and purchase requests provided on the app allow farmers to make informed decisions about when and where to sell their produce, ensuring they get the best possible crop prices.
Coamana and Aquarech are Village Capital’s latest investments in Africa. The investment comes as more tech-driven agricultural startups on the continent are bridging the gap between farmers, consumers, and businesses in the agricultural sector.
“Village Capital is thrilled to invest in Coamana to catalyze its efforts in building the digital infrastructure for agricultural trade markets across Africa. This investment will drive greater price transparency, efficiency, market linkages, and access to finance,” shared Kavon Badie, Investment Officer at Village Capital.
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