Village Capital invests $850,000 in two African Agtech startups
Village Capital, a world 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 a part of Village Capital’s Reducing Inequalities Investment Facility, backed by FMO’s MASSIF Fund, which has to this point invested $1.6 million all over four startups.
Aquarech is a B2B and B2C firm and affords fish farmers a aquire now pay later solution (BNPL) for fish feed. The startup also provides coaching and other precision agriculture instruments that motivate fish farmers obtain out about easiest practices and enhance incomes.
Hafsah Jumare launched Coamona in 2018 to motivate digitize farmer administration processes. Thru its marketplace products, Amana Market, farmers and merchants can promote their products, obtain loans, and entry staunch-time market prices and glean requests. The startup uses agent networks to onboard farmers and merchants into its digital marketplace. The particular-time market prices and glean requests offered on the app allow farmers to obtain informed decisions about when and where to promote their obtain, making sure they obtain the most attention-grabbing conceivable carve prices.
Coamana and Aquarech are Village Capital’s latest investments in Africa. The investment comes as extra tech-pushed agricultural startups on the continent are bridging the opening between farmers, patrons, and businesses within the agricultural sector.
“Village Capital is thrilled to put money into Coamana to catalyze its efforts in building the digital infrastructure for agricultural trade markets all over Africa. This investment will pressure greater designate transparency, efficiency, market linkages, and entry to finance,” shared Kavon Badie, Investment Officer at Village Capital.