Ghana-basically based entirely entirely agritech startup AgroCenta has raised $790okay in pre-sequence A working capital and construction funding from UK charity Shell Foundation, the UK’s International, Commonwealth, and Building Feature of labor (FCDO), AV Ventures, and Rabo Foundation.
AgroCenta secures $790okay in funding
The funding secured would per chance be utilised to extra assemble the agritech’s present smallholder farmer inclusion programmes.
In an announcement, Francis Obirikorang, CEO of AgroCenta and Michael Ocansey, co-founder of the agritech startup highlight the significance of the investment secured.
“Here’s a indispensable milestone for AgroCenta, having the enhance of main institutions, particularly with the COVID-19 backdrop, underlining the energy of AgroCenta and the significance of its mission. The request for agricultural raw materials from off-takers within the brewery, manufacturing, and client sector is rising exponentially on myth of of the easing of the COVID-19 restrictions that like been set in space by the authorities of Ghana, on account of this truth this capital injection will abet to gain purchases at truthful and clear prices from smallholders — a unparalleled-wished lifeline for people who are on the proverbial bottom of the pyramid”.
Basically based in 2016, AgroCenta is an agritech startup that has created an on-line platform that connects the complete stakeholders within the staple meals price chain akin to smallholder farmers, companions, off-loaders, and logistics gives to merchants.
Providing a unparalleled-wished service and platform to smallholder farmers in rural areas in Ghana, the agritech startup gives them with access to larger on-line markets to lengthen their revenue. Moreover to, smallholder farmers and farmer-basically based entirely entirely organisations’ form is re-invested into the acquisition of Agri inputs akin to seedlings, pesticides, and extra.
This creates a two-fold resolution to the first complications confronted by smallholder farmers in Ghana, particularly, access to market and access to finance.
Utilizing technology, AgroCenta eliminates the want for middlemen or brokers, thus reducing the probability of exploitative merchants that reportedly have interaction form from smallholder farmers for below a third of its staunch price. Truly, the startup gives enhance for smallholder farmers inner the price chain route of.
AgroCentra’s CropChain platform permits smallholder farmers to develop transactions with correct knowledge and has reportedly elevated the usual CropChain farmer’s profits by 35% since its open. Moreover to, the platform gives estimable access to financing, inputs, and data on the noble agricultural , enabling smallholder farmers to make contributions to sustainable meals security.
Read extra: Kenyan insurtech startup secures $6-million
Read extra: Modern SA medtech startup receives funding
Featured image: Emmanuel Bobbie, AgroCenta, Fb