202422 Jan

Shamba Pride secures $3.7m pre-series A funding to help Kenyan farmers distribute their produce

Summary

Kenyan agriculture technology startup, Shamba Pride has secured $3.7m to improve the distribution of farm products and address issues faced by farmers in Kenya and neighbouring countries. Through its merchant network, digishops, the agritech startup has a presence with 2,700 agro-dealers in 24 Kenyan counties.With the new funding, the company plans to expand within the country, reaching more retailers and agricultural areas. With 65% of export earnings attributed to this sector, it holds significant economic importance and remains a central area for innovators.Shamba Pride founder and CEO, Samuel Munguti told TechCrunch, Agriculture distribution in rural communities is heavily controlled by agro-dealers who decide how farmers access inputs, services and training. Read More: Kenyan e-commerce Copia Global raises $20m funding, appoints former Metaswitch CEO to boardMaxime Bouan, a general partner at SAV, highlights Shamba Prides success rooted in innovations supporting daily farming activities. The startups innovative solutions are anticipated to increase income opportunities for farmers through improved market connectivity and streamlined supply chains.Additionally, the growth of agro-dealer networks is expected to foster entrepreneurship, contributing to the overall economic vibrancy of the regions.

Source: Technext24

Funding

$2M
Amount
Jan 22 2024
Date
-
Investor
Shamba Pride
Company

Classifications

Companies