Releaf Raises $3.3M in Pre-Series A Funding
Summary
Releaf, a Lagos, Nigeria-based technology company that makes it easier for consumer goods manufacturers in Africa to access high-quality ingredients for their factories, raised $3.3m in Pre-Series A funding round. Co-founded by Uzoma Ayogu (CTO) and Ikenna Nzewi (CEO), Releaf is a technology company that makes it easier for FMCG manufacturers in Africa to access high quality ingredients for their factories. Starting with sustainable oil palm in Nigeria, Releaf develops technology to enable decentralized purchasing and processing of raw crops to improve profitability and prevent post-harvest loss for a more climate-resilient future. The company intends to use the funds to launch two new technologies: • Kraken II – a portable version of its award-winning palm nut de-sheller, and • SITE – a geospatial mapping application that informs the most profitable positioning of food processing assets. Releaf has also secured more than $100m in supply contracts from leading consumer goods manufacturers, including Presco, PZ Cussons, and more.