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Kenyan Agritech Shamba Pride Secures $3.7 Million pre-Series A to Empower Farmers and Retailers

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Kenyan Agritech Shamba Pride Secures $3.7 Million pre-Series A to Empower Farmers and Retailers

Kenyan agritech startup Shamba Pride has secured a $3.7 million pre-Series A funding round.

The combined debt-equity investment, including $1.7 million in equity, will fuel Shamba Pride’s expansion plans and empower both farmers and retailers across Kenya.

This latest funding round, led by the European Union’s EDFI AgriFI initiative and Seedstars Africa Ventures (SAV), builds upon Shamba Pride’s previous $1.1 million capital raise in 2021.

Since its 2016 launch, the company has established itself as a crucial ecosystem for agricultural trade, offering an online-to-offline platform that empowers “agro-dealers” with tools and technology to better serve farmers.

“Agro-dealers play a vital role in rural areas, providing farmers with access to crucial inputs, services, and training,” says Shamba Pride CEO Samuel Munguti.

“This new funding will equip them with the tools and technology they need to enhance their businesses, support local farmers, and expand their commercial reach.”

Shamba Pride’s focus on empowering small-scale farmers, who contribute significantly to Kenya’s GDP and employment, aligns with the nation’s broader push towards technological innovation in agriculture.

The sector accounts for 65% of export revenue and offers immense potential for further development.

Shamba Pride’s platform provides farmers with valuable resources, including market links, Buy Now, Pay Later (BNPL) financial services, and training information accessible through a USSD platform.

Currently operating in 24 counties, the company has already enrolled over 60,000 farmers and partnered with 2,700 agro-retailers, covering more than half of Kenya.

With this new funding, Shamba Pride aims to expand its reach further, incorporating more retailers and agricultural areas throughout the country in the coming year.

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