Kenyan agritech Victory Farms has raised $35 million in Series B funding to finance its expansion plans.
Creadev led the Series B round, with participation from the Acumen Resilient Agriculture Fund (ARAF), DOB Equity, Endeavor Catalyst Fund, and Hesabu Capital. Founded in 2015, Victory Farms leverages innovative technologies to bring together the best aquaculture practices from around the globe to tackle the challenges of; rapidly declining wild fish catch in Lake Victoria, rising populations and undernourishment. The startup is on a mission to build a commercial tilapia farm to feed 2 billion Africans with affordable, accessible and healthy protein over the next two decades. Victory Farms intends to invest the funding to finance the expansion of its operations in Kenya and Rwanda and potential entry into Ethiopia, Uganda, and Tanzania.
The OPEC Fund for International Development has pledged $30 million to support the Gulf of Suez Wind Farm in Egypt, poised to become Africa’s largest onshore wind energy project.
Ezdehar investment fund has injected $10 million into Yodawy, a pioneering Egyptian health-tech platform.
Pan-African beauty startup Zuri has secured its first institutional tech investment from Launch Africa Ventures.
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