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 Nigerian government, in collaboration with the Bill & Melinda Gates Foundation, has inaugurated the Nigeria Artificial Intelligence (AI) Scaling Hub.
Egyptian healthtech company i’SUPPLY has secured an undisclosed amount of funding in a pre-Series A round to fuel its expansion plans and bolster its offerings for small and medium-sized pharmacies.
To help small and medium-sized businesses in Africa access the financing they need, the International Finance Corporation (IFC) and investment firm TLG Capital have launched a new private credit initiative.
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