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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.

Octane, a fintech firm specializing in digital payment solutions for fleet operations, has successfully raised $5.2 million in a funding round aimed at accelerating its regional growth and technological development.

AgDevCo has invested $7 million in Planting Naturals, a Sierra Leone-based producer of certified organic palm oil.

Canada’s development finance institution, FinDev Canada, has committed a USD 100 million loan to the Africa Finance Corporation (AFC), a major infrastructure financier in Africa.