The Empower Africa Business Platform is Now Live !!!
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.

Incofin, through its Water Access Acceleration Fund (W2AF), has announced a $3 million investment in Spouts International, a leading East African manufacturer and distributor of ceramic water filters under the Purifaaya brand.

Surayyah Ahmad, a seasoned entrepreneur and co-founder of two previous ventures, has launched Sabou Capital, a new investment fund aimed at closing funding gaps for small and medium-sized enterprises (SMEs) in West and Central Africa.

Nigerian mobility fintech Moove is seeking to raise $300 million in equity funding, a move that could elevate its valuation beyond $1 billion, positioning it among Africa’s unicorn startups.