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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.

Naked, a South African insurtech company, has successfully raised $38 million in a Series B2 funding round.

Seedstars Africa Ventures I, a venture capital fund dedicated to early-stage startups in Africa, has reached a landmark $42 million first close.

Village Capital, a global nonprofit investor in early-stage companies, has announced investments in Kenyan startup Aquarech and Nigerian startup Coamana.