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.
Africa-focused private equity firm Admaius Capital Partners (“Admaius”) has announced a majority equity investment in TRES Infrastructure Limited (“TRES”), the sole Rwandan company licensed to own, operate, and develop shared telecommunications infrastructure.
InspiraFarms Cooling, a leading provider of sustainable cooling solutions for Africa’s fresh produce industry, has secured a €1 million investment from the Foundation for Clean Energy and Energy Inclusion for Africa (CEI Africa).
Renew Capital, a firm specializing in impact investments across Africa, has announced its debut investment in Ghana.
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