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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.

Swedfund, the Swedish development finance institution, and the Danish Investment Fund for Developing Countries (IFU) have joined forces with Sturdee Energy to drive renewable energy expansion in Southern Africa.

Shuttlers, a Nigerian innovative shared-mobility platform, has secured $4 million in funding for expansion.

FSD Africa has unveiled a US$30 million venture fund, the Inclusive Insurtech Investment Fund (3iF), aimed at inviting more private capital into the continent’s insurtech industry.