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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.

Scalar International and Mergence Investment Managers have launched a new $150 million private equity fund to support clean energy and digital infrastructure projects in the region.

Venture Capital firm HAVAÍC has successfully raised $15 million in commitments for its third African Innovation Fund, marking the first close of the $50 million fund.

Pan-African beauty startup Zuri has secured its first institutional tech investment from Launch Africa Ventures.