South African agri-tech startup Nile has secured $11.3 million in funding to expand its operations across Southern Africa.
The investment round was led by the Cathay AfricInvest Innovation Fund, with additional contributions from FMO, the Dutch entrepreneurial development bank, and existing investor Platform Investment Partners.
Founded in 2020 by Louis de Kock, Eugene Roodt, and Rick Kleinhans, Nile operates a business-to-business (B2B) online marketplace that connects fresh produce farmers directly with commercial buyers.
The platform addresses common challenges in agricultural trade, including price transparency, quality verification, payment speed, produce traceability, and reducing food waste.
Nile’s digital ecosystem enables farmers to list their produce, allowing buyers to view live prices and availability.
The platform facilitates transactions and ensures secure payments, improving cash flow for farmers.
Since its inception, Nile has facilitated the trade of over 30 million kilograms of fruits and vegetables, serving buyers in five countries and 35 towns and cities across Southern Africa.
The recent funding will support Nile’s growth by expanding its agricultural inputs marketplace and introducing innovative financing solutions in partnership with leading banks.
These initiatives aim to enhance farmers’ access to markets, tools, and capital, further integrating regional food systems and making nutritious food more accessible across the continent.
Co-founder Louis de Kock expressed optimism about the company’s trajectory, stating, “We have been surprised by how quickly farmers have embraced our digital way of trading. Having built critical mass, we now have the unique opportunity to use the new funding to build a comprehensive digital ecosystem that provides significantly more value and reduces the risks to farmers.”
Henry Rahmann, Investment Officer at AfricInvest, commented on the investment, saying:
“We firmly believe Nile is transforming fresh produce trading in South Africa, empowering farmers by addressing their full range of needs—from inputs and trading to financing. We’re proud to back Nile’s exceptional team, alongside FMO, as they build an agri-tech champion, uplifting farming communities across South Africa and beyond.”
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
TUNL, a South African e-commerce logistics platform, has secured $1 million in pre-seed funding to tackle exorbitant international shipping costs and empower local businesses.
Trella, an Egyptian-based logistics startup, has raised $3.5 million in a recent funding round led by Avanz Capital.
Insight Terra has successfully closed a $5.7 million Series A extension funding round, positioning itself to expand its AI-driven greenhouse gas (GHG) and environmental risk management platform.
© 2021 Empower Africa. All rights reserved.
