Kenyan agri-tech startup Shamba Pride has raised US$3.7 million in pre-Series A debt and equity funding to help it expand its operations and impact. Shamba Pride is a one-stop online-to-offline platform that connects smallholder farmers to quality inputs, services, and information through technology-powered “DigiShops”. The investment aims to support Shamba Pride as it expands current activities in Kenya and develops additional services. “Support for Shamba Pride reflects our commitment to empowering entrepreneurship in frontier markets, with a high impact felt in rural areas. By providing appropriate long-term debt alongside additional equity investment, EDFI AgriFI is poised to play a pivotal role to help scale up Shamba Pride operations,” he said.

Source: The North Africa Journal January 24, 2024 07:57 UTC