Farmshine has secured $250,000 to scale its business model. The Nairobi-based agritech startup secured the recent funding from Gray Matters Capital.
Farmshine is an agritech startup that aids female subsistence farmers to leverage technology in boosting their income. The Nairobi-based startup teaches farmers climate-smart agriculture techniques. Its model grants smallholder farmers access to sell their harvests directly to large commodity companies.
With the recent funding, Farmshine will hire and train more field agents that will help them reach more farmers. The startup also plans to develop its platform to connect the agroecosystem.
Farmshine is the second startup Gray Matters Capital is funding in Nairobi. The impact investor funded Taimba a B2B earlier in July. In total, the investor has funded 5 African startups viz; Rwanda’s ARED, Ghana’s Redbird Health Tech and Nigeria’s Sonocare and Kenya’s Farmshine and Taimba.
According to Luca Allinovi, the founder and CEO of Farmshine, the platform was designed with a ‘farmer-first approach’.
Luca said “It can be easily replicated for any value chain in any country, and can scale from thousands to hundreds of thousands of farmers.”
The platform plans to introduce its model to the United Nations, Kenya-based NGO’s and other African countries in 2020.
More on TechGist Africa
- Google Founders Sergey Brin and Larry Page Resigns as Alphabet CEO
- MTN Launches MTN Homeland Its Mobile Remittance Application
- Microsoft & AfDB Launches New Digital Skills Training Platform
- NCC Report: Telco’s gain over 800,000 Internet Subscribers in October
- NileSat, French-based Thales Alenia to Manufacture 301 Communication Satellites