Ghanaian Agritech startup, Agrocenta raises $790k pre-series A

by | Feb 5, 2021

Ghanaian Agritech startup, Agrocenta has raised $790,000 pre-series A funding. The investors that took part in the round include Shell Foundation, FCDO, AV Ventures and Rabo Foundation.

Chief executive officer, Francis Obirikorang, and co-founder Michael Ocansey founded Agrocenta in 2015 and they operate a mobile merchanting platform that provides market information, storage and delivery solutions to smallholder farmers in Ghana.

The company claims the registered farmers on its app, CropChain, has rapidly grown from 3,000 to 48,000. These farmers handle crops like maize, rice, soybean, cowpeas, and sorghum.

The startup says it plans to use the recent funding to scale its agri-tech ecosystem and purchase crops from farmers. It also plans to develop its smallholder farmer inclusion programmes.

Advertisement

Recall that in 2018, the startup clinched several accolades at the Environment and Green Energy category at the World Summit Awards, the Young Entrepreneurs Competition at the World Export Development Forum and the Africa Social Good category at Tech Crunch Startup Battlefield Africa. 

In 2018, Agrocenta won the Seedstars World competition — an early-stage startup pitching competition –, receiving $500k in equity funding. By December of the same year, the company closed a seed round of equity and non-equity funding to scale its operations. 

The latest funding takes Agrocenta’s total disclosed funding to $1.9 million.

The startup’s chief executive officer (CEO) Francis Obirikorang and co-founder Michael Ocansey had this to say of the investment:

“This is a significant milestone for AgroCenta, having the support of leading institutions, particularly with the COVID-19 backdrop, underlining the strength of AgroCenta and the importance of its mission.”

“The demand for agricultural raw materials from off-takers in the brewery, manufacturing and consumer sector is increasing exponentially because of the easing of the COVID-19 restrictions that were put in place by the government of Ghana, hence this capital injection will help to secure purchases at fair and transparent prices from smallholders — a much-needed lifeline for many who are at the proverbial bottom of the pyramid.”

Emmanuel Paul
Emmanuel Paul

Writer and narrator of technology, business and policies in Africa . Looking to chat? Catch up with me (@eruskkii) on Twitter or send a mail to emmanuel@techpoint.africa

Advertisement


Are you in tech and you are looking at getting a foreign remote job or you want to move abroad? Fill this form and you will get the BEST resources to help you get that high paying remote job as well as japa easily! WAGMI!

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Recent News

Kenya’s digital products for PwDs

Kenya’s digital products for PwDs

On #TechpointDigest, Victoria Fakiya (@latoria_ria) discusses what Jumia’s partnership with CGAP could mean, and Kenya’s digital products for people with disabilities.

Reclaiming stolen African artefacts

Reclaiming stolen African artefacts

On #TechpointDigest, Victoria Fakiya (@latoria_ria) discusses how Traction wants to stop fake alerts, Canza Finance’s journey, Esaal’s $1.7m seed round, and JABU’s $15m series A.

[PODCAST] Relooting African art with NFTs

[PODCAST] Relooting African art with NFTs

What do you think about an NFT project that wants to reclaim Africa’s lost artefacts? Well, the editorial team had some interesting thoughts, and you can listen to this and other stories on today’s episode of #TechpointAfricaPodcast.

$2 million to drive learning via WhatsApp 

$2 million to drive learning via WhatsApp 

On #TechpointDigest, we discuss how major players in the African mobility space can change the mobility narrative, FoondaMate’s $2 million funding, Twitter Create, and AMP’s $5.6 million seed round.

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Blockchain Explorer

Analysis oninnovation, regulations, and trends inthe blockchain sector, as it concerns Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap