Winich Farms Raises $3M to Expand Fulfillment Centers, Technology
TLDR
- Nigerian agritech company Winich Farms secures $3 million funding to expand order fulfillment centers and enhance technology, led by Acumen Resilient Agriculture Fund.
- Winich Farms plans to lease buildings as regional fulfillment centers, reducing customer delivery times, with support from Climate Resilient Africa Fund, Marula Square, and others.
- Founded in 2020, Winich Farms connects rural farmers with retailers, processing orders through a network of over 4,000 agents, charging ₦720 per kilogram of paddy rice.
Nigerian agritech company Winich Farms has secured $3 million in pre-series A funding to expand its order fulfillment centers and enhance its technology. With the new funding, it plans to lease buildings as regional fulfillment centers, reducing customer delivery times.
The funding round was led by the Acumen Resilient Agriculture Fund (ARAF), contributing $2.5 million, with additional support from the Climate Resilient Africa Fund, Marula Square, Plug and Play Tech Centre, and Tekedia Capital. Sahel Capital provided $590,000 in debt.
Founded in 2020, Winich Farms connects rural farmers with retailers, processing orders via a network of over 4,000 agents. The company charges ₦720 ($0.43) per kilogram of paddy rice, excluding delivery fees, and has grown its gross merchandise value (GMV) by 300% to $30 million since 2022.
Key Takeaways
Winich Farms’ $3 million funding round will enable it to expand its distribution infrastructure and improve service efficiency across Nigeria. The company’s focus on leveraging fulfillment centers and digital financial tools for farmers will help it compete in Africa’s growing agritech sector, alongside other players like ThriveAgric and AgroMall. The investment aligns with broader goals of increasing agricultural productivity and food security in the region.
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