Complete Farmer Raises $10m to Scale in Ghana - Unlocking Africa's Agritech Potential

Highlights

• Agritech Complete Farmer has raised a recently concluded $10.4 million pre-Series A funding round ($7 million equity and $3.4 million debt). 
• The Ghanaian startup provides an end-to-end agricultural marketplace that connects African producers and global industries to competitive markets, resources, data, and each other.
• The funding, involving names like Acumen, Alitheia, Goodwell Proparco, and more, will be used to scale its products, forge strategic partnerships with key stakeholders, bolster its team, and expand domestic operations.

Source: TechCrunch

Our Takeaway

Sub-Saharan Africa has the potential to increase its agricultural output and overall contribution to the economy, however, the sector still needs to be tapped largely due to a lack of access to quality farm inputs and infrastructures like warehousing and market access. Startups like Complete Farmer address some of these issues while also contributing to Africa’s rise as a global leader in agritech. Between 2016 and 2019, the industry grew by 44% year-on-year, and the continent has registered the highest number of agritech services in the developing world reaching more than 30 million smallholder farmers as of 2021.