Village Capital, a venture capital firm focused on seed-stage startups, has announced its investment in two African agritech companies: Aquarech in Kenya and Coamana in Nigeria. Through Village Capital’s Reducing Inequalities Investment Facility, supported by FMO’s MASSIF Fund, Aquarech will receive $350,000 and Coamana $500,000.
Empowering Fish Farmers and Digitizing Agricultural Trade
Aquarech, which operates both B2B and B2C, provides fish farmers with a buy now pay later (BNPL) solution for fish feed. The startup also offers training and precision agriculture tools to help farmers adopt best practices and boost their incomes.
Coamana, founded by Hafsah Jumare in 2018, aims to digitize farmer management processes. Its marketplace, Amana Market, allows farmers and traders to sell products, secure loans, and access real-time market prices and purchase requests. The startup uses agent networks to integrate farmers and traders into its digital marketplace, enabling them to make informed decisions about when and where to sell their produce for optimal prices.
Driving Agricultural Innovation in Africa
These investments represent Village Capital’s latest ventures in Africa, with the firm having invested $1.6 million in three startups on the continent. This move underscores the growing trend of tech-driven agricultural startups in Africa, which are bridging the gap between farmers, consumers, and businesses within the agricultural sector.
“Village Capital is excited to invest in Coamana to accelerate its efforts in developing digital infrastructure for agricultural trade markets across Africa. This investment will enhance price transparency, efficiency, market linkages, and access to finance,” said Kavon Badie, Investment Officer at Village Capital.
Credit: TechCabal (Text Excluding Headline)
