Shamba Pride Raises $3.7M in Pre-Series A Funding

Shamba Pride, a Kenyan agricultural technology company, has successfully raised $3.7 million in a debt-equity pre-series A funding round to bolster its merchant network expansion.

The funding, backed by the EU agriculture financing initiative EDFI AgriFI and Seedstars Africa Ventures (SAV), includes $1.7 million in equity.

This investment follows the $1.1 million capital raised in 2021 from SAV and Gray Matters Capital.

Since its inception in 2016, Shamba Pride has been dedicated to improving last-mile distribution for farm inputs and addressing issues of price exploitation and product quality for farmers through its merchant network, known as digishops.

The agtech firm has already established a network of 2,700 merchants, or agro-dealers, spanning 24 counties in Kenya, covering over half of the country.

Shamba Pride's innovative approach involves digitizing agro-dealers to streamline various tasks, including business management and inventory ordering.

This digital transformation ensures a consistent supply of essential agricultural inputs, such as fertilizers and seeds, to millions of small-scale farmers in rural areas.

Looking ahead, Shamba Pride aims to scale its operations within Kenya, reaching more retailers and agricultural regions over the next year.

Furthermore, it plans to venture into neighboring markets such as Tanzania, Uganda, and Zambia, where similar challenges in the farm input supply chain exist, including sourcing difficulties, fluctuating prices, quality concerns, and stockouts.

Source: Annie Njanja / TechCrunch