Introduction

Village Capital, a global nonprofit organization renowned for its focus on early-stage investment, has announced its backing of two innovative African agritech startups: Aquarech (Kenya) and Coamana (Nigeria). These investments are part of Village Capital’s Reducing Inequalities Investment Facility, supported by FMO’s MASSIF Fund.

Investment Details

Aquarech and Coamana will receive $350,000 and $500,000, respectively, from Village Capital. This funding is crucial for the expansion and development of their groundbreaking solutions in the agricultural sector. The Reducing Inequalities Investment Facility has so far invested $1.6 million across four startups, showcasing a strong commitment to fostering innovation in Africa.

Aquarech: Revolutionizing Fish Farming

Aquarech operates both as a B2B and B2C company, offering fish farmers a buy now, pay later (BNPL) solution for fish feed. Beyond financial assistance, the startup provides comprehensive training and precision agriculture tools. These resources help fish farmers adopt best practices, ultimately improving their incomes and operational efficiency.

Coamana: Digitizing Agricultural Trade

Founded in 2018 by Hafsah Jumare, Coamana aims to digitize farmer management processes through its marketplace products, Amana Market. The platform allows farmers and traders to sell their products, secure loans, and access real-time market prices and purchase requests. Coamana uses agent networks to onboard farmers and traders into its digital marketplace, enabling them to make informed decisions about selling their produce and ensuring they receive the best possible prices.

Bridging Gaps in the Agricultural Sector

The investments in Coamana and Aquarech are part of Village Capital’s ongoing efforts to support tech-driven agricultural startups in Africa. These companies are playing a crucial role in bridging the gap between farmers, consumers, and businesses, thereby enhancing efficiency and transparency in the agricultural sector.

Driving Innovation and Market Access

“Village Capital is thrilled to invest in Coamana to catalyze its efforts in building the digital infrastructure for agricultural trade markets across Africa. This investment will drive greater price transparency, efficiency, market linkages, and access to finance,” shared Kavon Badie, Investment Officer at Village Capital.