Agriculture plays a crucial role in Africa’s social and economic development, accounting for a significant portion of the region’s GDP. However, limitations in supply chain and infrastructure have hindered Africa’s participation in global supply chains. To address this issue, Ghanaian agritech company Complete Farmer has raised $10.4 million in a recent funding round to enhance farming practices and infrastructure in the region.
Key Takeaway
Ghanaian agritech company Complete Farmer has raised
0.4 million in funding to transform farming practices and enhance infrastructure in Africa. The company’s data-driven cultivation protocols enable smallholder farmers to farm more efficiently, produce superior commodities, and access global markets. With its projected revenue growth and expansion plans, Complete Farmer is set to drive positive change in the agricultural sector.
Investment and Partnerships
The funding round was co-led by Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital. Other participants included Proparco, Newton Partners, VestedWorld Rising Star Fund, Sahel Capital’s SEFAA Fund, Alpha Mundi Group’s Alpha Jiri Investment Fund, and Global Social Impact Investments. The funds raised will be used to develop critical technical and physical infrastructure, enabling farmers to access quality inputs, agronomical support, and premium markets.
Complete Farmer’s Platform
Complete Farmer is an end-to-end agricultural marketplace that connects African producers and global industries. The platform leverages proprietary cultivation protocols to ensure compliance with global market specifications, thereby facilitating post-harvest offtake. The company has undergone several iterations since its launch in 2017 and has successfully brought together over 12,000 farmers across Ghana.
Enhancing Productivity and Market Access
Complete Farmer’s CEO, Desmond Koney, recognized the need to enhance productivity and meet the specific quality requirements of large buyers. The company developed data-driven cultivation protocols to help smallholder farmers farm more efficiently and produce superior commodities. This approach has resulted in increased yields, improved income for farmers, and access to global markets.
Expansion Plans and Revenue Growth
The recent funding will enable Complete Farmer to scale its operations and introduce new products to generate additional revenue streams. The company plans to launch an embedded finance product to facilitate direct remittance from buyers to farmers and a vendor platform for farmers to purchase fertilizers and commodities. With its projected revenue of $7.5 million for this year, Complete Farmer is poised for further growth and expansion.
