Ghanaian Agritech Startup Complete Farmer, Secures $10.4m in Pre-Series A Funding Round to Drive Expansion Plans
Complete Farmer, a Ghanaian end-to-end agricultural marketplace that connects African farmers and global industries to resources, data, and each other, has secured $10.4 million in a pre-series A funding round to drive expansion plans.
The funding round was a mixture of equity and debt, with the equity portion co-led by the Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital via its uMunthu II Fund in partnership with Goodwell investments. They were joined by Newtown Partners, Proparco, and the vested World Rising star fund.
Debt financing was provided by Sahel Capital’s Social Enterprise Fund for Agriculture in Africa (SEFAA), Alpha Mundi Group through its Alpha Jiri Investment fund, and Global Social Impact Investments, to find both CAPEX and working capital investments in support of short and long-term growth.
Speaking on the funds raised, CEO of Complete Farmer Desmond Koney said,
“At Complete Farmer, we are on a mission to revolutionize Africa’s agriculture value chain, to ensure competitiveness for all stakeholders involved. We are thrilled to welcome our new partner investors, who are seasoned experts in the industry and have a profound understanding of our mission which enables them to make valuable contributions along our entire supply chain.
“It is a pleasure to have partners who share our belief in Complete Farmer’s potential impact on sustainable food production and food security in Africa and the rest of the world.”
Since its launch in 2017, Complete Farmer has brought over 12,000 farmers across five key regions in Ghana, and has overseen the cultivation of over 30,000 acres of land, delivering commodities to Asia, and other parts of the world.
The Agritech company is a one-stop resource that leverages proprietary cultivation protocols for crop production, enabling smallholder and commercial farmers to cultivate commodities that conform to global market specifications, thereby ensuring post-harvest offtake.
Complete Farmer provides producers and agricultural commodity purchasers with two primary solutions which are CF Grower and CF
Buyer. Its farmer-centric product, CF Grower, assists African farmers in optimizing their productivity, gaining access to global
markets, and enhancing their living standards through precision farming instruments and data-driven cultivation protocols
The Agritech platform has always been envisioned to be an end-to-end platform for the three key stakeholders on the agriculture value which are chain, food growers, food buyers, and food lovers.
On the platform, buyers have access to a vast network of qualified producers, can obtain quality-certified items through a streamlined digital process, and can monitor the progress of their orders from order to fulfillment transparently, giving them complete control over their procurement process.
Complete Farmer partners with some notable companies which include, Mest, tazapay, INGRESSIVE CAPITAL, Kepple Africa Ventures, Dimuto, SAMURAI INCUBATE, Callighana, and Ceniarth, amongst others.
The company’s vision is to create a world that eats together by working together. It disclosed that it remains determined to push the boundaries of what is possible.
