Releaf, a Nigerian agritech company, raised $250k in funding.
Plesion Capital made the investment.
The company intends to use the funds to expand its efforts to industrialize food processing in Africa.
Led by Co-founder and CEO Ikenna Nzewi and Co-founder and CTO Uzoma Ayogu, Releaf has developed a supply chain technology platform, which combines hardware and software solutions to scale Africa’s agricultural sector in a way that makes it more rewarding for farmers, food factories and consumers. It localizes food processing technology in farming clusters to increase quality and reduce logistic costs. Releaf also finances, sources and processes crops at scale, enabling farmers to focus on farming and factories to focus on processing. Farmers who are connected to Releaf’s sourcing and logistics application tool (SALT) are able to provide updates about their palm nut inventory and confirm the price and volume of palm nuts available for sale. SALT also provides farmers with training on land preparation, spacing, and planting, as well as support in sustainable land management to improve their resilience to climate change.
Plesion’s investment follows Releaf’s recently closed $3.3m pre-Series A round.
FinSMEs
28/02/2023