Kenyan Agritech, Shamba Pride, Raises $3.7 Million to Fuel Growth

Kenyan agritech startup Shamba Pride has announced a significant $3.7 million pre-Series A funding round, injecting fresh capital to fuel its operational expansion and solidify its position within the country’s agricultural technology sector.

The investment, parttaked by the European Union agriculture financing initiative, EDFI AgriFI, and Seedstars Africa Ventures (SAV), comes as Shamba Pride experiences a surge in demand for its digital platform connecting farmers with essential resources and market opportunities. The funding includes $1.7 million in equity.

The startup’s customers base has reportedly over 1000 shops in the past year, driven by $1.1 million funds its raised in 2022 from Seedstars Africa Ventures and Gray Matters Capital which it used to focus on addressing the pain points faced by Kenyan farmers.

“This funding is a tremendous validation of our mission to empower Kenyan agriculture through technology,” said Samuel Munguti, founder and CEO of Shamba Pride. “Agriculture distribution in rural communities is heavily controlled by agro-dealers who decide how farmers access inputs, services and training. We are empowering these agro-dealers by giving them the right tools and technology for visibility of their businesses, for their professional and commercial development and right support for farmers around them,” he told TechCruch.

Shamba Pride’s platform offers a diverse range of services, including:

Direct connection to input suppliers: Farmers can access seeds, fertilizers, and other agricultural inputs at competitive prices through the platform’s network of verified merchants.

Market linkages: The platform facilitates direct sales to buyers, eliminating exploitative middlemen and ensuring farmers receive fair value for their produce.

Financial services: Shamba Pride partners with financial institutions to provide farmers with access to loans, insurance, and other financial products tailored to their needs.

Educational resources: The platform offers valuable information on best agricultural practices, market trends, and weather forecasts, empowering farmers to make informed decisions.