Village Capital, a global nonprofit organization focused on early-stage investment, has announced substantial support for two African agritech startups, Aquarech from Kenya and Coamana from Nigeria.
These startups will receive investments of $350,000 and $500,000, respectively, as part of Village Capital’s Reducing Inequalities Investment Facility. The initiative is funded by FMO’s MASSIF Fund, which has already committed $1.6 million to four startups.
Aquarech, a B2B and B2C company, offers fish farmers a Buy Now, Pay Later (BNPL) solution for purchasing fish feed. The startup also provides training and precision agriculture tools, enabling farmers to adopt best practices and increase their incomes.
Founded in 2018 by Hafsah Jumare, Coamana aims to digitize farmer management processes. A key innovation is the Amana Market, a marketplace that allows farmers and traders to sell goods, secure loans, and access real-time market prices and purchase requests.
Coamana employs agent networks to integrate farmers and traders into its digital marketplace, providing real-time data that helps farmers decide when and where to sell their produce for the best prices.
These investments in Aquarech and Coamana represent Village Capital’s latest efforts in supporting tech-driven agricultural startups across Africa. The investments align with a growing trend of using technology to connect farmers, consumers, and businesses within the farming sector.
“We are excited to invest in Coamana, aiming to catalyze its efforts in developing digital infrastructure for agricultural trade markets across Africa. This investment is set to enhance price transparency, efficiency, market linkages, and access to finance,” said Kavon Badie, Investment Officer at Village Capital.
