Grace Ashiru
Village Capital,a global nonprofit organization dedicated to early-stage investment, has thrown its support behind 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. This initiative is backed by FMO’s MASSIF Fund, which has already allocated $1.6 million to four startups.
Aquarech operates both as a B2B and B2C company, offering fish farmers a Buy Now, Pay Later (BNPL) solution for fish feed. In addition, the startup provides training and precision agriculture tools, enabling fish farmers to adopt best practices and enhance their incomes.
In 2018, Hafsah Jumare founded Coamona with the goal of digitizing farmer management processes. One of its key innovations is the Amana Market, a marketplace product that enables farmers and traders to sell their goods, secure loans, and access real-time market prices and purchase requests. To facilitate this, Coamona employs agent networks to integrate farmers and traders into its digital marketplace. This real-time data allows farmers to make informed decisions about when and where to sell their produce, ensuring they receive the best possible prices for their crops.
Coamona, alongside Aquarech, represents Village Capital’s latest investments in Africa. This investment aligns with the trend of tech-driven agricultural startups on the continent that are connecting farmers, consumers, and businesses within the agricultural sector.
Village Capital is 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,” stated Kavon Badie, Investment Officer at Village Capital.
