Champa is proud Since 2016, it has worked to enhance the final distribution of agricultural inputs and address the problems of price and quality exploitation for farmers through its trade network called com. digishops.
The agricultural company has so far built a network of 2,700 dealers (agri-dealers) spanning across 24 counties in Kenya, representing just over half the country’s area. It now plans to expand further in the country to cover more retailers and agricultural areas next year, and later explore neighboring markets such as Tanzania, Uganda and Zambia, which face similar challenges in the agricultural input supply chain, such as sourcing, unpredictable prices and quality. . Challenges and stock outs.
Its growth in Kenya, which also includes expanding its franchise network, will be fueled by pre-Series A funding of $3.7 million in debt secured by the company from the EU Agricultural Finance Initiative EDFI AgriFI and Seedstars Africa Ventures (SAV). The new financing, which includes $1.7 million in equity, follows a $1.1 million capital raising in 2021 from SAV and Gray Matters Capital.
Shamba Pride digitizes agricultural traders to run multiple tasks including business management and inventory ordering, ensuring availability of supplies such as fertilizer and seeds to millions of small farmers in rural areas.
“The distribution of agriculture in rural communities is closely controlled by agro-traders who decide how farmers receive inputs, services and training. “We are working to empower these agro-traders by giving them the right tools and technology to showcase their business, for their professional and business development and the right support for the farmers around them,” Founder and CEO of Chamba Pride, Samuel MongotiTechCruch said.
The agtech company also provides farmers with market links, “buy now, pay later” (BNPL) financial services and training information through its USSD platform.
It mainly targets small farmers who are part of Kenya’s agriculture sector, which contributes 33% Of the country’s gross domestic product, it employs more than 40% of the country’s population and more than 70% of the population of rural areas. It also accounts for 65% of its export earnings, making it a key sector of the country’s economy and a focus area for innovators.
“Shampa Pride’s success depends on innovations that facilitate everyday agricultural activities. We are proud to support a scalable model that creates additional revenues for farmers and agro-traders (agro-traders) ) and contributes strongly to the success of women’s entrepreneurship.” One million dollars from the European Investment Bank and the African Development Bank, respectively.
SAV is a sector-neutral fund keen on startups that meet basic needs such as education, healthcare and utilities, or enhance goods, services and efficiency.
Champagne Pride sources its stock from partners such as French multinational Elephant Verve, which supplies it with “climate-smart” agricultural inputs, which is part of an agri-tech strategy to build resilience for smallholder farmers.