Releaf has raised $3.3 million in a pre-series funding round despite recent funding difficulties in the tech ecosystem.
The firm said it intends to use the funding to support the launch of its two new technologies, Kraken II and SITE.
It stated that the funding round was led by Samurai Incubate Africa, with participation from Consonance Investment Managers and others. In a statement, the Chief Technology Officer and Co-founder of Releaf, Uzoma Ayogu, said, “SITE and Kraken II are the next steps in our plan to fundamentally transform the efficiency of agricultural supply chains in Africa and we are excited to have partnered with an exceptional cohort of investors and collaborators to roll out these technologies.
“To make food supply chains profitable, we must maximise extraction yields with leading processing technology and minimise logistics costs by bringing processing capacity closer to farmers. Before Releaf, stakeholders had to choose between one and the other — large factories had great technology but were far away, leaving most farmers with rudimentary technology to process their crops. We are now able to maximise both.
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