Kenyan agriculture technology startup Shamba Pride has secured $3.7 million in pre-series A funding to improve the distribution of farm products and address the challenges faced by farmers in Kenya and neighboring countries.
This investment will fuel the company’s expansion within Kenya and its entry into markets like Tanzania, Uganda, and Zambia.
Shamba Pride’s Impact on Rural Farmers
Shamba Pride empowers rural farmers through digital transformation of agro-dealers. This involves:
- Providing digital tools: Agro-dealers use Shamba Pride’s platform for business management and inventory ordering, ensuring a steady supply of essential agricultural inputs like fertilizers and seeds to millions of small-scale farmers.
- Extending market connections: Farmers gain access to wider markets and competitive prices through the platform.
- Offering Buy Now Pay Later (BNPL) services: This helps farmers overcome financial constraints and invest in their farms.
- Providing training information: Shamba Pride’s USSD platform delivers valuable agricultural knowledge and best practices to farmers.
Focus on Small-Scale Farmers
Shamba Pride’s primary focus is on small-scale farmers, who play a crucial role in Kenya’s economy. Agriculture contributes 33% to the country’s GDP and employs over 40% of the population, especially in rural areas.
With 65% of export earnings attributed to this sector, it’s clear that supporting small-scale farmers is essential for Kenya’s economic success.
Shamba Pride’s Founder and CEO, Samuel Munguti, speaking on their mission has this to say,
“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 the right support for farmers around them.”
Innovations Driving Shamba Pride’s Success
Maxime Bouan, a general partner at SAV, an investor in Shamba Pride, highlights the company’s innovative approach:
“Shamba Pride’s success is rooted in innovations supporting daily farming activities. This scalable model not only generates additional revenues for farmers and agro-dealers but also plays a pivotal role in fostering successful women’s entrepreneurship.”
Shamba Pride also strategically sources inventory from partners like Elephant Verve, a French multinational providing “climate-smart” farm inputs, to build resilience for small-holder farmers in the face of climate change.
Expansion into New Markets
Shamba Pride’s expansion into Tanzania, Uganda, and Zambia holds the potential for significant economic benefits in these regions. The startup’s solutions are expected to:
- Increase income opportunities for farmers through improved market access and streamlined supply chains.
- Foster entrepreneurship through the growth of agro-dealer networks.
- Diversify local economies and create jobs.
- Encourage sustainable economic practices.
Shamba Pride is more than just an agritech startup; it’s a force for positive change in rural Africa. By empowering farmers, supporting agro-dealers, and driving innovation, the company is helping to build a brighter future for millions of people.