Ugandan Agritech Startup raises $11m In An ‘Unusual’ Funding Round
Grainpulse (formerly Savannah Commodities Company), the supply-chain platform for farmers in Uganda, has raised USD 11 Mn from the International Finance Corporation (IFC) and the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP).
The capital injection will help the startup to strengthen its farmer supply chain, increasing food production and economic growth in the country.
Grainpulse will use the loan to become a one-stop-shop for farmers, providing them with multiple services, such as fertilizer blending.
The company’s fertilizers are optimized to increase the yields of crops grown by Ugandan smallholder farmers. Grainpulse also buys these crops, including coffee, maize, and barley, from local farmers.
Read more from source article: https://weetracker.com/2019/12/17/ugandas-grainpulse-raises-usd-11-mn/
Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/