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Ghanaian Agri-tech startup, Farmerline, seals $12.9m pre-Series A funding

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A Ghanaian Agri-tech startup, Farmerline, has secured a $6.4m pre-Series A investment funding, plus another $6.5m in debt financing to help it expand.

The funding is Farmerline’s first raised equity since launching with a $600 grant almost a decade ago.

Lenders of the $6.5 million debt financing include DEG, Rabobank, Ceniarth, Rippleworks, Mulago Foundation, Whole Planet Foundation, Netri Foundation and Kiva.

The firm which prides itself as the “Amazon for African farmers”, was launched in 2013 by the duo of Alloysius Attah and Emmanuel Owusu Addai, and partners with agri-businesses and farm associations to support farmers across the African continent with high-quality fertiliser and seeds, free education on climate-smart farming practices, and an access to international markets.

According to Attah, the Farmerline marketplace combines digital tools with logistics, field agents, farm resources and strategic partnerships, while the company’s in-house technology platform, Mergdata, is “licensed by global food traders and manufacturers who use its customisable tools to improve the lives of farmers around the world.”

“To date, Farmerline has digitised over one million farmers through partnerships across 26 countries, and with the new funding on board, it is planning greater scale,” Attah said.

“At the peak of the pandemic, local agricultural SMEs played a vital role in ensuring food security, supporting farmers, supplying agricultural inputs, and distributing to final consumers.

“With this new investment, we will scale the AI capabilities within Farmerline’s Mergdata platform to help increase the income of farmers and agri-businesses, supporting them to access farm inputs, supplying them with assets such as tricycles, tractors and threshers, and connecting them to global markets,” he added.

“Farmerline’s goal has always been to create lasting wealth for farmers and their communities. To do that at scale, we’re expanding our operations across regions and are actively on the lookout for the best talent to help build an efficient supply chain that saves money for agribusinesses, reduces the cost of farming and the time it takes for people to get services to rural areas.

“We must ensure that local agribusinesses grow because when they do, we all succeed,” his partner, Addai said.

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Egyptian supply chain startup, OneOrder, secures $3 million funding to scale up expansion plans

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An Egyptian supply chain solutions startup, OneOrder, has successfully raised $3 million in seed to enable it achieve its aim of expanding beyond the MENA region, the company’s cofounder and CEO, Tamer Amer, announced on Tuesday.

According to Amer, the funding was led by angel investor, Nclude with participation from Delivery Hero Venture and A15.

The company which was in 2021, enables restaurants to order food supplies directly on its platform, thereby helping to tackle shortages, price fluctuations, product consistency and accurate delivery.

“As a startup, OneOrder is able to improve such efficiencies across the supply chain by using its proprietary technology, which helps ensure product availability, as well as fast and accurate fulfillment,” Amer said.

“By using the platform, restaurants can order supplies for next-day delivery, eliminating the need to pay for additional storage and warehousing costs, as well as cutting costs by leveraging OneOrder’s economies of scale,” he added.

The company has so far raised $7.5 million since its launch last year. The latest round of funding, according to Amer, will also be used to “expand the team, invest in its proprietary technology, and grow the startup’s warehouse footprint across Egypt and the MENA region.”

“As a restaurateur myself, I have witnessed first hand the avoidable overheads and hassles HoReCa businesses go through in serving their customers.

“We are delighted by the level of adoption and growth we have recorded over the past year which is a testament to the fact that we are addressing a huge unmet demand in our region,” he added.

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Kenyan asset recovery agency drops fraud charges against Nigerian fintech startup, Kora

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Kenyan Asset Recovery Agency (ARA), on Monday, withdrew fraud and money laundering charges it had filed against against Nigerian fintech startup, Kora.

The charges against the Nigerian startup by the Kenyan agency were filed in July following accusations of money laundering and card fraud in the eastern African country, with the ARA going further to freeze the accounts of the company.

However, new court documents released on Monday show that the ARA has filed a notice of withdrawal of the charges at the High Court of Kenya at Nairobi Anti-Corruption and Economic Crimes Division.

In the document which was filed by state counsel, Stephen Githinji, on behalf of ARA director, the agency said that it had withdrawn its suit in its entirety.

Another document issued by the Kenyan Directorate of Criminal Investigation (DCIA), also confirmed that the agency has cleared Kora of any wrongdoing.

“Please note that investigations are now finalised. I would like to confirm that allegations of money laundering and card fraud against [Kora] were not established. Please treat this communication as final,” the DCI report said.

Kora’s Chief Operations Officer, Gideon Orovwiroro, in a statement, also confirmed the development.

“Kora has always maintained its innocence in this matter and we are glad that finally the ARA and the DCI have dropped all charges and ratified Kora.

“We’d also like to commend both agencies for their professionalism and thoroughness in seeing this investigation to the conclusive end,” says

“We are delighted to get back to building the most robust payment product on the African continent. We have some exciting announcements coming soon, including multi-currency bank account products for African businesses.

“This will empower merchants to have bank accounts in GBP, EUR, USD and other in-demand currencies. Kora is excited about this development as it is further proof of its commitment to enrich the quality of merchants’ payments and build more meaningful financial products.”

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