Zambian agritech startup Good Nature Agro, that specializes in legume value chains has closed Series A equity funding round raking in a total of US$2.1 million according to a news report by africaglobalfunds.com.
Goodwell Investments led the roundof funding with participation from existing seed investors Global Partnerships and FINCA Ventures.
The fresh capital will enable Good Nature Agro’s to build up essential value-add processing infrastructure in Central and Eastern Zambia, to accelerate the growth of their full-farm extension services for smallholders, and connect these farmers to large-scale agribusinesses and food processors seeking hassle-free sourcing, as well as to further their seed breeding program.
“Agriculture in Zambia and Southern Africa, much like the rest of the continent, has an enormous social and economic footprint. However, the region’s full agricultural potential remains largely untapped due to supply chain challenges and low processing capacity,” said Mercy Zulu, Investment Associate of Goodwell Investments.
“Through its business model and exceptional team, Good Nature Agro is addressing many of these issues by providing access to credit, inputs, critical technical services, and market linkages in a way that benefits smallholder farmers and promotes sector growth. This makes the company a good fit for uMunthu’s inclusive agribusiness strategy. We are excited that our investment will support the next phase of the company’s growth, and we look forward to working with the team on this journey.”
“We believe that every farm – regardless of size – deserves a partner who sees enough value in their capacity and their dreams to engage with them as individuals and families. Our focus on personal advice and service delivery to farmers even as we scale is the key to our social impact and our momentum,” said Carl Jensen, Co-founder and CEO of Good Nature Agro.