Kenya’s Agritech startup, Farmshine, has raised a $250,000 (KSh 25.5 million) funding from US-based impact investor Gray Matters Capital’s gender lens sector-agnostic portfolio – GMC coLABS.
According to a statement from Gray Matters Capital, Farmshine will use the funding to hire and train personnel, including field agents. It will also use it to further develop the platform to connect the agriculture ecosystem.
Farmshine’s platform connects farmers with the information, suppliers and service providers they need so as to minimize costs and maximize harvests. The startup operates a global agriculture platform where farmers, buyers and service providers can trade on mutually beneficial terms.
As reported by African Business Communities, Farmshine’s agriculture operating system enables smallholder farmers to aggregate and sell their harvests directly to large commodity companies.
Additionally, their mobile app ensures that farmers are offered clear, fair and reliable contracts from legitimate buyers. Every activity takes place through the app – including contract agreement, production management, crop aggregation, and delivery and payment – ensuring full transparency among the parties.
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