In addition to the investment, the investors will also assist CowTribe with its marketing strategy and governance.
CowTribe is into the provision of on-demand mobile USSD-based subscription service which connects livestock farmers with veterinarians. The agritech also helps in the delivery of animal vaccines and other livestock healthcare services to farmers.
According to Awin Peter, the CEO and Co-founder of CowTribe, the investment was in the form of a convertible note, and the deal was finalised a week ago. He also disclosed that the funds would help the startup expand in Ghana, improve its delivery infrastructure and bring more users onto its platform.
Founded in 2016, the agritech which currently operates in three Ghanaian regions, has its eyes set on expanding to seven additional areas, including Brongh-Ahafo and Ashanti, and even to the Senegalese and Malian territory.
It is reported that CowTribe targets 100,000 farmers on its platform by the end of next year, all the way from the current 30,000 it works with.
This is not the first time the Ghanaian agritech is making the headlines, as it was among the four regional startups selected in May to pitch at the MEST Africa Challenge finals.
Also, in July, CowTribe won the Seedstars Accra pitch event head of none other tech startups. Then, in September, the Technical Center for Agricultural and Rural Cooperation (CTA) gave the startup a € 15 K at the Pitch AgriHack 2018 Competition held in Kigali, Rwanda.
In 2016, the company a runner-up at the British Council’s Duapa Challenge and one of the finalists at the same year’s edition of Pitch AgriHack.
Featured image courtesy: Cowtribe