Venture Capital Firm, AHL Venture Partners, the impact investment arm of Sweden’s Lundin Foundation has launched an equity investment in Kenya’s Crop Nutrition Laboratory Services Limited Cropnuts.
In a co-investment with DOB Equity, the new deal is expected to help Crop nuts fund its laboratory expansion plans and agronomy technology platform and subsequently increase the productivity of SME and smallholder farmers.
Crop Nuts is an agricultural laboratory and agronomy services company which provides Centralised Laboratory testing, Mobile Soil Testing Platforms, and agricultural advisory and feasibility services, to large, medium and smallholder farmers.
AHL Venture Partners continues to increase its impact-focused investment in the region. So far, it has invested in over 35 in 25 countries in Africa, including M-KOPA Solar, Zoona, Tulaa, and Twiga Foods.
Rosanne Whalley, Partner at AHL Venture Partners, said that Crop Nuts’ smart technology is helpful in improving food security and impacting millions of smallholder farmers in the region.
“Being a homegrown company with a 20-year track record in the market, we believe in Crop Nuts deep local and technical knowledge they have built up over the years. We see their diagnostic and advisory services, deployed through smart technology, as catalytic in improving food security and incomes for millions of smallholder farmers, as well as improving food safety standards,” she said.
DOB is a dutch family office which invests in innovative, scalable companies that positively contribute to a more social and sustainable society and deliver long-term profitability.
It has previously bought stakes in Kenyan based agro-processing company Ten Senses Africa, Countryside Dairy LTD, and Twiga Foods.