Kenya-Based Aquaculture Tech Victory Farms Secures USD 5 Mn Funding

Victory Farms, an aquaculture startup, and farm for tilapia fish comprising hatcheries, nursery ponds, and deep-water cages, has raised USD 5 Mn in new funding. The investment was led by Ed Brakeman, a senior managing director at Bain Capital, and Hans den Bieman, founder and ex-CEO of Mowi. The funding will allow the Kenyan-based company to expand its business into Rwanda, DRC, and Tanzania.

Victory Farms is an aquaculture farm for tilapia fish comprising hatcheries, nursery ponds, and deep-water cages for farming. The firm uses technology to produce more fish and drive down costs simultaneously for the thousands of vendors who buy fish in small batches to cook and sell in local food markets.