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South African agri-tech startup Nile, which enables buyers to purchase directly from Africa’s leading food producers through its marketplace, has raised a ZAR83 million (USD 5.1 Mn) equity funding round led by Naspers Foundry. Other investors included Platform Investment Partners, Raba Capital, and Base Capital.
Nile provides farmers with digital solutions that can address various pain points inherent to food trading, including price transparency, quality verification, speed of payments, the traceability of the produce, and food waste. The startup’s end-to-end process connects farmers to commercial fresh produce retailers both in South Africa and across the continent. The B2B platform facilitates transactions and safeguards payments on behalf of farmers, resulting in increased transparency and improved cash flow.