*Data updated daily at 18:00 EAT
FarmWorks, a Kenyan agritech that provides farmers with access to farm inputs, and market for their produce, has raised USD 4.1 M in a pre-Series A round led by Acumen Resilient Agriculture Fund, an existing investor. Livelihood Impact Fund, Vested World, a number of family offices, and angel investors also participated in the round that brought the total equity funding raised by FarmWorks to USD 5.6 M.
FarmWorks runs an out-grower scheme that brings together over 2,000 smallholder farmers, which has helped it to build a supply chain network that ensures timely delivery of quality produce. The startup provides farmers with farm inputs, and pest control services, and buys their produce for export, or local sales. It also provides them with farming equipment like drip irrigation kits, on loan. The startup also teaches the farmers on good agricultural practices, which it demonstrates on its own trial farms.