Home ECONOMY East Africa Fruits Raises $2.05 Million Funding

East Africa Fruits Raises $2.05 Million Funding

by biasharadigest

Tanzania’s East Africa Fruits Company which provides fresh produce distribution services has raised $2.05 million (KSh218 Mn) in its round of Series A equity funding. The company’s goal is to improve efficiencies in the farm-to-market sector.

Investors who took part in the round of funding were Goodwell Investments, FINCA Ventures and elea.

According to the firm, they will use the funding to build essential supply chain infrastructure, improve the transportation of fresh produce from farms to urban markets, and strengthen livelihoods for small-scale farmers and food vendors.

The company will also acquire new machinery for its main distribution center and build essential technology to collect, store, and distribute produce to match demand more accurately.

The completion of our Series A funding opens up incredible opportunities for us. We’re eager to scale our operations, expand the reach of our smallholder farmer network and our distribution footprint, and ultimately to demonstrate real impact in the lives of local farmers and informal food vendors.

Elia Timotheo, Founder and CEO, East Africa Fruits

East Africa Fruits provides a stable, fair market for horticulture crops by aggregating supply and demand and improving cold chain distribution and warehousing infrastructure that reduces post-harvest loss and increases availability and quality of produce in local markets.

East Africa Fruits is a social enterprise integrating sellers with buyers of fresh fruits, vegetables and grains. It also supports smallholder farmers on crop planning in alignment with marketplaces, upgrading farm-side infrastructure and transitioning to sustainable practices.

See Also:

Kenyan Start-up, Fuzu, Secures KSh390 Million Series A Funding

Africa Focused Samasource Raises $14.8 Million in Series A Funding

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