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AgVenture, a Nairobi-based company focused on promoting sustainable farming practices for non-irrigated, cereal-based systems, has raised $9.5m funding in an investment led by AgDevCo. The company will use the financing round to further optimize its capacity to produce more canola oil while scaling its operations.
Agventure is headed by CEO Don White and was founded by a cooperative of farmers, researchers, educators, and entrepreneurs aimed at developing regenerative methods of agriculture. The organization models and promotes methods that can be shared and adopted across the broader food system.
The firm delivers over 45,000 tonnes of food crops to domestic markets in Kenya, wherein a diverse portfolio of crops is grown by the company, including wheat, barley, maize, canola, sunflower, green peas, chickpeas, lupins, and fava beans among others. The focus of the company is on increasing non-irrigated farming system productivity and sustainability while ensuring regional food security.
It will enable Agventure to further strengthen its canola oil production business-a main thrust area of its strategy to diversify crop outputs and boost value-added processing locally. Through this, Agventure will have an impact on the food systems at its locale and the broader agricultural development by making a worthwhile difference through its work with smallholder farmers and promotion of sustainable practices.
It was involved in this round, which underscores its focus on investments in businesses that develop agriculture in Africa, especially promoting food security and supporting farmers’ livelihoods in underserved regions. This new fund will allow Agventure to expand its operations even further and advance its mission of helping to grow regenerative farming practices throughout Kenya and beyond.
source: finsmes
