Nigeria’s agritech startup, Releaf, which develops proprietary hardware and software solutions to industrialise food processing, has raised $2.7 million seed funding and grants.
The round was led by Samurai Incubate Africa, Future Africa and Consonance Investment Managers with participation from Stephen Pagliuca, Chairman of Bain Capital and Justin Kan (Twitch). Releaf also secured $1.5 million in grants from The Challenge Fund for Youth Employment (CFYE) and USAID.
The seed funding will enable the startup to develop industrial food processing technology in Nigeria’s smallholder-driven oil palm sector, while the grant will enable Releaf to provide working capital and other value-added services for smallholders and small-scale processors…
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