South African agri-tech startup Nile has secured a $11.3 million investment in a move that holds critical importance for its mission to accelerate digital transformation for farmers.
The company, founded in 2021, aims to enhance price transparency, improve payment speeds, ensure product traceability, improve quality verification, and minimize food waste through digital methods.
Just one year after its founding, Nile raised a $5.1 million funding round, and this latest investment further highlights the trust and confidence investors have in the company.
The $11.3 million investment will significantly accelerate Nile’s expansion across South Africa. In addition to growing its marketplace, the company now has new opportunities to collaborate with banks to develop innovative financial solutions.
This will, in turn, greatly improve farmers’ access to markets, essential tools, and much-needed capital.
As a result, the effort to build a more efficient and resilient agricultural sector across the country is expected to gain serious momentum.