Kenyan agritech startup Shamba Pride has secured $3.7 million in funding from the European Union’s agriculture initiative, EDFI AgriFI, and Seedstars Africa Ventures.
The investment, including $1.7 million in equity, aims to strengthen operations in Kenya and expand its merchant network.
Founded in 2016 by CEO Samuel Munguti, Shamba Pride serves as an agricultural trade ecosystem, providing online-to-offline tools for agro-dealers.
This enables them to offer farmers high-quality products, services, and information. The latest funding follows a previous investment of $1.1 million two years ago.
Munguti highlighted the impact of agro-dealers on rural agricultural distribution, emphasising that the new funds will empower them with technology to enhance visibility, support local farmers, and foster professional development.
Shamba Pride focuses on Kenya’s small-scale farmers, constituting 33% of the GDP and employing over 40% of the population.
The startup, operating in 24 Kenyan counties, plans to expand its reach within the country and explore markets in Tanzania, Uganda, and Zambia to address similar challenges in the farm input supply chain.
The agritech firm currently serves over 60,000 farmers and 2,700 agri-retailers, with intentions to grow further in the upcoming year.
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