Shamba Pride Raises $1.1m Funding Round

Shamba Pride said it has raised a US$1.1 million funding round to support its expansion across the country and roll out its solution to over 1,000 shops.

According to Shamba Pride, its raised the US$1.1 million funding round from Seedstars Africa Ventures and Gray Matters Capital, aimed at supporting its national expansion and rollout of its digital solution to over 1,000 digitalized shops.

The funding will allow Shamba Pride to empower hundreds of thousands of smallholder farmers to boost their income and productivity through increased access to better quality inputs, education, financial services and market linkages.

Samuel Munguti, Shamba Pride CEO and Founder said: “Shamba Pride is revolutionising rural distribution systems for African farmers by transforming from traditional and informal systems to modern trade. Through Shamba Pride, existing last-mile agro dealer entrepreneurs are able to digitalise their operations and provide smallholder farmers with right and affordable technology, quality products and services. The model establishes a network of smart micro-entrepreneurs serving the smallholder farmer community, allowing farmers to increase their farm productivity, sustain their employment and their household income.”

“We are excited to have Seedstars Africa Ventures and Gray Matters Capital join the Shamba Pride family. Our momentum to revolutionize last mile distribution systems for African farmers has gained new momentum. The investment will propel our national growth to service hundreds of thousands of smallholder farmers while creating a reliable community of smart micro-entrepreneurs offering improved services to farmers,” Mr Munguti added.

Maxime Bouan, Partner at Seedstars Africa Ventures, said talented African early-stage entrepreneurs continue to lack funding despite providing tangible adapted solutions.

“We are convinced Shamba Pride’s online-to-offline model is perfectly suited to tap into a huge market opportunity by upskilling existing value chains and finally offering farmers the quality counterparts they deserve. Beyond capital, we will continue to actively support the company through additional market linkages and corporate partnerships within Africa and beyond to guarantee farmers obtain the best value,” Mr Bouan added.