Accra, April 26, GNA – Farmerline Group, the Africa continent’s amazon for African farmers has secured an estimated GHC 97 million in Pre-Series ‘A’ investment and working capital to strengthen its supply chain for agribusinesses.
The investment would also help to reduce the cost of farming; and increase yield for farmers on the continent through the deployment of AI technology and local infrastructure.
The lenders of the working capital include; DEG, Rabobank, Ceniarth, Rippleworks, Mulago Foundation, Whole Planet Foundation, Netri Foundation and Kiva.
The Farmerline Group made this known in a press release copied to the Ghana News Agency on Tuesday.
It said: “Currently, post-harvest losses of food cereals in Sub-Saharan Africa are estimated at $4 billion due to factors such as access to timely agronomic education. Meanwhile, fertilizer use is 14kg per hectare as compared to 120kg for their counterparts globally.
“With this new investment, we will scale the AI capabilities within Farmerline’s Mergdata platform to help increase the income of farmers and agribusinesses; supporting them to access farm inputs; supplying them with assets such as tricycles, tractors and threshers; and connecting them to global markets.”
GNA