Africa's tech startups see increase in investment
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Tanzania, Sept. 25 -- Nairobi. Venture capital in Africa is being boosted by investments in companies connecting farmers and food producers to retailers (known as "midstream technologies") according to an investment report that shows African agrifood tech startups raised US$ 1.1 billion in five years.
Last year, investments into agrifood tech - startups seeking to disrupt the global food and agriculture industry - in Africa hit US$ 482.3 million. Of this, 61 percent went to midstream technologies. In 2020 startups in this sector raised US$185 million.
Venture capital firm, AgFunder, in its first Africa Agrifoodtech Investment Report, 2022 shows startups using software to fill in critical infrastructure gaps, including agribusiness marke...
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