Ghanaian end-to-end digital farming platform Complete Farmer has raised an undisclosed amount of funding from Ingressive Capital as it plans to expand into other markets.
Founded in 2017, Complete Farmer allows users to own shares in tech-enabled farms. Over the past three years, it has implemented a crowd-farming model with a total of 7,200 acres of production serving commodities to Asia, Europe and the rest of the world.
Complete Farmer’s platform currently supports over 2,000 acres of farmland across six regions in Ghana, and the startup plans to expand its operations to Kenya and Togo. This goal has become a lot closer after it became the 21st portfolio company of Ingressive Capital, with a wider round in the works.
Ingressive Capital is a venture capital fund that targets pre-seed and seed stage tech businesses in both the B2B and B2C spaces. Last year it announced a new US$10 million fund, and it has been gradually adding new portfolio companies to add to the likes of Paystack, 54gene and Tizeti.
Desmond Koney, chief executive officer (CEO) of Complete Farmer, said he was excited about the next chapter and the startup’s partnership with Ingressive Capital.
“Together, we believe we are going to transform agriculture using technology and innovations to realise Africa’s potential to feed the world. With the network within the Ingressive capital family and the synergies with the existing portfolio companies, this partnership gives us the needed resources to become global pioneers in making Africa’s agriculture more efficient and competitive,” he said.
Uwem Uwemakpan, VP of fund operations at Ingressive Capital, explained the rationale behind the firm’s investment.
“This investment comes at the right time as many African farmers have struggled to bounce back from the ripple effects of the coronavirus pandemic amongst a host of other policy and infrastructural problems Complete Farmer is solving,” he said.