After winning the 2018 Seedstars Global prize AgroCenta is looking forward to funding worth $750,000 in its new round of funding. It managed to raise a third of the money. This came from US investor according to Michael Ocansey the company’s co-founder. It got a total of $230,000 from the investor.
Launched in 2015, AgroCenta offers an online market for small-scale farmers to sell their commodities directly to buyers. The startup was founded by Francis Obirikorang and Michael Ocansey. A German-based venture startup Greentech Capital Partners is leading the latest funding round. The startup in partnership with other investors gave $200,000 of investment to AgroCenta startup. AgroCenta has other investors like Isabaltic Trust. The startup is based in New York and it offers family investment platform. It also has investors like Frontier Business Solutions and investment firm from Ghana, Jordan based Technical Facility and the World Trade Organization.
According to Ocansey, it was important for AgroCenta to attend the Seedstars Summit in Switzerland. He and the other co-founder were able to get in touch with potential investors. Furthermore, they got in touch with mentors who helped then a lot. They met those who have already achieved what others are working on achieving now. Some of the investors have worked in Accra and some have worked across Africa. a number of them have worked with the companies that others are currently working with.
They have experience from other companies and they know what to do to be successful. They are able to give the best advice so as to reduce on many mistakes. Orbirikorang said that winning the award will have a great impact on the company’s future success. The award will open up learning, growth and funding opportunities in future. Startups in emerging economies lack many things. They run short of infrastructure and other important tools like mentoring and networking.