Afrikamart, a Senegalese agritech startup, recently announced that it had completed a seed round of financing of $850,000 from several reputable venture capital firms. These firms include the BLOC Smart Africa fund, Orange Digital Ventures manage, Bamboo Capital Partners and Teranga Capital.
Mignone Diouf and Albert started Afrikamart in 2018. It is an agritech platform for moving fresh food. It works as a digitalized marketplace for people who shop at stores and eat at restaurants.
About two thousand farmers have so far provided fresh fruit to Afrikamart. These farmers deliver up to ten tons of fresh food daily to five hundred regular customers in four Senegalese cities.
The company’s goal is to get five thousand farmers and two thousand stores on board by the year’s end.
The company has plans on increased productivity, enhance market transparency and bolster consumer confidence, and broadening the selection of high-quality, locally grown produce that is made available to customers, reduce the amount of trash that is produced, get rid of the late payments that middlemen cause, and position themselves as the seller and buyers choice for both retailers and producers.
Afrikamart asserted that the increased investment would make it possible for the company to expand the amount of produce it buys from small-scale farmers located throughout the country as well as properly handle the logistics and final-mile distribution of fourteen different fresh vegetable kinds to street sellers, small merchants, hotels and restaurants, in Mbour and Dakar.