Agri-Tech Startup Nile Secures US$11.3 Million Funding to Drive Digital Transformation for Farmers in Southern Africa
The company plans to significantly grow its agricultural inputs marketplace and launch innovative financing solutions in partnership with leading banks, ultimately enhancing farmer access to markets, essential tools, and crucial capital.
Nile , a leading agri-tech startup revolutionizing food trading, has successfully raised a ZAR200 million (approximately US$11.3 million) funding round. The investment was led by the Cathay AfricInvest Innovation Fund, with co-investment from FMO, the Dutch entrepreneurial development bank. Existing investor Platform Investment Partners also participated, marking a significant boost to Nile’s mission of empowering farmers through digital solutions.
Founded in 2021 by Louis de Kock, Eugene Roodt, and Rick Kleynhans, Nile provides comprehensive digital solutions designed to address critical pain points in food trading. These include enhancing price transparency, improving quality verification, accelerating payment speeds, ensuring produce traceability, and reducing food waste. The company had previously secured a US$5.1 million funding round in 2022, demonstrating consistent investor confidence.
The newly acquired capital will accelerate Nile’s expansion across Southern Africa. The company plans to significantly grow its agricultural inputs marketplace and launch innovative financing solutions in partnership with leading banks, ultimately enhancing farmer access to markets, essential tools, and crucial capital.
“We have been surprised by how quickly farmers have embraced our digital way of trading. Having built critical mass, we now have the unique opportunity to use the new funding to build a comprehensive digital ecosystem that provides significantly more value and reduces the risks to farmers.”
–Louis de Kock, CEO, Nile.
“We’re proud to back Nile’s exceptional team, alongside FMO, as they build an agri-tech champion, uplifting farming communities across South Africa and beyond.”
–Henry Rahmann, Investment officer, AfricInvest.
This funding is set to significantly bolster Nile’s efforts in fostering a more efficient and resilient agricultural sector by providing farmers with better access to inputs, finance, and both local and international produce markets.
