Grainpulse, a supply chain platform for farmers has secured $11 million. The Uganda-based platform will leverage the funding to link Ugandan farmers with fertilizers and new markets.
Grainpulse secures the funding from IFC (International Finance Corporation) and the Global Agriculture and Food Security Program (GAFSP).
Aside from connecting farmers with fertilizers and new markets, Grainpulse plans to boost its supply chain. The platform also plans to scale food production and economic growth in Uganda. The platform also plans to leverage the funds to become a multiple service provider for smallholder farmers in Uganda.
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According to Hannington Karuhanga, Grainpulse CEO and Founder, the partnership will help them grow to another stage.
“Our partnership with IFC will help Grainpulse move to the next stage of growth. We chose to work with IFC because it takes a long-term view of our partnership and adds value beyond financing, in areas such as farmer linkages. We are aligned with IFC on our goal of supporting Ugandan farmers,” he said.
The supply chain platform will also leverage the funding to launch an online platform. The new platform will grant farmers access to agro information. The platform will also train agro-input dealers and retailers on financial management skills.
Tomasz Telma, IFC’s Senior Director for Manufacturing, Agribusiness, and Services, said, “Supporting the agribusiness sector is a major focus for IFC in Africa. This investment in Grainpulse will contribute to food security and economic growth in Uganda by helping increase farmers’ fertilizer use and improving their access to markets.”
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