Thursday, July 24, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Agritech

Agricorp, a Nigerian-based agritech spices exporter, has raised $17.5 million in a Series A funding round

Tech Gist Africa by Tech Gist Africa
09/07/2021
in Agritech, Funding, News - West Africa, Venture Capital
0 0
0
Agricorp

Agricorp

0
SHARES
Share on FacebookShare on Twitter

Series A funding of $17.5 million was raised by Agricorp International, a Nigerian spice manufacturing, processing, and exporting company, to expand its processing capacity to 7000 metric tonnes.

This fund was raised through a partnership between Vami Nigeria, One Capital LLC, and AFEX. Vami, a Nigerian corporation, led the funding round with $11.5 million in stock, with the remaining investors providing working capital financing for the company. Accounting and transaction advisory services were provided by Ernst & Young (Nigeria), while legal advice was provided by Elisio Law Office and Pavestone Legal.

“We believe that by increasing our capacity to 7,000MT, we will maximize the potentials to boost Nigeria’s forex earnings through export, contribute our quota to improving the Nigerian GDP from agriculture, and serve as a worthy model to African youths who aspire to be agribusiness owners,” said Kenneth Obiajulu, Agricorp’s CEO. We want to demonstrate to them that it is both achievable and extremely rewarding”.

Lead investors, Vami Nigeria, stated that they led the round because they observed a clear growth path, significant social impact, an excellent financial trajectory, and worldwide cooperation with key partners. Most significantly, the team’s depth of knowledge, passion, and tenacity are unrivaled in the industry.

“Our other businesses have dealt with Agricorp on a number of occasions and have witnessed the company’s growth over time,” said Samirah Ade-Adebiyi, Managing Director of AFEX. We are now committed to providing them with the working capital they require in order to develop their operations to any degree they desire.”
For Nigeria to be placed on the global export radar, it will be necessary to take a risky strategy, leveraging investments to construct simple processing systems for spices and other agricultural products. As a forward-thinking organization, Agricorp aspires to be at the forefront of efforts to improve global food systems.

Agricorp, which was established in 2018 by Kenneth Obiajulu and Wale Omotimirin, is helping in addressing the increased demand for spices as an export commodity globally.

 

Read more on Tech Gist Africa:

South African agritech startup Khula secures $1.3 million in funding to scale its operations

Green Gold Farms, a Ghana-based agribusiness startup, has raised $1.6 million in funding

Apollo, a Kenyan agritech startup, has received a $1 million debt financing to help small-scale farmers

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

telecommunications
Mobile networks

Cameroon Fines MTN and Orange $4.6 Million for Poor Service Delivery

by Tech Gist Africa
07/11/2025
0

Cameroon’s telecom regulator has issued fines totaling approximately 2.6 billion CFA francs (around US $4.6 million) to MTN Cameroon and Orange...

Read more
Cerebrium South Africa

Cerebrium, a South African AI startup raises $8.5 million seed funding

07/11/2025
BuuPass QuickBus Kenya

BuuPass, a Kenyan mobility startup has secured strategic funding from Yango Ventures

07/10/2025
Complete Farmer Ghana

Complete Farmer, a Ghana-based agritech company Raises $2.5 Million

07/09/2025
Wave Senegal

Wave, a Senegal‑based fintech startup has secured a $137 million debt financing facility

07/09/2025
Next Post
fwrun DIGGIPACKS

DIGGIPACKS, a Saudi logistics company, has acquired Egyptian e-commerce startup FWRUN

Tumi Mphahlele I-G3N

I-G3N, a lithium-ion battery manufacturer based in South Africa, has received $1.3 million in funding from Edge Growth

Autochek

Autochek, a Nigerian automotive technology company, has acquired Cheki Kenya and Uganda

No Result
View All Result

The Big 5

Africa Tech

Tech Diplomacy: How Africa is Leveraging Technology for International Relations and Development

by Tech Gist Africa
07/21/2025
0

...

Media and Entertainment

How African Technology is Changing the Face of Media, Entertainment, and Digital Content

by Tech Gist Africa
07/14/2025
0

...

Ecobank

Ecobank, Google Partner to Boost Financial Inclusion and Innovation Across Africa

by Tech Gist Africa
07/08/2025
0

...

AWIEF

AWIEF 2025 Awards Nominations Now Open to Celebrate Africa’s Top Women Entrepreneurs

by Tech Gist Africa
07/08/2025
0

...

Google for Startups Accelerator Africa

15 African AI startups Selected for Google for Startups Accelerator Africa

by Tech Gist Africa
07/08/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.