Tanzania-based East Africa Fruits has secured $2.05 million Series A funding round led by Goodwell Investments. Other participants in the funding round include US-based Finca Ventures and Elea, headquartered in Swiss.
Elia Timotheo founded East Africa Fruits in 2013, a web-based system to help farmers to directly sell fresh produce to informal markets. It is a fair market for fresh produce that takes care of distribution challenges and reduce post-harvest losses.
The CEO, Elia Timotheo said, “We’re eager to scale our operations, expand the reach of our smallholder farmer network and our distribution footprint, and ultimately to demonstrate real impact in the lives of local farmers and informal food vendors.”
See also: Helium Health Secures $10 million Series A Expansion Round
East Africa Fruits will use the fund to build a supply-chain infrastructure. It already uses a web-based system to record and process client orders. It plans to serve 10000 farmers and 6000 SMEs through the supply-chain infrastructure.
It also plans to procure more machinery for distribution and build infrastructure to accommodate a higher demand rate. In essence, East Africa Fruits is eager to scale its operations, expand the reach of its smallholder farmer network and distribution footprint. This will ultimately demonstrate a real impact on the lives of local farmers and informal food vendors.
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