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Zebra CropBank, an agritech start-up based in Nigeria, has obtained significant funding to further its objective of improving the lives of small-scale farmers throughout Africa.
The Catalyst Fund, a collection of investors dedicated to sustainable farming and rural prosperity, spearheaded the investment which will expedite Zebra CropBank’s growth and empower farmers.
The funding is aimed at expanding Zebra CropBank’s activities, predominantly via the deployment of solar-powered micro-warehouses and the reinforcement of its integrated trading platforms. This strategy will address problems often faced by small-scale farmers, such as inadequate storage facilities, weak market ties, and vulnerability to climate change.
Zebra CropBank’s trailblazing model involves the construction and leasing of solar-powered micro-warehouses near farming communities. These facilities allow farmers to securely store and insure their harvests, while a USSD platform facilitates transparent storage and trading.
The initiative has already yielded considerable benefits, with farmers seeing up to 90% increases in their income and noteworthy reductions in storage losses.
Investors have recognized Zebra CropBank’s substantial potential for a positive impact, saluting its evidence-based approach to tackling the intricate challenges encountered by small-scale farmers. Its unique concentration on post-harvest solutions – such as storage and market accessibility – differentiates it within the agritech sector.
Currently operating in Nigeria’s Enugu State with five established micro-warehouses and 1,400 registered farmers, Zebra CropBank proposes climate-smart solutions that address the requirements of small-scale farmers.