Shamba Pride

Shamba Pride a Kenyan agritech startup raises $3.7 Million for expansion

Shamba Pride has raised $3.7 million from EDFI AgriFI, the EU Agriculture Financing Initiative and Seedstars Africa Ventures. Shamba Pride is an Agri SME based in Kenya.

EDFI Agrifi will provide a long term loan of $2 million, to foster sustainable development and economic growth in developing countries.  Seedstars Africa Ventures, investor since 2021, has committed an additional $1.7 million in equity, reaffirming its support to the company and catalysing investments into the company from international funds.

Shamba Pride addresses the crucial challenge of providing quality and affordable agricultural inputs, services, and information to smallholders in rural areas. Known for its innovative approach, the company has built a platform empowering last-mile agro-dealer shops, or agrovets, with digital services, namely enabling easy online ordering and purchase with weekly doorstep delivery of supplies, reducing out of stock situations.

This model not only allows the creation of new jobs, but it also provides access to agricultural inputs for smallholder farmers in remote rural areas at more affordable prices.

Shamba Pride CEO Samuel Munguti said: “EDFI AgriFI joined this growth journey through an investment that propels Shamba Pride towards its vision of positively impacting the lives of some 200,000 farmers by the end of 2025. The company has already grown its outreach by 10x since 2021 to reach over 220 shops, and the additional equity investment from Seedstars Africa Ventures alongside a trusted institutional financial institution is a significant milestone for the company to become a regional champion and a trusted brand for the industry.”