Gray Matters Capital’s coLABS invest $250k in Kenya’s Farmshine

Farmshine is a global agriculture platform where farmers, buyers and service providers can trade on mutually beneficial terms.

From left to right: Former Kenyan cabinet secretary for agriculture, livestock and fisheries Felix Koskei and Farmshine founder and CEO Luca Alinovi. Photography: GASTON via Twitter

Nairobi, based Farmshine secured a $250 000 investment from US impact investor Gray Matters Capital‘s gender lens sector agnostic portfolio GMC coLABS.

The Farmshine’s, business model is focused solely on one client: smallholder farmers. The Agrotech startup has over 8,000,000 smallholder farmers in Kenya, 40,000,000 in East Africa and nearly one billion around the world. Many of these farmers are unable to access fair prices on the global market.

Farmshine’s platform also connects farmers with the information, suppliers and service providers they need to minimize costs and maximize harvests.

The new investment will be used to hire and train personnel, including field agents, as well as to further develop the platform to connect the agricultural ecosystem, Gray Matters Capital said in a statement earlier today.

 

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