Zambian Agritech Startup, Good Nature Agro, Raises $2.1 Million Series A Funding

Good Nature Agro, a Zambian Agritech startup, has raised the sum of $2.1 million in a Series A funding round that was led by Goodwell Investments,  Global Partnerships, and FINCA Ventures.

Announcing the development in a recent press statement that was seen by Business Elites Africa, Goodwell Investments congratulated Good Nature Agro whilst expressing optimism that the capital injection would enable the company to scale.

We're excited to welcome @goodnatureagro to our portfolio, as we led their Series A round of $2.1 million. Excited to have another #agri investment join the uMunthu fund family!https://t.co/YRxBYDBuS4#impinv #VC #PE #funding #startup #socent #agriculture #agribusiness #Africa pic.twitter.com/ILi5Vi8W8w

— Goodwell Investments (@GoodwellInvest) October 1, 2020

The Zambian agritech firm specialises in legume production by partnering with smallholder farmers to ensure overall improvement in productivity. They do this by availing the farmers access to soil-enriching crops and linking them to market opportunities. At the centre of this operation is the use of technology to drive growth.

Established in 2014, Good Nature Agro is currently working with about 5,000 smallholder farmers across Zambia. The capital raise is expected to help the agritech firm to accelerate its operations by particularly building essential value-added processing infrastructure in Central and Eastern Zambia. The company’s Co-founder and Chief Executive Officer, Carl Jensen, was quoted to have said:

“We believe that every farm – regardless of size – deserves a partner who sees enough value in their capacity and their dreams to engage with them as individuals and families. Our focus on personal advice and service delivery to farmers even as we scale is the key to our social impact and our momentum.

“Sunday, Kellan, and I are incredibly proud of what the GNA team has accomplished since 2014, but the best is yet to come. With this investment, we are entering a new phase of rapid growth driven by global value chains and superior service to our suppliers and customers.”

While commenting on the funding round, Mercy Zulu who is an Investment Associate at Goodwell Investments, noted that agriculture in Zambia has a lot of untapped potentials. She also expressed optimism that Good Nature Agro developing the capacity needed to take full advantage of the agric sector.

“Through its business model and exceptional team, Good Nature Agro is addressing many of these issues by providing access to credit, inputs, critical technical services, and market linkages in a way that benefits smallholder farmers and promotes sector growth. This makes the company a good fit for uMunthu’s inclusive agribusiness strategy. We are excited that our investment will support the next phase of the company’s growth, and we look forward to working with the team on this journey.”