Nigerian agrifood tech start-ups, others raise $1.1b

Agrifood tech startups in  Africa have raised $1.1billion in five years, a report has said.

The Africa Agrifood tech Investment Report 2022, AgFunder’s first Africa investment report, in partnership with FMO-Dutch entrepreneurial development and British International Investment, aims to contextualise trends on the continent with global trends.

The report also indicated that African agrifood tech firms have $1.1 billion since 2017.

A record-breaking $482 million investment position, according to the report, was achieved last year alone, a 250 per cent jump, year-over-year. However, the report posited that  it still represented less than one per cent of global agrifood tech investment.

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