Farmerline, a Ghanaian agri-tech startup led by Alloysius Attah, secures $12.9 million pre-Series A funding

Farmerline Group has secured a US$6.4 million Pre-Series A investment and US$6.5 million debt to strengthen its supply chain for agribusinesses; reduce the cost of farming, and increase yield for farmers on the continent through the deployment of AI technology and local infrastructure.

The US$6.4 million Pre-Series A investment, led by Acumen Resilient Agriculture Fund(ARAF) and FMO, the Dutch entrepreneurial development bank, is Farmerline’s first equity raise since launching with a US$600 grant almost a decade ago. The other investor of the US$6.4 million equity round is Greater Impact Foundation.

Lenders of the US$6.5 million debt include DEG, Rabobank, Ceniarth, Rippleworks, Mulago Foundation, Whole Planet Foundation, Netri Foundation and Kiva.

In recent times, Africa’s agribusiness sector has been coined the ‘new oil’ and is predicted to reach US$1 trillion by 2030. But the continent will need 8 times more fertilizer and 6 times more improved seeds to realize its full agricultural potential.

Farmerline’s marketplace combines digital tools, logistics, field agents, farm resources and agribusiness partnerships to support African farmers with access to high-quality fertilizer and seeds; free education on climate-smart farming practices; and connections to international markets.