Overview:
Each of the 10 startups will be offered $100, 000 of equity investments as well as $100, 000 of hands-on venture-building support.
Agro Supply Uganda Limited, an agriculture startup, is among 10 others on the African continent to benefit from a $2m seed capital courtesy of Catalyst Fund.
The investment is geared towards promoting Africa’s adaptation and resilience to climate change.
The 10 companies joining this next cohort of Catalyst Fund are: Agro Supply [Uganda]; Assuraf [Senegal]; Bekia [Egypt]; Eight Medical [Nigeria]; Farm to Feed [Kenya]; Farmz2U [Nigeria, Kenya]; Octavia Carbon [Kenya]; PaddyCover [Nigeria]; Sand to Green [Morocco] and VAIS [Egypt].
Each of the 10 startups will be offered $100, 000 of equity investments as well as $100, 000 of hands-on venture-building support.
Managing Partner of Catalyst Fund, Maelis Carraro, said: “Our goal is to back mission-driven founders that share our vision of a world where every individual has the tools and opportunities they need to thrive.”
He said: “From agtech to insurtech, waste management, disaster response, and carbon finance, these startups display finance, tech, and business model innovations that will help communities better adapt to climate impacts and grow their resilience.”
Agro Supply Limited last month emerged the top winner of Airtel Uganda’s much publicised ‘Uganda Needs More of You’ campaign. campaign, with 39.5% votes from the voting public.
Agro Supply has developed a system that makes use of a USSD code (Dial *284*43#) and scratch cards plus mobile money to enable farmers save for agricultural inputs. Farmers can also save for other inputs like organic fertilizers, and solar irrigation system.
Through its field agents, Agro supply conducts on sight training for our registered farmers prior to the planting season. It has also designed a digital extension training system sending messages about Agronomy directly to farmer’s phone. It is also developing an AI training system that will use Interactive voice response(IVR).
On 24th August 2018, during Seedstars Kampala, Agro Supply Uganda Limited won the Uganda round of Seedstars World and represented the country at the Seedstars Summit in Switzerland to compete for up to USD 1 million in equity investment.