Kenyan Agritech Business, Stable Foods Raises $600k in Funding
A Kenyan business called Stable Foods has raised US$600,000 to create a method for producing smallholder food that is climate-smart.
Participating in the fundraising round were Mercy Corps Ventures and the Acumen Resilient Agriculture Fund (ARAF).
Agrifood-tech venture studio Pyramidia Ventures’ portfolio company Stable Foods has developed an all-in-one system that combines regenerative agriculture training, inputs, offtake contracts, and irrigation-as-a-service (IaaS).
We are pleased with this round of funding for our very first venture to come out of the studio, according to Ruth Bertens, founder and managing partner of Pyramidia Ventures. The goals of Mercy Corps Ventures and ARAF are completely compatible, and we are grateful to the entire Stable Foods team for finding such great partners.
“Stable Foods is another wonderful addition to ARAF’s portfolio companies where we invest in new business models that help smallholder farmers adapt to climate change,” says Tamer El Raghy, general director of ARAF. We believe Stable Foods’ Irrigation-as-a-Service solution is a game-changer for the industry because it is impossible to overstate how negatively climate change is affecting rain patterns.
By 2023, Stable Foods hopes to expand its proof of concept to 500 farms with the new funding.
