Kenyan aquaculture tech Victory Farms bags $5 million in funding

Kenyan aquaculture tech Victory Farms bags $5 million in funding
Photo by Nguyen Linh / Unsplash

Victory Farms, a Kenya-based tech-driven aquaculture startup has bagged $5 million in its first institutional investment led by Ed Brakeman, director at Bain Capital.

  • The funds will be used to expand its services to new markets in Rwanda, DRC and Tanzania, the farm claims.
  • Victory Farms is an aquaculture startup providing tilapia fishes including hatcheries, nursery ponds and deep-water cages in Kenya.
  • The farm runs a tech-led fish producing business and claims it has scaled 2x faster than any other African fish farm.
  • It uses a vertical integration (when a company takes control of the various stages of production rather than outsourcing them) to supply fish to 54 retail locations and over 15,000 market women in Kenya.