Nile, an agri-tech fresh produce trading startup based in South Africa has raised $5.1 million in its equity funding round.
- Launched in 2020, Nile is a business-to-business (B2B) startup providing digital solutions to address complex points in food trading including price transparency, quality verification, speed of payments, traceability of produce and food waste.
- The platform facilitates the end-to-end connection of farmers to commercial retailers for fresh produce in South Africa including transaction and payment security for efficient cash flow.
- It has processed the trading of 30 million kg of fruits and vegetables on its platform with buyers from 5 countries, and 35 towns and cities in South Africa.
- The funding round was led by Naspers Foundry with a $2.5 million equity contribution and participation from Platform Investment Partners, Raba Capital and Base Capital.