CRESTHUB
CRESTHUB MAGAZINE
  • NEWS
    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    The Federal Government Will No Longer Tolerate the Importation of SIM Cards — Pantami

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    ECWA Partners with Bitnob to Raise Charity

    ECWA Partners with Bitnob to Raise Charity

    Sudo Africa appoints Farida Kabir as Group Head of Growth

    Sudo Africa appoints Farida Kabir as Group Head of Growth

  • FEATURED
    How MTN Nigeria is Aiding National Evolution

    How MTN Nigeria is Aiding National Evolution

    Understanding nHub’s Build Back Better Strategy

    Understanding nHub’s Build Back Better Strategy

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Harnessing the Potentials of Social Media to Grow SMEs in Nigeria

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    Against all odds, African female-led tech startups are raising funds

  • BLOCKCHAIN
    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    How Blockchain can Transform the Financial Ecosystem in Nigeria

  • FINANCE
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Abeg Rebrands to Pocket, set to Pioneer Social Commerce in Nigeria

  • START UPS
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    The Nigeria Startup Bill Passes Third Reading at the Senate

    Moove Raised $135 Million in H1 2022 to Scale its Vehicle Financing Business Globally

    GetEquity wants to Replicate its Nigerian Success in Kenya.

    GetEquity wants to Replicate its Nigerian Success in Kenya

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    How 10 African Startups Raised $218.4 Million in May 2022

    How 10 African Startups Raised $218.4 Million in May 2022

  • PODCAST
CRESTHUB
  • NEWS
    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    The Federal Government Will No Longer Tolerate the Importation of SIM Cards — Pantami

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    ECWA Partners with Bitnob to Raise Charity

    ECWA Partners with Bitnob to Raise Charity

    Sudo Africa appoints Farida Kabir as Group Head of Growth

    Sudo Africa appoints Farida Kabir as Group Head of Growth

  • FEATURED
    How MTN Nigeria is Aiding National Evolution

    How MTN Nigeria is Aiding National Evolution

    Understanding nHub’s Build Back Better Strategy

    Understanding nHub’s Build Back Better Strategy

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Harnessing the Potentials of Social Media to Grow SMEs in Nigeria

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    Against all odds, African female-led tech startups are raising funds

  • BLOCKCHAIN
    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    How Blockchain can Transform the Financial Ecosystem in Nigeria

  • FINANCE
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Abeg Rebrands to Pocket, set to Pioneer Social Commerce in Nigeria

  • START UPS
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    The Nigeria Startup Bill Passes Third Reading at the Senate

    Moove Raised $135 Million in H1 2022 to Scale its Vehicle Financing Business Globally

    GetEquity wants to Replicate its Nigerian Success in Kenya.

    GetEquity wants to Replicate its Nigerian Success in Kenya

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    How 10 African Startups Raised $218.4 Million in May 2022

    How 10 African Startups Raised $218.4 Million in May 2022

  • PODCAST
No Result
View All Result
CRESTHUB
No Result
View All Result
Home News

Agritech Startup, FreshSource secures Undisclosed Seven-Figure Amount in Seed Round

by Ajifa Solomon
February 28, 2022
in News
Reading Time: 4 mins read
0
Agritech Startup, FreshSource secures Undisclosed Seven-Figure Amount in Seed Round
Share on FacebookShare on Twitter

Cairo-based agritech startup, FreshSource Global has secured a seven figure investment. The round was led by Wamba and 4DX,  a  leading venture capital firm in the Middle East and North Africa region (MENA). 

FreshSource is a company that aims at bridging the gap between producers and vendors by leveraging on data and technology to enhance speedy delivery. The startup aims at refining the sourcing of fruits and vegetables by taking a value chain approach to create a superior sourcing experience.

The company offers medium and large scale farmers opportunities to enter into contract with hotels, restaurants and marketplace. Upon harvesting goods, FreshSource delivers the agreed-upon products to the contractors.

On the raise, Peter Orth, Co-Founder and Managing Partner at 4DX Ventures said:

“We’re really excited to partner with Farah and Omar. They’ve shown excellent  knowledge of the market and ability to execute so far, and we think that they have the potential  to build a really important business in the coming years. 

Great pricing, reliability, and quality  is essential for the agriculture / food industry, and Freshsource is helping to deliver a service  quality well ahead of anything else in the market,” he said.

Founded in 2018 by Farah and Omar Emara with a mission to disrupt the Agriculture sector, the siblings came up with the idea while both were in London, juggling around entrepreneurship. 

With Farah’s knowledge of entrepreneurship and Omar’s computer skills, FreshSource uses data and technology to handle the distribution process from storage and logistics to final delivery.

Farah Emara, co-founder and CEO of FreshSource said, “We saw a substantial market opportunity and believed that with our Management,  Finance and Tech background coupled with our family business know-how, we would build a  high-growth and impactful business that will introduce new ways of sourcing in the country.”

The company is scaling at a rapid pace and is now serving major customers across 11 Egyptian cities. FreshSource plans to use this funding for regional expansion into all of Egypt’s governorates. 

“We are proud to have the confidence of some of the strongest investors in the region  who share our vision of leveraging data and technology to streamline the inefficient agri supply chain. 

This new investment will allow us to continue to bring top talent on board and  build the team we need to achieve our mission and accelerate our growth.” – Omar Emara, COO & Co-Founder. 

According to FreshSource, Agriculture contributes about 11.3% of the  country’s gross domestic product and accounts for 28% of all jobs. 

Lamentably, 45% of products and profit in Egypt’s market is lost along the supply chain due to poor storage and management. This further leads to inflated prices of goods as only a fragment of produce is left to feed the teeming population of over 101 million.

FreshSource is taking laudable measures in the agriculture sector to ensure maximum production and distribution. 

Related

Previous Post

Voyance Launches Manhattan DB and Sigma as it gets $500,000 Pre-Seed Funding

Next Post

Cario-based Logistics Startup Milezmore gains $5million in pre-Seed Round

Next Post
Cario-based Logistics Startup Milezmore gains $5million in pre-Seed Round

Cario-based Logistics Startup Milezmore gains $5million in pre-Seed Round

MTN Acquires Ubuntuland in Metaverse for an Undisclosed Sum

MTN Acquires Ubuntuland in Metaverse for an Undisclosed Sum

No Result
View All Result

CRESTHUB MAGAZINE

Popular Posts

  • Flutterwave Defies Global Layoffs, Hire 200 more Staff
  • How Yuorit Yoghurt Achieved Business Success Through Social Media
  • The Hub: How Vendors can Drive Sales using Social Media
  • Inside Stakefair’s No-Loss Betting Platform
  • How Microsoft is building Strong Foundations for a Digital Economy in Nigeria

Cresthub

Learn, Start and Grow your Business with Innovative Business Solutions at Cresthub.

Company

  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

Products

  • Cresthub Magazine
  • Cresthub Podcast
  • Cresthub Insight

Socials

Facebook Twitter Youtube
  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

© 2022 Cresthub Media

No Result
View All Result
  • NEWS
  • FEATURED
  • BLOCKCHAIN
  • FINANCE
  • START UPS
  • PODCAST

© 2022 Cresthub Media

Cresthub newsletter
THE WEEKLY ROUND UP

Join our newsletter to get first hand insight in tech and start up happenings in Nigeria and Africa at large.

Enter your email address