CRESTHUB
CRESTHUB MAGAZINE
  • NEWS
    EL-RUFIA to Invest $100 Million in Northern Nigeria Venture Fund

    EL-RUFIA to Invest $100 Million in Northern Nigeria Venture Fund

    Chief Kefas Ropshik Unveils the Kefiano Creative Hub

    Chief Kefas Ropshik Unveils the Kefiano Creative Hub

    LemFi Suspends Operations in Ghana

    LemFi Suspends Operations in Ghana

    Fez Delivery Expands Operations to the UK

    Fez Delivery Expands Operations to the UK

    Jos DevFest 2023 Unveils Exciting Developments in the Google Developer Group Ecosystem

    Jos DevFest 2023 Unveils Exciting Developments in the Google Developer Group Ecosystem

    Nigeria Empowers Youths: Launches 3MTT to Tackle unemployment

    Nigeria Empowers Youths: Launches 3MTT to Tackle unemployment

  • FEATURED
    Based on The Metric of Naira Against The Dollar, Bosun is Right-Retnan Daser

    Based on The Metric of Naira Against the Dollar, Bosun is Right-Retnan Daser

    How Code Plateau’s Demise Will Impact Tech Talent Development in Plateau State

    How Code Plateau’s Demise Will Impact Tech Talent Development in Plateau State

    Resurgence of Innovation: The Revamp of Tech Startups in Jos, Plateau State.

    Resurgence of Innovation: The Revamp of Tech Startups in Jos, Plateau State.

    Nigeria’s Cash Swap Policy: Goals versus Results

    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    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

  • FINANCE
    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    Fez Delivery Expands Operations to the UK

    Fez Delivery Expands Operations to the UK

    Bolt launches Accelerator Den Program with €25,000 Investment in 20 Drivers

    Bolt launches Accelerator Den Program with €25,000 Investment in 20 Drivers

    Paystack to cut off on Operations Outside Africa and Layoff Some Staff

    Paystack to cut off on Operations Outside Africa and Layoff Some Staff

    AltSchool Secures $3 Million Crowdfund and Gains Financial Aid from Rwanda

    AltSchool Secures $3 Million Crowdfund and Gains Financial Aid from Rwanda

    Startup Futurescool To Partner With Institutions in Nigeria As It Sets To Lunch Revolutionary Online Education Program

    Startup Futurescool To Partner With Institutions in Nigeria As It Sets To Lunch Revolutionary Online Education Program

    JOBJACK Secures $2.5 Million Series A to Support Expansion in SA

    JOBJACK Secures $2.5 Million Series A to Support Expansion in SA

  • PODCAST
CRESTHUB
  • NEWS
    EL-RUFIA to Invest $100 Million in Northern Nigeria Venture Fund

    EL-RUFIA to Invest $100 Million in Northern Nigeria Venture Fund

    Chief Kefas Ropshik Unveils the Kefiano Creative Hub

    Chief Kefas Ropshik Unveils the Kefiano Creative Hub

    LemFi Suspends Operations in Ghana

    LemFi Suspends Operations in Ghana

    Fez Delivery Expands Operations to the UK

    Fez Delivery Expands Operations to the UK

    Jos DevFest 2023 Unveils Exciting Developments in the Google Developer Group Ecosystem

    Jos DevFest 2023 Unveils Exciting Developments in the Google Developer Group Ecosystem

    Nigeria Empowers Youths: Launches 3MTT to Tackle unemployment

    Nigeria Empowers Youths: Launches 3MTT to Tackle unemployment

  • FEATURED
    Based on The Metric of Naira Against The Dollar, Bosun is Right-Retnan Daser

    Based on The Metric of Naira Against the Dollar, Bosun is Right-Retnan Daser

    How Code Plateau’s Demise Will Impact Tech Talent Development in Plateau State

    How Code Plateau’s Demise Will Impact Tech Talent Development in Plateau State

    Resurgence of Innovation: The Revamp of Tech Startups in Jos, Plateau State.

    Resurgence of Innovation: The Revamp of Tech Startups in Jos, Plateau State.

    Nigeria’s Cash Swap Policy: Goals versus Results

    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    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

  • FINANCE
    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    Fez Delivery Expands Operations to the UK

    Fez Delivery Expands Operations to the UK

    Bolt launches Accelerator Den Program with €25,000 Investment in 20 Drivers

    Bolt launches Accelerator Den Program with €25,000 Investment in 20 Drivers

    Paystack to cut off on Operations Outside Africa and Layoff Some Staff

    Paystack to cut off on Operations Outside Africa and Layoff Some Staff

    AltSchool Secures $3 Million Crowdfund and Gains Financial Aid from Rwanda

    AltSchool Secures $3 Million Crowdfund and Gains Financial Aid from Rwanda

    Startup Futurescool To Partner With Institutions in Nigeria As It Sets To Lunch Revolutionary Online Education Program

    Startup Futurescool To Partner With Institutions in Nigeria As It Sets To Lunch Revolutionary Online Education Program

    JOBJACK Secures $2.5 Million Series A to Support Expansion in SA

    JOBJACK Secures $2.5 Million Series A to Support Expansion in SA

  • PODCAST
No Result
View All Result
CRESTHUB
No Result
View All Result

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

  • Axia Hub hosts its Axia Tech Challenge for Secondary Schools in Jos
  • Nigerian President Muhammadu Buhari signs the Nigerian Startup Bill Into Law
  • Jos Tech Girls Set to Host Tech Storytelling Event
  • Moove Raised $135 Million in H1 2022 to Scale its Vehicle Financing Business Globally
  • Airtel gets 5G and 4G Spectrum for $317 million

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