Plesion Capital’s recent announcement of a $250,000 investment in Nigerian agritech company Releaf indicates the growing trend of social impact investing. Releaf’s technology is designed to revolutionize Africa’s agricultural sector by providing hardware and software solutions that make the system more rewarding for everyone involved. The company’s mission is to build climate-adaptive supply chains that support Africa’s rapidly growing population, which is expected to reach 2.5 billion by 2050.
Nigeria Releaf’s recent pre-Series A round was oversubscribed, showing investors’ level of interest and confidence in the company’s potential. Plesion’s investment adds to this momentum and underscores the potential impact of Releaf’s technology on the African agricultural industry. The company’s supply chain technology helps FMCGs in Africa get high-quality inputs at a lower cost, translating into lower consumer prices.
“Industrializing food processing throughout Africa is a major opportunity that will create significant economic and societal benefits for all parties involved, especially farmers who often struggle to make a fair living off their land,” said Ben Finlay, Plesion Capital’s Founder, and Managing Partner. “Kenna and Uzo have created exceptional technology solutions that are helping to address this pressing need by acting as a bridge between farmers and factories. We look forward to supporting Releaf’s efforts to grow its operations and eventually expand into other crops.”
One of Releaf’s primary focuses is the oil palm industry in Nigeria, which has more than 4 million smallholder farmers. These farmers often suffer from inefficient processing systems that make it difficult to produce high-quality oil. Releaf’s proprietary de-shelling hardware, Kraken, helps farmers create oil more efficiently and quickly than traditional methods. By improving the efficiency of the oil palm industry, Releaf’s technology has the potential to increase farmers’ incomes and improve the industry’s overall sustainability.
Plesion Capital’s investment in Releaf is part of the firm’s larger strategy of focusing on African-based investment opportunities that address significant societal challenges. These challenges include food insecurity, clean water access, and improving infrastructure. By investing in Releaf, Plesion is not only supporting a promising company with the potential to impact the African agricultural industry significantly, but it is also contributing to a more significant effort to address some of the continent’s most pressing social and economic challenges.
Photo by Nazarizal Mohammad on Unsplash
