Afrikamart is a technology company.
Afrikamart has raised $150K across 1 funding round.
Afrikamart has raised $150K in total across 1 funding round.
Afrikamart is a Senegalese agritech company that operates a B2B digital platform connecting smallholder farmers to retailers, hotels, and other buyers with fresh fruits and vegetables. It solves critical issues in Africa's agricultural supply chain, including limited market access for farmers, unreliable suppliers for retailers, price speculation by brokers, food waste, and late payments, by leveraging AI for quality checks, real-time pricing, and efficient logistics.[1][2][3][4] The platform uses an agent-based model with digitally-controlled collection and distribution centers to aggregate produce from farm gate to urban markets, reducing time-to-market to under 18 hours and enabling seamless restocking.[2][3] Since 2019, Afrikamart has onboarded over 10,000 farmers across Senegal, Mali, and Morocco, projecting purchases of over 8,000 tons of produce in 2024, while serving the agricultural and food service industries.[2][5]
Afrikamart was founded in 2018 (with incorporation in 2019) by Senegalese siblings Mignane Diouf (CEO) and Albert Diouf, a young entrepreneurial couple motivated to tackle agricultural losses throughout the production chain from small producers to urban retailers.[3][4] The idea emerged from recognizing persistent challenges in African agribusiness: farmers' insufficient market access and information, retailers' dependence on speculative brokers leading to high consumer prices, and vulnerabilities for low-income farmers and retailers in a multibillion-dollar sector.[3] Early traction came through building a network of 2,000 farmers and 2,500 retailers, trading over 10,000 kilos daily, supported by seed funding from Katapult Africa and later partnerships like I&P Acceleration Technologies (via Teranga Capital) in 2022 to scale to over 5,000 operators in Senegal.[3][4]
Afrikamart rides the agritech wave in Africa, where digital platforms address a $1 trillion agribusiness opportunity by improving supply chain efficiency amid rapid urbanization, population growth, and climate pressures on smallholder farming (which dominates 80% of African agriculture).[3] Timing is ideal post-2019 founding, aligning with investor focus on food security via tech (e.g., AI for traceability) and initiatives like AFD's Digital Africa funding.[4] Market forces favoring it include rising demand for fresh produce in urban West Africa, reduced food waste (critical as 30-40% of produce is lost), and transparency needs amid broker inefficiencies.[1][3] It influences the ecosystem by onboarding thousands of farmers, creating jobs, and modeling hybrid tech-agent solutions that competitors like TradeBuza or Complete Farmer echo, fostering sustainable trade and inclusive growth.[1][2]
Afrikamart is poised for West African expansion, building on 10,000+ farmers and 8,000-ton projections to digitize full farm-to-retail processes, potentially scaling distribution capacity exponentially.[2][3][5] Trends like AI advancements in quality control, climate-resilient farming, and B2B e-commerce growth will propel it, alongside deeper investor ties (e.g., Katapult, I&P). Its influence may evolve from Senegal-focused disruptor to regional leader in transparent agribusiness, empowering vulnerable farmers and stabilizing food prices—ultimately bridging Africa's farm-to-fork gap with tech-driven equity.[4]
Afrikamart has raised $150K in total across 1 funding round.
Afrikamart's investors include Katapult VC.
Afrikamart has raised $150K across 1 funding round. Most recently, it raised $150K Seed in November 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2022 | $150K Seed | Katapult VC |