This archive report was first published on 25 July 2019.
July 25, 2019 - Gray Matters Capital, a US-based impact investor, has announced funding for Taimba, a Nairobi-based B2B Agri-Tech start-up that connects rural small-scale farmers to urban retailers.
Taimba sources agricultural products directly from farmers and delivers them to informal green grocers, schools, hospitals, and restaurants within Nairobi, removing middlemen and shrinking the agricultural value chain.
The start-up currently has over 2,000 farmers in its portfolio and engages with 15 farmer SACCOs, selling produce such as potatoes, tomatoes, cabbages, and carrots. It also partners with financial institutions to provide loans for farmers to purchase certified seeds and fertilizers.
Technoserve, an international non-profit organization, has partnered with Taimba as its farmer outreach partner. The start-up offers retailers the convenience of doorstep delivery of produce, saving them time and logistics costs.
Taimba has also rolled out a microloan facility for its retail customers to help them expand their businesses and overcome liquidity challenges.
Speaking about the fund raise, Dominique Kavuisya, Co-Founder and CEO of Taimba, said, “We are delighted to become a part of Gray Matters Capital’s portfolio through the coLABS funding.”
“This is a validation of the work which we have been doing and the impact on-ground delivering value to vendors and farmers through our mobile platform. The funding is a shot in the arm for us to strengthen our warehouse infrastructure by setting up cold storage facilities and also our delivery logistics so that we can cater to 6 new markets within Nairobi,” added Kavuisya.
