Ghanaian agricultural firm, Oyster Agribusiness, which is at the intersection of technology and agriculture, has successfully raised a total of $310,000 in grant and debt funding. This financial infusion is set to propel the company’s mission of promoting sustainable agriculture, gender inclusion, and talent development.
Supporting Partners and Funding Sources
Oyster Agribusiness secured its debt capital from Root Capital, a nonprofit lender that is dedicated to fostering prosperity and resilience in rural communities. In addition to this debt funding, the startup has secured two grants, totaling an additional $10,000.
Empowering Smallholder Farmers through Technology
Established in 2018, Oyster Agribusiness is committed to uplifting smallholder farmers by offering them sustainable agricultural inputs, improved agronomic practices, and access to a reliable market for their produce. The company leverages technology to optimize its operations, employing technological solutions for input distribution, yield enhancement, planting through seeders, and crop spraying via drones.
Edmond Kombat, the founder and CEO of Oyster Agribusiness, expressed gratitude to Root Capital, other partners, and grant providers for recognizing the value of the company’s endeavors and the potential it holds for smallholder farmers. Kombat highlighted that this funding injection will facilitate an expansion of Oyster’s reach, reinforce gender inclusion initiatives, and further invest in their exceptional team. This infusion of resources is a significant stride towards realizing Oyster Agribusiness’s vision of fostering a thriving and sustainable agricultural sector.
Source: Disrupt Africa