Zowasel a sustainable marketplace for crops has bagged $100,000 investment funding from Guinness Nigeria Plc and Promasidor Nigeria Limited, a foremost leading pan-African consumer packaged food manufacturer at the UN World Food Program Zero Hunger Sprint.
The “Zero Hunger Sprint” was developed by the United Nations World Food Program to enable agricultural innovators to end hunger by turning their ideas into actionable solutions.
The aim of the organizers is to empower agtech startups with more resources to drive their innovative ideas.
In its inaugural event, Zowasel received $100,000 at the Zero Hunger Sprint from an available $250,000 funding from five corporate organizations that also included TGI Agriculture, Heineken/Nigeria Breweries Plc and the Tolaram Group asides from the two organizations mentioned earlier in the second paragraph.
With this recent investment funding, Zowasel will receive support from the WFP Innovation Accelerator in Germany and also from the Kenyan-based Innovation Hub so as to further explore more partnerships while developing its business model.
While expressing his excitement on the investment funding, Jerry Oche, Co-founder and CEO of Zowasel said:
“We are glad two giants in Guinness Nigeria Plc and Promasidor find us worthy of investment, we are even more excited about the opportunity, trust, and confidence bestowed upon our company.”
Stating further, Jerry stated that the agtech startup looks forward to exploring more partnerships with the corporate organizations to learn about their supply chains.
Also read, Zowasel partners Solidaridad to drive Oil Palm Value Chain in Nigeria
Also speaking on the investment funding, Bruno Gruwez, Managing Director/CEO, Promasidor Nigeria Limited said:
“We are delighted to invest in Zowasel and support the company’s development efforts, to build a game-changing business model to benefit the smallholder farmers, the founders and ultimately the country. When you are successful, then Promasidor will also benefit from it”
The platform has created a robust marketplace for crops by matching verified buyers directly to sellers.
This process also fixes the cash-flow challenge by paying for the crops 24hrs after delivery in contrast to the typical 30-90 day waiting period.
Zowasel enables crop merchants to expand their agribusiness beyond their locality, allowing them to sell to the best bidders anywhere in the world.
The online marketplace allows buyers and sellers to register for free, enabling them to negotiate an agreement before shipment.
The vision of Zowasel is to create a sustainable source across all communities while its vision is to create market access that leads to increased revenue.
Zowasel deploys technology blockchain and artificial intelligence to reimagine agribusiness in Africa’s emerging markets.
Featured Image: (L-R) Mr. Idowu Osoneye, Supply Chain, Promasidor Nigeria; Jerry Oche, Co-founder/CEO of Zowasel Inc. and Mr. Bruno Gruwez, MD/CEO, Promasidor Nigeria Limited.
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