A tech company that gives easy access to high quality ingredients to consumer goods manufacturers’ factory in Africa, known as Releaf, has garnered $3.3 million in a large sign up Pre-Series A funding series. It’s aim is to back the unveiling of two new technologies called Kraken 2 which is a handheld version of its prominent palm nut de-sheller. The second is SITE, a geographic application that guides the most productive positioning of food procedural goods.
The funding series was led by Samurai Incubate Africa together with some other investors who are: Consonance Investment Managers, Stephen Pagliuca and Jeff Ubben.
SITE was advanced in cooperation of Professor David Lobell of Stanford University who is a genius Director of Food Security and the Environment, who is known for the purification of the oil palm trees aging identification procedure in Nigeria. The deduction established groundwork data returns for the first section of SITE.
The application balances advancing geospatial equipments to conclude the quantity of palm oil planted in an area and the yearly returns together with the company’s self- owned information on type of soil, rainfall, abundance of farmers and third party information from some other organisations to give an active and adaptable view farming activity like: the International Institute of Tropical Agriculture, Foundation for Partnership Initiatives in the Niger Delta and Rocky Mountain Institute.
The set of information will be used by Releaf to educate Reinforcement Learning Models in SITE that identity the most ideal placement of supply chain installation for consumer goods manufacturers thereby designing an efficient connection with Africa’s decentralised farming method.
Kraken 2, a cheaper version of Releaf’s Kraken which is West Africa’s most improved palm nut de-sheller is just as effective as its previous model which is priced half as much and more profitable because of its high density in farming areas.
Chief Technology Officer and co-founder of Releaf, Uzoma Ayogu, said, “SITE and Kraken II are the next steps in our plan to fundamentally transform the efficiency of agricultural supply chains in Africa and we are excited to have partnered with an exceptional cohort of investors and collaborators to roll out these technologies. To make food supply chains profitable, we must maximize extraction yields with leading processing technology and minimize logistics costs by bringing processing capacity closer to farmers. Before Releaf, stakeholders had to choose between one or the other – large factories had great technology but were far away, leaving most farmers with rudimentary technology to process their crops. We’re now able to maximize both.”
It is predicted that by the end of the 21st century, Africa will represent 40% of human population and the increasing consumer goods market will be known as its first universally prominent industrial sector as Releaf’s technology is created to hasten the industrialization and guarantee success for all.