The Nairobi-based B2B Agri-Tech startup, which runs a mobile-based cashless platform connecting rural small-scale farmers to urban retailers, secured the funding from Gray Matters Capital’s gender lens portfolio GMC coLABS.
“By delivering more money in their hands, in addition to the convenience of time, the women served by Taimba have an opportunity to create a better livelihood for themselves and their families”, said Jennifer Soltis, Portfolio Manager – coLABS, Gray Matters Capital.
Dominique Kavuisya, Co-Founder and CEO of Taimba expressed delight at the announcement.
“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.” Said Dominique.
The funding marks the fourth investment by the impact investor in Africa after Rwanda based ARED, Ghana-based Redbird Health Tech, and Nigeria based Sonocare.
Taimba sources agricultural products directly from the rural small-scale farmers and delivers directly to informal greengrocers, schools, hospitals and restaurants within Nairobi, thereby removing the middlemen and shrinking the agricultural value chain.
By piloting open contracts with Kenyan farmers, Taimba offers 20-30% higher prices as compared to brokers, helping generate better ROI along with direct linkage to urban markets. This also helps reduce post-harvest wastage by 50%.
The startup currently has over 2,000 farmers in its portfolio and engages with 15 farmer SACCOs (Savings and Credit Co-operatives) selling produce such as potatoes, tomatoes, cabbages and carrots on one side and 310 customers on the other comprising informal greengrocers (85%), restaurants and cafés (10%) and Schools and hospitals (5%) based out in Nairobi.
Going forward, Taimba is planning to roll out a pilot in Mombasa and Kisumu city by next year and also introduce new products such as fruits, nuts and eggs as part of its farm product catalogue.
”We will expand our tech such that eventually there will be a simple solution that farmers and traders have a way to engage and benefit through us.” Said Joan Kavuisya, Co-Founder and Head of Product Development.
