Taimba, a Kenyan agri-tech firm that operates a mobile-based cashless platform that links rural, small-scale farmers to urban retailers has announced a KES 10 million funding from Gray Matters Capital.
The Nairobi-based startup has crafted its trade by working directly with farmers in remote areas and assists them to deliver their produce to informal grocers, hospitals, and schools, among other institutions within the city. This has helped the firm cut their reliance on middlemen, as well as shrinking the agricultural value chain.
Taimba says it is serving more than 2000 farmers and 15 farmer Saccos that help in the distribution of farm produce, including tomatoes, vegetables, and carrots, to mention a few.
Notably, Taimba is testing a contract-based agreement with farmers, who are then offered up to 30 percent higher prices than what brokers give. The firm has also partnered with banks to facilitate loan issuance to farmers to buy fertilizers and certified seeds.
The investment from the American funder will be used to expand Taimba’s warehouses, set up cold storage facilities, and improve delivery logistics.
Taimba is also planning to open shop in Kisumu and Mombasa by 2020.
“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 Kavuisya, Co-Founder and CEO, Taimba.
“Taimba will be all about quality fresh produce grown with good farming practices. We plan on using technology to fine-tune traceability through-out the value chain-from seeds used to other farm inputs. 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,” added Joan Kavuisya, Co-Founder and Head of Product Development.