Kenyan startup based Stable Foods has raised USD$600,000 in funding to build out its climate-smart smallholder food production system.
A portfolio company of Pyramidia Ventures, an agrifood-tech venture studio, Stable Foods has developed an integrated solution that includes Irrigation-as-a-service (IaaS), provision of inputs and offtake contracts, and training on regenerative agriculture best practices. These services are offered as a menu to smallholder farmers, allowing them to layer solutions as suits their individual needs.
The US$600,000 funding comes from Acumen Resilient Agriculture Fund (ARAF) and Mercy Corps Ventures, and will be used to scale up Stable Foods’ proof of concept to 500 farmers by the end of 2023.
“We are thrilled with this round of funding in our very first venture coming out of the studio,” said Ruth Bertens, founder and managing partner of Pyramidia Ventures. “ARAF and Mercy Corps Ventures are fully aligned with Stable Foods’ mission and we could not be more proud of the entire Stable Foods team for getting such high-quality partners on board.”
“Stable Foods is another great addition to ARAF’s portfolio companies where we invest in innovative business models that help smallholder farmers adapt to climate change,” said Tamer El Raghy, managing director of ARAF. “The negative impact of climate change on rain patterns can’t be overstated and we believe that the Irrigation-as-a-Service solution that Stable Foods is offering represents a revolutionary service in the market.”