South African agri-tech startup Nile announced on Tuesday that it had raised ZAR200 million (US$11.3 million) in funding to accelerate its growth across Southern Africa. This fresh capital injection aims to expand Nile’s digital marketplace, which connects farmers directly with buyers, streamlining trade and improving transparency.
Nile’s digital platform transforms fresh produce trading
Nile, founded in 2020, targets agricultural trade issues such as price transparency, quality verification, payment speed, and product traceability. The startup’s business-to-business platform enables farmers and commercial merchants to transact securely and efficiently, reducing food waste and improving cash flow.
Since its launch, Nile has facilitated trading of over 30 million kilograms of fruits and vegetables across five countries and 35 towns in Southern Africa. Its users range from small-scale farmers to large commercial producers, and buyers include large South African-listed companies and small family-owned distributors.
Nile’s co-founder and CEO Louis de Kock said: “We are ecstatic to have Naspers Foundry join us in our effort to make fresh food more accessible to people all around Africa.” He added that the new funding will support Nile’s cross-border expansion across the continent.
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Strong investor backing signals confidence in Nile’s growth
The latest funding round was led by Naspers Foundry, which contributed ZAR40 million (US$2.5 million), alongside Platform Investment Partners, Raba Capital, and Base Capital. Naspers Foundry’s CEO Fabian Whate praised Nile’s innovative approach: “Nile is a terrific example of tech entrepreneurs creating creative solutions that solve people’s everyday needs by providing a fully integrated ecosystem that promotes confidence between consumers and sellers on the platform.”
Nile’s ability to attract substantial investment highlights the growing interest in agri-tech solutions across Africa. The continent’s agri-tech sector has seen a surge in funding, with $561 million raised across 96 deals in 2024 alone. South Africa ranks second in agrifoodtech investment on the continent, with $511 million secured between 2014 and 2023, reflecting the country’s strong ecosystem of over 315 agri-tech companies.
Nile’s success story fits into this broader trend of digital innovation transforming agriculture in Africa, where startups are leveraging technology to improve market access, efficiency, and livelihoods for millions of farmers.
The new $11.3 million funding round positions Nile to scale its digital marketplace further, helping more farmers trade and transact digitally across Southern Africa. This investment underscores the potential of technology-driven solutions to reshape agricultural value chains and enhance food distribution on the continent.