Nigeria’s Releaf and Foodlocker Emerge Winners of $120k AfDB AgriPitch Competition

By November 21, 2020 NEWS

Two Nigerian agritech startups, Releaf and Foodlocker, along with Kenya’s Mhogo Foods have emerged winners at the finals of the $120,000 African Development Bank (AfDB) AgriPitch Competition.

AfDB announced this in a twitter post via its official handle.https://platform.twitter.com/embed/index.html?creatorScreenName=technextdotng&dnt=true&embedId=twitter-widget-0&frame=false&hideCard=false&hideThread=false&id=1329458379304144909&lang=en&origin=https%3A%2F%2Ftechnext.ng%2F2020%2F11%2F20%2Fnigerias-releaf-and-foodlocker-emerge-winners-of-120k-afdb-agripitch-competition%2F&siteScreenName=technextdotng&theme=light&widgetsVersion=ed20a2b%3A1601588405575&width=550px

The three (3) winning startups were selected from nine (9) finalists classified under three categories – Early Startups, Mature Startups and Women-Empowered Businesses.

AgriPitch organisers had received over 2,500 applications and evaluated 605 proposals from 30 African countries. 25 finalists from across 12 countries were eventually shortlisted for the prize. After qualifying for a two-week business development boot camp, the top 9 startups selected pitched their solutions to a panel of judges and investors at a virtual event.6 Nigerian Startups Among 25 Finalists Selected for $120,000 AfDB AgriPitch Competitionhttps://technext.ng/2020/11/12/6-nigerian-startups-among-25-finalists-selected-for-120000-afdb-agripitch-competition/embed/#?secret=1VHJD7oBhT

Femi Aiki’s Foodlocker won the $40,000 prize for mature startups while Ikenna Nzewi’s Releaf was awarded $20,000 as the winner of the early startup category. Among the women-empowered businesses, Elizabeth Gikebe’s Mhogo Foods received $20,000 in funding.

Runners-up in the three categories featured Baby GrubzLono and Bringo Fresh from Nigeria, Cote d’Ivoire and Uganda respectively. Noel N’guessan’s Lono was awarded a $20,000 prize while Oluwaseun Sangoleye of Baby Grubz and David Matsiko’s Bringo Fresh received $10,000 each.

Here’s what you should know about the winners.

Foodlocker

Founded by Femi Aiki in 2017, Foodlocker is an Ibadan-based e-commerce startup which supplies consumers with fresh foods and grocery sourced from local farmers and traders. The startup supports smallholder farmers with technologies for the production of foods such as tomatoes and chicken.

FoodLocker is a startup from FFA's fintech portfolio
Femi Aiki, CEO Foodlocker

Foodlocker aggregates fresh agricultural produce from local farmers, pays them fairly and provides an online platform for customers to purchase these products at affordable prices. People can alternatively buy foods and groceries from its offline stores.

Speaking on the $40,000 AfDB funding, Femi said:

Now we can afford to buy more inputs. We can now afford to bring on board more experts in those value chains who can support smallholder farmers more remotely. That money will support the company to get results.Femi Aiki, CEO Foodlocker

Using deep machine learning, Foodlocker forecasts the demand for consumer goods and speeds up the sale of farm-fresh foods through its web app.

Source: Technext