PixelBlue, the parent company of South African agritech startup Homefarm, has announced that it has secured R1.7 million (about $104 000) in initial investment to enable individuals, communities, and enterprises to grow more of their fresh food produce on-site where it is eaten.
CapaciTech, a start-up investment firm, is among its backers.
According to a press release, Homefarm’s completely automated indoor farms and farming-as-a-service concept allow anybody, anywhere to grow their own food. All of its products are designed and manufactured in South Africa, and its systems are based on unique designs and technology.
According to Homefarm CEO Michael Currin, the seed capital will help the company develop its operations, improve its service offering, and expand its marketing and distribution channels. The firm also sees chances to deliver its farms to clients in South Africa who are searching for simple and dependable indoor farming systems to give vegetables to their families, communities, and consumers all year round.
“We are confident about the positive trend in the smart indoor farming tech space, and feel very positive about playing an active part in Homefarm’s journey,” adds CapaciTech chief executive Matthew Emanuel. “Michael and team have worked conscientiously to develop a portfolio of key technologies and products that will make a meaningful impact to a growing market.”
A Look At What The Firm Does
Currin and his colleagues developed Homefarm in 2017 as an urban agricultural pioneer. The company was founded with the goal of bringing small-scale indoor farming to the mainstream consumer and commercial markets by developing and commercialising fast deployable, fully automated food producing systems.
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Currin founded Homefarm because he saw an opportunity to provide easy-to-use and visually appealing indoor farming systems for home usage to the consumer market. Initially targeting the demands of South African urban homes with the Homefarm appliance, the start-up has recently expanded its reach and product range by selling indoor farming systems to companies and consumers in both urban and peri-urban settings.
The company has also released its Homefarm commercial system, which is primarily aimed at businesses who wish to grow their own fresh vegetables on-site. This system, which is backed by Homefarm’s farming-as-a-service offering, may generate up to 15kg of food every month.
Homefarm now serves consumers in the United Kingdom, Europe, and Australia.
Homefarm funding Homefarm funding
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh