ACDI/VOCA’s impact investing subsidiary, AV-Ventures LLC, has completed a new investment in Agroinnova Limited, a Ghanaian AgTech provider on a mission to digitalize agriculture in Africa. Agroinnova is also a portfolio company of Meltwater Entrepreneurial School of Technology (MEST) Africa, which provided business incubation services and early-stage startup support to Agroinnova when it launched its operations in 2017.
The investment by AV-Ventures will support Agroinnova to develop and roll out more farmer-centered digital innovations that address challenges faced by smallholder farmers in agriculture value chains in West Africa. The investment from AV Ventures will also enable Agroinnova to accelerate the delivery of digital products and services to smallholder farmers, many of whom are women and youth, and help contribute to improved economic livelihoods of these farmers.
“Through its investments, AV Ventures seeks to bridge the financing gaps facing emerging-market agribusinesses. We help early- and growth-stage companies, such as Agroinnova, that deploy cutting-edge digital technologies to unlock their huge untapped potential and help catalyze their growth and impact on smallholder farmers.”
— GEOFF CHALMERS, AV VENTURES MANAGING DIRECTOR
Transforming Smallholder Farmer’s Activities Through Digitalization
Agroinnova, through its digital platforms, empowers farmers to digitalize their day-to-day farm activities and make data-driven decisions. Agroinnova also leverages its digital platforms to facilitate access to market opportunities, production inputs, and information on climate-smart agricultural practices for smallholder farmers. Agroinnova’s digital platforms demonstrate the transformative potential to revolutionize the agricultural sector through digitalization. With its cutting-edge technologies and innovative digital solutions, Agroinnova can contribute to enhancing the efficiency, sustainability, and profitability of key agricultural value chains, such as grains and poultry, which have a high participation rate among women and youth.
“As the CEO/Founder of Agroinnova, I envision a future where the power of digitalization, coupled with the financial support from AV-Ventures, unlocks the full potential of the agricultural sector. Through innovative technologies and strategic partnerships, we are building the foundations for the sustainable growth of the agriculture sector in Ghana and the sub-region.”
— MOSES MALLAGHAN, CEO OF AGRO INNOVA
Sustainable Impact On Smallholder Farmers
Through its established digital marketplace and other platforms, Agroinnova supports smallholder farmers and agribusinesses with real-time insights and linkages by connecting farmers directly with buyers and other value chain actors, enabling them to make informed decisions about resource allocation, best farming practices, yield optimization, and elimination of intermediaries. This enhanced level of precision and control not only maximizes productivity, but also helps farmers better adapt to climate change, minimizes environmental impact by reducing the unnecessary use of resources, and fosters fair and transparent pricing.
Together, Agroinnova and AV-Ventures will contribute to driving the digital transformation of the agricultural sector in Ghana and across West Africa, empowering smallholder farmers, and fostering sustainable climate smart agricultural practices. This will contribute to a more prosperous future for smallholder farmers, especially women and youth, and other key actors in the sector.
