Agritech startups receive $220m

September 23, 2026 by Our Reporter

Agritech startups receive $220m

Nigeria remains one of Africa’s most important markets for agricultural technology, with agritech startups and small businesses attracted between $220 million and $270 million in disclosed funding from 2022 through 2025.

Disrupt Africa’s African Tech Startups Funding Report 2022 recorded $72.77 million raised by Nigerian agritech startups, out of $132.825 million raised by the sector across Africa. Nigeria therefore accounted for about 55 per cent of the continent’s agritech funding that year.

The 2022 figure was heavily influenced by a single transaction of Thrive Agric raising $56.4 million in debt financing from local commercial banks and institutional investors, alongside a $1.75 million co-investment grant from the USAID-funded West Africa Trade & Investment Hub.

Disrupt Africa described the transaction as one of the largest agritech funding rounds on the continent that year.

It noted that Thrive Agric and Kenya’s Apollo Agriculture together accounted for more than 80 per cent of Africa’s agritech funding that year.

Disrupt Africa recorded $84.64 million in agritech funding across Africa in 2023, a 36.3 per cent decline from $132.825 million in 2022. Within Nigeria, just five agritech startups raised a combined $6.75 million, according to the same report.

Individual transactions nevertheless continued to emerge. Releaf, an agricultural supply-chain technology company, raised $3.3 million in pre-Series A bridge financing in January 2023, following a $4.2 million seed round in 2021.

in 2024, Disrupt Africa recorded $47.085 million in agritech funding across Africa that year, down 44.4 per cent from $84.64 million in 2023. Only 14 African agritech startups raised funding, compared with 24 in 2023.

AgFunder’s AgriFoodTech Investment Report 2025 recorded $192 million across 91 agrifoodtech deals in Africa in 2024.

Nigeria attracted $26 million, placing it behind Kenya, which received $95 million, while Egypt also recorded $26 million.

According to Briter Intelligence, African agritech funding reached about $483 million in 2022 before falling to $194 million in 2023, recovering slightly to $206.9 million in 2024 and then declining again to $168.1 million in 2025.

This year in May 2026, Sabou Capital announced a $2 million impact-linked debt facility for Tomato Jos Farming and Processing, a Kaduna-based tomato processor. The naira-denominated facility is intended to expand the company’s processing capacity and smallholder farmer network.

AgFunder’s data have placed Nigeria among Africa’s leading agrifoodtech markets, while the country’s large agricultural economy and extensive smallholder farming base continue to attract companies working in agricultural finance, supply chains, processing, market access and climate resilience.