Stable Foods, a Kenyan business, has secured USD 600,000 to develop its climate-smart smallholder food production system.
Stable Foods, a portfolio firm of the agrifood-tech venture studio Pyramidia Ventures, has created an integrated system that combines irrigation-as-a-service (IaaS), the provision of inputs and offtake contracts, and training on best practices for regenerative agriculture. Smallholder farmers can layer solutions from this menu of services in accordance with their own needs.
The proof of concept for Stable Foods will be expanded to 500 farmers by the end of 2023 with the help of US $600,000 in financing from Mercy Corps Ventures and Acumen Resilient Agriculture Fund (ARAF).
“We are thrilled with this round of funding in our very first venture coming out of the studio,” said Ruth Bertens, founder and managing partner of Pyramidia Ventures. “ARAF and Mercy Corps Ventures are fully aligned with Stable Foods’ mission and we could not be more proud of the entire Stable Foods team for getting such high-quality partners on board.”
“Stable Foods is another great addition to ARAF’s portfolio companies where we invest in innovative business models that help smallholder farmers adapt to climate change,” said Tamer El Raghy, managing director of ARAF. “The negative impact of climate change on rain patterns can’t be overstated and we believe that the Irrigation-as-a-Service solution that Stable Foods is offering represents a revolutionary service in the market.”
