Ghanaian agritech startup CowTribe has secured a $300, 000 investment from the US-based Draper Richards Kaplan Foundation.
The startup made the announcement earlier today in a post on Twitter. In a subsequent phone call with Ventureburn, CowTribe co-founder and CEO Awin Peter (pictured above, second from right) said the investment was in the form of a convertible note. The deal was concluded a week ago.
He added that the investment was the “biggest” the startup had secured since he founded the Tamale-based startup in 2015 with COO Alima Bawah (pictured above, second from left).
In addition to the funding, the Draper Richards Kaplan Foundation will also assist the startup with marketing strategy and governance.
CowTribe provides an on-demand mobile (USSD-based) subscription service which connects livestock farmers with veterinarians, and helps deliver animal vaccines and other livestock healthcare services to farmers.
We've got an exciting news for you this morning. @CowTribe has secured a $300,000 USD #seedfunding investment from the Draper Richards Kaplan Foundation. @DRKFoundation, @CTAflash, @Ventureburn ,@DisruptAfrica, @MESTAfrica, @alimabawa @awinpeter
— Cowtribe (@CowTribe) November 8, 2018
Peter said the funding will help the startup up expand in Ghana, improve its delivery infrastructure as well as bring in more users to its platform.
He explained that CowTribe, which currently operates in three regions across Ghana, is now looking to expand its services to seven additional regions, including Brong-Ahafo and Ashanti. In addition, Peter said the startup is also looking to expand into Senegal and Mali.
How Cowtribe Works
- Farmer subscribes for our service using his/her mobile phone. We collect the relevant information about the farmer and his/her animals to help us better understand his needs.
- Cowtribe team use the farmer’s information to create a schedule that’s tailored to the his/her exact needs. And then we manage all schedules and send him reminders when his animals are due for care.
- They then coordinate the provider side, managing all aspects of the service, obsessing over every detail to ensure that a qualified Vet comes to deliver the right treatment to his animals.
Targeted Projections
He also said CowTribe is targeting 100 000 farmers on its platform by the end of next year — up from the 30 000 it currently works with.
CowTribe was one of the four regional startups selected in May to pitch in the finals of the MEST Africa Challenge.
In July, the startup was selected as the winner of the Seedstars Accra pitch event ahead of nine other tech startups. In September CowTribe received a €15, 000 grant from the Technical Centre for Agricultural and Rural Cooperation (CTA) organized Pitch AgriHack 2018 competition held in Kigali Rwanda.
In 2016, the company was a runner up at the British Council’s Duapa Challenge. It was also one of the finalists at the 2016 edition of Pitch AgriHack.
