Releaf ,an agritech startup disrupting Africa’s oil production industry, has secured $3.3 million pre-Series A funding. The funding round, which the startup says was oversubscribed, will support the roll-out of key technologies that could further drive the development and sophistication of Africa’s crude oil processing techniques, and possibly lead to the much-needed increase in vegetable oil production on the continent.
Ikenna Nzewi co-founder of Releaf says they took a much more broad approach to what the solution would be, but they really wanted to decide on a specific crop to work in and they found that opportunity in the oil palm sector.