Foodpreneurs Hub, a pioneering foodtech platform founded in Nigeria, has successfully secured $500,000 in pre-seed investment to further its commitment to tackling food insecurity throughout Africa. The identities of the investors participating in this funding round were not disclosed by the company.
This financial boost is set to propel Foodpreneurs Hub’s efforts in addressing the significant challenge of food wastage in Africa, where over 40% of food is lost post-harvest. The startup, co-founded by CEO Olushola Oladejo and COO Yosola Oke, is dedicated to empowering African food entrepreneurs through a variety of support mechanisms, including training, mentorship, and facilitating strategic partnerships.
By focusing on food processing entrepreneurship, Foodpreneurs Hub aims to mitigate food loss and enhance food security, thereby contributing to the sustainability of the food supply chain on the continent.
In a recent dialogue, Oke articulated the startup’s vision, stating;
Our mission is to democratise food processing. We are fostering a community that enables aspiring entrepreneurs to innovate, generate employment, and bolster food security across Africa.
Foodpreneurs Hub positions itself as an all-encompassing platform for African food innovators, providing guidance on product development, business strategy, and market analysis. Among its initiatives is the “FoodStars Business Scale-Up” program, a six-week mentorship scheme that offers entrepreneurs in the food sector the opportunity to present their projects and vie for funding awards up to $1,000.
This latest injection of funds marks a significant achievement for Foodpreneurs Hub, building on previous financial support. In May 2024, The Nation reported that the startup received a substantial $5 million investment from Fusen Funds, an investment led by American billionaire Chris Klaus. This funding was directed towards enhancing the support Foodpreneurs Hub offers to food entrepreneurs, aiding them in navigating the practical hurdles encountered in the industry.
Foodpreneurs Hub is committed to playing a pivotal role in securing Africa’s food future by supporting entrepreneurs in the food processing domain. Oladejo emphasizes the startup’s holistic approach, stating, “We’re not merely addressing the symptoms of food insecurity; we are attacking its root causes by empowering the forthcoming wave of food innovators.”
With this fresh round of funding, Foodpreneurs Hub is well-positioned to expand its influence across Africa, steadfast in its mission to promote entrepreneurship, encourage sustainable development, and pave the way for a food-secure continent.
