Foodpreneurs Hub, a pioneering foodtech platform founded in Nigeria, has successfully raised $500,000 in pre-seed funding, furthering its mission to combat food insecurity across Africa. While the identities of the investors remain undisclosed, this new capital is poised to significantly boost the company’s efforts in reducing food wastage and empowering African food entrepreneurs.
Addressing Africa’s Food Wastage Crisis
The startup’s mission is particularly timely given that over 40% of food in Africa is lost after harvest. Co-founded by CEO Olushola Oladejo and COO Yosola Oke, Foodpreneurs Hub seeks to tackle this issue through a holistic approach, empowering food entrepreneurs by offering training, mentorship, and strategic partnerships.
By focusing on food processing entrepreneurship, the platform is not only reducing food loss but also enhancing food security, contributing to the sustainability of the continent’s food supply chain.
Empowering Entrepreneurs Through Innovation
As part of its comprehensive support system, Foodpreneurs Hub has launched several initiatives aimed at fostering innovation within the food processing sector. One standout program is the “FoodStars Business Scale-Up,” a six-week mentorship scheme that provides entrepreneurs with hands-on training, networking opportunities, and the chance to compete for funding awards of up to $1,000.
“We are fostering a community that enables aspiring entrepreneurs to innovate, generate employment, and bolster food security across Africa,” said Oke, emphasizing the startup’s commitment to democratizing food processing and entrepreneurship.
Building on Momentum with Strategic Funding
This recent $500K funding round builds on earlier financial support. In May 2024, Foodpreneurs Hub secured a substantial $5 million investment from Fusen Funds, an initiative led by American billionaire Chris Klaus. That funding helped the company enhance its offerings, making it easier for food entrepreneurs to navigate the many challenges of the industry.
CEO Oladejo highlights the platform’s broader vision: “We’re not merely addressing the symptoms of food insecurity; we are attacking its root causes by empowering the forthcoming wave of food innovators.”
Paving the Way for a Food-Secure Africa
With this latest capital injection, Foodpreneurs Hub is well-positioned to extend its reach across Africa. By supporting food processing entrepreneurs and fostering sustainable development, the platform aims to make a lasting impact on the continent’s food future.
Foodpreneurs Hub remains steadfast in its mission to promote entrepreneurship, drive innovation, and create a food-secure Africa—one entrepreneur at a time.