Source: Ghana Web
Ikenna Nzewi, a Nigerian entrepreneur and co-founder of Releaf, is at the forefront of revolutionizing the agri-tech industry in Africa through innovative technological hardware that streamlines the sale of high-quality raw materials to food factories in the region.
His forward-thinking mindset and passion for sustainable agriculture are the driving forces behind his groundbreaking initiative, which promises to transform the industry.
Nzewi’s exceptional expertise, with a bachelor’s degree in computer science from Yale University and experience as an associate consultant at Bain & Company, has been invaluable in leading the charge at Releaf.
Through his startup, the Nigerian entrepreneur is establishing smaller factories in proximity to smallholder farmers, providing FMCG manufacturers with easy access to high-quality raw materials, and driving positive economic growth and sustainability in the region.
Since founding Releaf in 2017, Nzewi has recorded incredible success in transforming the sale of high-quality raw materials to food factories in Africa.
Releaf’s technology enables decentralized purchasing and processing of raw crops, improving profitability and preventing post-harvest loss for a more climate-resilient future.
The startup has leveraged its supply chain technology to process more than 10 million kilograms of palm nuts, resulting in a remarkable sevenfold increase in monthly revenue year-on-year.
The success of its pilot, Kraken, has not only validated its thesis but also attracted significant interest, as evidenced by a pre-Series-A funding round led by Samurai Incubate Africa, which raised an impressive $3.3 million.
The $3.3 million in funding will be used to launch two new technologies: Kraken II, a portable version of Releaf’s award-winning palm nut de-sheller, and SITE, a geospatial mapping application that assists in determining the most profitable positioning of food processing assets.
Under Nzewi’s visionary leadership, the company has successfully secured over $100 million in supply contracts from industry giants such as Presco and PZ Cussons, resulting in a tripled valuation since its seed round.
However, his impact extends beyond financial success, as his passion for technology and sustainability in the agricultural sector is transforming the food industry in Africa and inspiring a new generation of innovators on the continent.
As a distinguished fellow at Harambeans, an alliance of African entrepreneurs, Nzewi is dedicated to cultivating an entrepreneurial ecosystem to foster scalable solutions and empower young innovators across Africa.
Source: Ghana Web
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