Startups
Releaf is a social venture founded in 2017. The firm invents and operates proprietary food processing hardware to reduce post-harvest loss in the sustainable oil palm sector.
Releaf provides smallholders with extension services, serves as an off-taker of their produce, and processes the raw material into factory-grade inputs for vegetable oil factories. In addition to its hardware, Releaf utilizes digital technologies including USSD and open banking to work seamlessly with its network of over 2,000 smallholder farmers, who have supplied over 15 million kilograms of quality palm kernel nuts to food factories.
Releaf is backed by Y Combinator, Breakthrough Energy Ventures, Consonance Investment Managers, Steve Pagliuca (Chairman of Bain Capital), Justin Kan (Co-founder of Twitch), and Iyin Aboyeji (Co-Founder of Flutterwave, Andela).
Releaf provides smallholders with extension services, serves as an off-taker of their produce, and processes the raw material into factory-grade inputs for vegetable oil factories. In addition to its hardware, Releaf utilizes digital technologies including USSD and open banking to work seamlessly with its network of over 2,000 smallholder farmers, who have supplied over 15 million kilograms of quality palm kernel nuts to food factories.
Releaf is backed by Y Combinator, Breakthrough Energy Ventures, Consonance Investment Managers, Steve Pagliuca (Chairman of Bain Capital), Justin Kan (Co-founder of Twitch), and Iyin Aboyeji (Co-Founder of Flutterwave, Andela).
Overview
Location
Nigeria, Akwa Ibom, Uyo
Employees
51-200
Total raised
$10.8M
Founded date
2017
Investors 8
| Date | Name | Website |
| Sign up to see | Sign up to see | Sign up to see |
| Virta Ventures | virtaventures.co | |
| Sep 17, 2021 | Y Combinator | ycombinator.com |
| Duke Capital Partners | dukecapitalpartners.duke.edu | |
| Samurai Incubate | samurai-incubate.co.jp | |
| Aleka Capital | alekacapital.com | |
| Flori Ventures | floriventures.com | |
| Metis Capital | metiscapitalpartnersltd.com |
Funding Rounds 3
| Date | Series | Amount | Investors |
| Sign up to see | Sign up to see | Sign up to see | Sign up to see |
| Jan 9, 2023 | Seed round | $3.3M | |
| Sep 15, 2021 | Seed round | $4.2M |
Mentions in press and media 28
| Date | Title | Description |
| Sign up to see | Sign up to see | Sign up to see |
| Feb 28, 2023 | Releaf Raises 250K in Funding | Releaf, a Nigerian agritech company, raised $250k in funding. Plesion Capital made the investment. The company intends to use the funds to expand its efforts to industrialize food processing in Africa. Led by Co-founder and CEO Ikenna Nzewi... |
| Jan 12, 2023 | The week in agrifoodtech: $42m for No Meat Factory, New Age Eats ‘lets go’ of pilot facility, Benson Hill co-founder passes away | This week, Canadian alt-protein startup No Meat Factory raised Series B funding, while down in the US, New Age Eats let go of its nearly completed pilot facility. There were two new deals for forestry-related projects along with new funding... |
| Jan 12, 2023 | Что мы будем есть завтра? | Сгенерировано нейросетью DALL-E для этой статьи В этом году человечество преодолело рубеж 8 миллиардов людей. Если посмотреть на прогресс, на достижения медицины, культуру гигиены и на график рождаемости — то становится очевидно, что уже со... |
| Jan 10, 2023 | Releaf secures $3.3M to transform agricultural supply chains in Africa | Releaf, a technology company that makes it easier for consumer goods manufacturers in Africa to access high-quality ingredients for their factories, has raised $3.3 million in an oversubscribed Pre-Series A funding round. The new funding wi... |
| Jan 9, 2023 | Nigerian agritech Releaf gets more capital as it launches new tech for food processing | Releaf, a Nigerian agritech startup that supplies ingredients (starting with the oil palm) to consumer goods manufacturers and their food factories, has received $3.3 million in an oversubscribed pre-Series A round. The Jack Ma Foundation-b... |
| Jan 9, 2023 | Nigerian agritech Releaf gets more capital as it launches new tech for food processing | Releaf, a Nigerian agritech startup that supplies ingredients (starting with the oil palm) to consumer goods manufacturers and their food factories, has received $3.3 million in an oversubscribed pre-Series A round. |
| Jan 9, 2023 | Nigerian agritech Releaf secures $3.3m pre-series A funding | The Nigerian agritech start-up Releaf has raised $3.3 million in an oversubscribed pre-series A funding round. The new funding will support the launch of two new technologies being rolled out by the company making it easier for African cons... |
| Jan 9, 2023 | Nigerian agritech Releaf secures $3.3m pre-series A funding | The Nigerian agritech start-up Releaf has raised $3.3 million in an oversubscribed pre-series A funding round. The new funding will support the launch of two new technologies being rolled out by the company making it easier for African cons... |
| Jan 9, 2023 | YC-backed Releaf raises $3.3 million pre-Series A to improve technologies for food processing in Africa TechCabal’s 2021 Year-End report Success! | 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 f... |
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FAQ about Releaf
When was Releaf founded?
Releaf was founded in 2017.
How much funding has Releaf raised?
Releaf has raised $10.8M in total across 3 funding rounds.
What funding rounds has Releaf raised?
Parsers VC lists 3 funding rounds of Releaf, among them a seed round of $3.3M on Jan 9, 2023 and a seed round of $4.2M on Sep 15, 2021.
Who has invested in Releaf?
Parsers VC lists 8 investors of Releaf, among them Y Combinator, Virta Ventures and Duke Capital Partners.
What has the press written about Releaf?
Parsers VC has collected 28 articles mentioning Releaf, among them “Releaf Raises 250K in Funding” (Feb 28, 2023) and “The week in agrifoodtech: $42m for No Meat Factory, New Age Eats ‘lets go’ of pilot facility, Benson Hill co-founder passes away” (Jan 12, 2023).
Is Releaf still active?
Yes, Releaf is active; its latest activity on Parsers VC dates from Jun 19, 2023.