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Digital Africa, a subsidiary of French development finance institution Proparco, has made its first investment in Ethiopia, backing agritech company ChipChip.
Founded in 2023, ChipChip connects Ethiopian farms with buyers through a platform that uses data and artificial intelligence to make distribution more efficient.
“Between farm and household, too much value is lost and food costs more than it should. We believe the team has the skills and ground knowledge to make this model work at scale,” said Sokhna Mbaye, investment associate at Digital Africa.
“The investment allows us to strengthen our platform, deepen our data layer and expand our network of farmers and B2B buyers,” said Bruk Getahun, co-founder and chief marketing officer of ChipChip.
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