Tomato Jos, a Kaduna, Nigeria-based agro-processing company focused on the local production of high-quality tomato paste for the African market, raised €3.9m in Series A funding.
The round was led by Goodwell Investments, via its West Africa partner Alitheia Capital, with participation from Acumen Capital Partners and VestedWorld.
The company intends to use the funds to expand operations and its business reach.
Established in 2014 and led by Mira Mehta, CEO, Tomato Jos is an agricultural production company focused solely on primary production of tomatoes, soya, and maize to connecting local farmers to domestic consumers.
The company currently directly supports over 70 smallholder farmers across three growing cycles. Growth plans include the installation of a drip irrigation system and a processing plant that can produce 24 tons of finished product per day. At scale, Tomato Jos will work with thousands of smallholder farmers on over 2,600 hectares of land, putting more than $1M of direct income into the local economy each year.
FinSMEs
19/05/2020