Description
Myfugo is an ag-tech company based in Kenya serving smallholder dairy farmers by helping them purchase quality cow breeds and leveraging sensor technology to help them increase annual milk yield and income.
Market Opportunity/ Problem
According to Kenya Dairy Board, two million smallholder farmers produce 80% of the total milk produced in Kenya. However, these customers experience low productivity in milk yield and long calving periods. Myfugo offers financing for quality cow breeds that produce an average of 10-15 liters of milk per day from the standard 1 to 2 liters. This translates to an average income of US$100-US$150 per month compared to the current (US$20 – US$40).
Company Information
Years of operation
3
Type of organization
Private company
Stage of the business
Growth stage
Agribusiness focus
Enabling (Digital agriculture/aggregation platforms)
Agriculture value chain(s) focus?
Livestock
Primary country of operation
Kenya
Other country(ies) of operation
N/A
How many employees does your business have?
27
Does the business have more than 30% women ownership?
No
Does the business have more than 30% youth ownership (under 35 years)?
Yes
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
500k-1m
What is the split between equity and debt?
80% debt and 20% equity