ADAP Fund 2 – Cowtribe Inc – Feb 16th 2022
ADAP Capital LLC is delighted to announce its investment in Cowtribe Inc. This is ADAP Fund 2’s 14th portfolio investment (25th for ADAP to date). Based in Tamale, Ghana, Cowtribe utilizes its smart logistics platform to deliver livestock products for last-mile farmers. Cowtribe’s unique approach provides rural customers with access to data and quality products, providing more opportunities for longer term planning with greater risk mitigation and increased efficiency.
“We’re excited to partner with ADAP as we expand beyond the 5000 smallholder livestock farmers that we have worked with to date and continue to adjust and improve our model to best meet the needs of our customers”. said Peter Awin, CEO & Co-Founder “ADAP’s due diligence process encouraged us to really focus on the critical needs of our business and to follow our vision for sustainable impact. We’re focused on achieving milestones for long term growth as we move towards our goal of having a technology platform that enables a low-cost solution to the livestock vaccine delivery problem”
With their unique model structure, Cowtribe partners with a network of agro vet retailers, using real-time data to make inventory management decisions that directly impact the most marginalized communities. Vaccines are long established to be one of the biggest innovations for rural farmers, but being able to consistently afford them and guarantee quality has been elusive for many. Data and education are necessary for farmers to know what they need and the best timeframe for effectiveness. When vaccines are delivered and coupled with other complementary animal healthcare products to ensure affordable price points, farmers’ livelihoods increase dramatically.
“In Ghana alone there are over 3 million livestock farmers who lose over 30% of their livestock to preventable diseases. The need for quality vaccines across sub-Saharan Africa is growing and ensuring that farmers have access to what they need at a price point they can afford is critical” said ADAP Founder Andy Lower, “ADAP is excited to work with Peter and his team and play our part in supporting Cowtribe as they fulfill their potential of creating and capturing value in the transformation of agriculture in Ghana and beyond.”
ADAP’s investment will be matched by a couple of existing Cowtribe investors and the company will use this investment to increase sales partners and continue to strategically grow revenues. As Cowtribe continues to develop their technology platform, further investment in analytics will lead to great efficient and deeper impact. ADAP Advisory will partner with Cowtribe to continue to create the necessary foundations for long term expansion and sustainability ahead of a planned equity round later in 2022.
ADAP Capital has a diverse portfolio of pioneering social entrepreneurs who have innovative models that are eradicating extreme poverty in emerging markets. By investing early and then partnering with the entrepreneurs as they work through the pioneer gap, ADAP creates and captures untapped value. ADAP is committed to an inclusive investment approach; 73% of the current Fund 2 portfolio founders are female founders, 91% are people of colour. For more information please email firstname.lastname@example.org