Similarities between hardware and software

#Similarities between hardware and software software
#Similarities between hardware and software crack

вЂњNigeria has about 60% more demand for vegetable oil than it does supply.

Releaf then sells the vegetable oil to FMCG processors and local manufacturers, mainly in NigeriaвЂ™s South South region.

#Similarities between hardware and software crack

Releaf buys nuts from the farmers, then uses the Kraken to crack the nuts and crush the kernels into vegetable oil. So hereвЂ™s how the companyвЂ™s business model works. The result was Kraken, a proprietary patent-pending machine. Nzewi says the team saw an opportunity and set out to build a technology to help farmers crack oil palm nuts. But since the industry is quite fragmented, they have many challenges processing the oil palm because itвЂ™s a crop that requires serious processing power to extract vegetable oil from it.ДЇarmers typically go through this process by using rocks or inappropriate hardware - ineffective processes that lead to low-quality oil palm largely unfit as input for high-quality vegetable oil manufacturing. These farmers drive 80% of the production of oil palm. The oil palm market in Nigeria is a $3 billion one with over 4 million smallholder farmers cultivating farms where those crops are planted. And we found that opportunity in the oil palm sector,вЂќ Nzewi said to TechCrunch in an interview. вЂњWe took a much more broad approach to what the solution would be, but we really wanted to decide on a specific crop to work in. The Americans of Nigerian descent toured across 20 states and studied different value chains for crops spotting inefficiencies that could be solved by technology. The team would get a clearer picture of what it wanted to build when the founders moved back to Nigeria. EvenВ after graduating from Y CombinatorвЂ™s summer batch that year, Releaf toyed around with ideas around trade finance and a marketplace for buyers and sellers of agricultural products. When the pair started the company in 2017, the idea behind Releaf was not concrete yet as the team, based in the U.S., had not figured out product-market fit.ДЇirst, it planned to increase productivity in NigeriaвЂ™s agricultural sector using software. This allows them to get better processing yields and fewer logistics costs in the end, the farmer has more money to work with.

In addition to the seed round, the agritech startup secured $1.5 million in grants from The Challenge Fund for Youth Employment (CFYE) and USAID.ДЇounded by Ikenna Nzewi and Uzoma Ayogu, Releaf focuses on value chains where smaller factories are set up near smallholder farmers. Individual investors like Stephen Pagliuca, the chairman of Bain Capital and Justin Kan of Twitch also participated. Pan-African focused venture capital firms Samurai Incubate Africa, Future Africa and Consonance Investment Managers led the round. Today, the company is announcing that it has raised $2.7 million in seed toward this effort.

#Similarities between hardware and software software

Nigerian agritech startup Releaf is solving this by building proprietary hardware and software solutions to make these farmers and food factories more efficient and profitable. Farmers, witnessing post-harvest loss, also get paid less and miss the opportunity to invest in their crops production. With distance and logistics problems, farmersвЂ™ crops can go bad and when factories buy them, it affects their processing yields and price. And though NigeriaвЂ™s food processing systems have a keen resemblance to the West with respect to big factories and huge economies of scale in high-demand cities, farmers still suffer from poor logistics networks. The distance between their farms and the nearest processor is key for smallholder farmers who need to process their crops.