Nigerian startup Releaf raised $3.3 million in a pre-Series A funding round and developed technological solutions to stimulate the industrialization of palm oil processing in Nigeria. This fundraising follows on the heels of $4.2 million received in 2021

The funding round was led by Samurai Incubate Africa. He reinvested after leading Releaf's startup cycle, with the participation of Consonance Investment Managers. Stephen Pagliuca and Jeff Ubben also invested. This funding will allow Relief to launch two new technologies to improve the palm oil value chain, the portable version of its palm nut sheller, Kralen II, and SITE, a geospatial mapping application that provides information on the most profitable positioning of food processing assets. In Nigeria, the palm oil market is worth $4 billion and includes more than 4 million smallholder farmers.