Kenyan Agritech startup, Twiga Foods, has raised a USD 50 Mn Series C round to scale its efforts in the East African nation and other neighboring countries. Creadev led the round with participation from Africa-focused firms TLcom, IFC Ventures, DOB Equity, and Goldman Sachs’ spinoff Juven, wrote follow-on checks too. First-time investors OP Finnfund Global and Endeavor Catalyst Fund participated as well.
The AgriTech startup which connects smallholder farmers to vendors connects vendors and outlets with farmers via an app to access different agricultural produce. Through its cashless mobile-based platform, vendors are able to place orders on demand from farmers. Twiga plans to use part of the funding to roll out low-cost manufactured food and non-food products under its brand before the end of the year.