South African agtech platform raises funding from existing investors
Khula! has raised about $6.8 million in the first part of its Series A funding.
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Khula!, a South Africa-based agritech startup that connects subsistence and commercial farmers to agricultural supply and marketplaces, has raised ZAR126 million (about $6.8 million) in the first part of its Series A funding. The funding was an internal round with its existing shareholders, led by E Squared Investments, along with Absa Group, AECI, and PepsiCo's Kgodiso Development Fund.
"We are now opening the remainder of the round and inviting new external investors … It is an incredible vote of confidence to have all our existing investors re-investing in the round, it shows incredible confidence in the team and the work that we have done thus far. The funding is going to enable us to scale our impact to more farmers in South Africa and begin work in other markets," commented Karidas Tshintsholo, CEO and founder of Khula!
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