Kenya’s Twiga Foods raises $30 million
Kenyan agritech startup, Twiga Foods has raised a total of $30 million from lenders and investors, including IFC, TLcom Capital, and Creadev, led by Goldman Sachs, according to a report from TechCrunch.
Twiga, which links farmers and vendors to fair, trusted, modern markets, says it will use the funds to set up a distribution centre in Nairobi and deepen its conversion to offering supply chain services for both agricultural and FMCG products.
The company will also invest in expanding into more cities in Kenya, including Mombasa, as well as a pan-African expansion, most likely in Francophone West Africa, slated for the third quarter of 2020.
