Kenya's Twiga Foods raises $10.3mn to expand operations
Twiga Foods, a Kenyan business-tobusiness food supply platform, said it has raised $10.3 million in Series A funding to expand its operations.
The company said the financing will enable it to increase the number of vendors it is able to serve each day in Nairobi, diversify its product portfolio, and introduce advanced supplier services.
The Series A funding round was led by Wamda Capital, but it also includes Omidyar Network, DOB Equity, Uqalo, 1776, Blue Haven Initiative, Alpha Mundi, and AHL Venture Partners. The company said the financing comprised $6.3 million in equity and $4 million in debt instruments.
Founded in 2014, Twiga is a mobile-based food supply system that allows customers to order daily stock for basic produce staples, aggregates demand, and pushes it to producers. Twiga is the largest distributor of several food staples in Kenya.