Khula, a South African agri-tech startup, has secured US$6.8 million in its ongoing Series A funding round, attracting investment from key players including Absa Bank and PepsiCo. The funding will fuel the expansion of its integrated digital platform designed to revolutionize the agricultural supply chain.
Founded in 2018, Khula has developed a comprehensive platform accessible via a user-friendly app, connecting farmers and buyers through a fresh produce marketplace, an input marketplace, and a streamlined funder dashboard. This innovative solution simplifies transactions and payments, addressing critical challenges within the agricultural sector.
Starting with a pilot program of 400 farmers, Khula has rapidly grown into a vibrant network of over 7,000 active users. The platform now boasts more than 5,000 products, solidifying its position as a vital link between stakeholders across the agricultural industry.
The new investment will enable Khula to further scale its operations and expand its reach. The company plans to extend the Series A funding round later this year to capitalize on growing demand for its services.
Key investors in this round include Absa Bank, PepsiCo's Kgodiso Fund, AECI, and E Squared. Absa Group, a leading financial institution with a significant presence in South African agricultural finance, highlighted that this investment aligns with its strategic focus on supporting digitization initiatives that enhance efficiency and productivity within the agricultural sector.
As Khula builds on its existing momentum, the funding will support continued expansion, bringing more farmers and agribusinesses into its ecosystem. This will strengthen the digital infrastructure that connects them, fostering greater collaboration and driving innovation across the agricultural landscape.
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