The innovative agricultural technology startup, Khula has just announced its $1.3 million seed round which was raised in June last year to accelerate its goal to help African farmers strive.
This announcement coincides with the launch of its recent Inputs App.
Led by AECI, South African agrochemical industry, the round included E Squared, an impact investment fund also based in South Africa.
Leveraging digital technology to enhance agriculture, trade, marketing and all that’s needed to ease operation in the sector, the new application will help in enabling the ease and efficiency of the agricultural supply chain.
Connecting local farmers to investors, the application will also link them to local and international suppliers and service providers, allowing these farmers to sell in bulk.
“Khula! has very attractive fundamentals, a sizable addressable market, app development capabilities, key agri-business networks and a management team that wishes to work with AECI as their preferred agri-input and technical advisory partner,” said managing director of AECI Plant Health, Quintin Cross.
Khula was founded by Karidas Tshintsholo, Matthew Piper and Jackson Dyora in 2016. The startup has several achievements including the MTN Business App of the year in South Africa for 2018/2019, was among the 10 Social Enterprises in the World in the Chivas Regal Global Venture Competition in 2019 and won the African stage of the KPMG Global Tech Innovator competition.
Commenting on the seed round, Tshintsholo had this to say:
“AECI is exactly the kind of investor we were looking for at this early stage – we did not want an investor at the table who was ONLY going to ask us how we’d performed in a specific quarter, we wanted a long term partner that would execute with us. A partner with a great reputation in the industry and with an incredible distribution network; a partner whose long term success was tied to a business model like ours. And AECI fits that description perfectly for us.”