Kenya Based Agri-tech startup ‘Tulaa’ Secures Sh 67Mn in seed financing
Kenya’s Tulaa startup that offers a mobile commerce platform for rural consumers and producers in Africa has raised $627,000(Ksh 67Mn) seed round to fund its continued expansion in the country as well as further development of Tulaa’s technology platform.
“We are thrilled to have this group of investors on board. The consortium brings not only capital, but also a terrific mix of experience and knowledge globally as well as in the Kenyan market. Together with the team of committed and passionate people who we have been fortunate to attract, the added experience of the investors’ positions us extremely well for growth.” Hillary Miller-Wise, Founder and CEO of Tulaa
AHL Venture Partners led the oversubscribed funding round which also includes investment from Global Partnerships/ Eleos Social Venture Fund, Beyond Capital and Rafiki Ventures.
“Tulaa’s end to end platform will improve crop yields while driving improved sales for small holder farmers and delivering impressive returns to investors.” says Benson Peterson Senior Partner AHL
Tulaa leverages mobile technology and artificial intelligence to enable farmers to purchase inputs on credit and to market their crops efficiently at harvest time. By layering its technology onto last mile networks of retailers and traders, Tulaa makes input and output markets work better for farmers.
AHL has committed more than US $75M to 35 impact-focused businesses and funds that operate across 27 different African countries.