Khula, an AgriTech firm in South Africa, raised a staggering R126 million from current investors, which included Absa Bank, AECI, E Squared Investments, and PepsiCo’s Kgodiso Fund, according to a statement on Monday.
This financing round shows investors’ confidence in the company’s revolutionary approach to agricultural efficiency and production.
Khula’s funding and investor confidence
Khula’s funding round saw contributions from its existing investors and its founders, Karidas Tshintsholo and Matthew Piper. E Squared Investments took the lead as the first institutional investor to back the startup, underscoring the growing interest in AgriTech solutions.
Karidas Tshintsholo, CEO and Co-Founder of Khula expressed his enthusiasm about the funding, stating, “The Series A is an exciting milestone for us. Having started a few years ago just loading spinach in the back of a VW Polo, it is the culmination of the dedication and incredible work that the Khula team delivers on a daily basis.” Under this statement, Khula rose from humble origins to an AgriTech powerhouse.
Faisal Mkhize, Chief Executive at Absa Business Banking, emphasised their support, stating, “Congratulations to the Khula! Team. We are excited to be part of the Khula! growth story and look forward to the innovation and transformation that the next phase of investment will unlock.” This shows industry optimism in Khula’s ability to transform agriculture.
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Khula’s expansion and innovation plans
Khula invites additional investors to join its second Series A investment round, which will close in Q2 2025. Strategic investors who support the company’s objective and provide more than capital are sought.
Khula will strengthen its presence in the South African agricultural value chain, empower more farmers, and bring cutting-edge intelligent innovations with the money. While redefining agriculture with technology, Khula plans to expand into other markets.
Quintin Cross, Managing Executive of AECI Plant Health, noted, “Their success is vital for the broader agricultural sector, which is why we’ve chosen to participate in the Khula! Series A funding round. This investment reinforces our long-term commitment to empowering this market and ensuring its sustainable growth alongside Khula.”
With a robust network of investors and a mission-driven approach, Khula is poised to make a lasting impact on the agricultural sector.